Ultimate.ai Raises $6.5M Funding

Ultimate.ai, the Helsinki/Berlin-based startup bringing multilingual customer service automation to businesses just announced a raise of $6.5M (~5.8M EUR) in new funding.

The round is led by the company’s existing investors, HV Holtzbrinck Ventures and Maki.vc. In addition, the EU granted research funding as part of Horizon 2020, a programme committed to backing Europe’s leading deep technology businesses.

Founded in Finland, the business faced a defining challenge: there was no AI technology capable of handling the complex Finnish language. Leveraging recent breakthroughs in deep learning, the founders built the leading fully-language agnostic AI platform for customer service. Today Ultimate.ai provides its multilingual customer service automation to multinational enterprises including Telia, ADAC and Finnair.

The financing comes at a time of significant growth for the company, which celebrates its third anniversary now. In the 12 months since raising Seed, Ultimate.ai has seen its revenue grow tenfold. This growth has enabled the business to triple their team, which now lists 30 people.

In addition to offering a global solution, Ultimate.ai markets a unique approach to automation in customer service: augmentation. In line with industry best-practice, the AI resolves transactional, repetitive requests automatically, savings businesses millions and providing customers 24/7 multilingual support. However, Ultimate.ai goes a step further. When complex cases are handed over to agents, the AI moves into a supporting role, guiding agents with response suggestions in real time. Agents are empowered to work faster and more stress free, while businesses are able to ensure customer experience stays front and center.

“We believe strongly in a customer-first mindset; a commitment we share with our clients. Keeping the experiences of support agents and customers are the heart of our AI is core to building a world-leading product,” says Reetu Kainulainen, CEO and co-Founder of Ultimate.ai. “We are excited about the impact we are having and will continue to improve customer experiences around the world and establish Ultimate.ai as the market leader for customer service automation.”

Ultimate.ai has previously raised $300k angel investment and a $1.3M Seed Round in 2018.