Funds for Customer Understanding Platform FunnelAI

In the US, artificial intelligence-driven customer lifecycle management and targeting platform FunnelAI has raised $1.5m in a seed round of funding, which it will use to hire new staff and further develop its technology.

FunnelAI offers deep learning and machine-language technology to automate business processes for finding and targeting customers with a high intent to purchase, and for understanding the customer journey. The firm's ad targeting tools include location-based analytics and focus in particular on the automotive sector. CEO Sri Kamma says the company is the first in the industry to connect businesses with prospective customers in real-time from social media and digital platforms, by finding high purchase intents using AI.

New funding has been led by Active Capital, with participation from early stage investor Geekdom Fund, retail and consumer sector investor True, and angel investors from San Antonio and Houston. FunnelAI's co-founder and Chief Strategy Officer Suja Kamma, adds: 'Our seed raise allows us to hire for key functional areas and continue to focus on product innovation catered to the auto industry. We plan to expand into the next vertical in the fourth quarter of this year'.

Web site: www.funnelai.com .