Ultimate.ai said it has raised $20M in Series A funding to build the world’s leading virtual customer service agent from OMERS Ventures, Felicis Ventures, HV Capital and Maki.vc.
Digital commerce took centre stage in 2020, driving strong tailwinds for technologies that enable great customer experiences at scale, helping Ultimate.ai to triple its ARR over the last 12 months (for the second year in a row) and also triple its headcount.
“After the first-generation of ineffective chatbots, businesses today really know what they’re looking for. Customer service automation has leap-frogged from simple FAQs to full process automation, across all digital channels,” Reetu Kainulainen, CEO and cofounder, said in a statement.
Integrated within the world’s leading CRM providers, including Salesforce and Zendesk, ultimate.ai’s virtual agent talks to customers, manages tickets, works in back office systems, escalates to other team members, and offers a multitude of other features, the company says. Its clients include Deezer, Telia, and Finnair.
“The customer service industry is undergoing an automation revolution,” said Aydin Senkut, Founder and Managing Partner of Felicis Ventures.
Ultimate.ai was founded in November 2016 in Finland by Sarah Al-Hussaini, Reetu Kainulainen, Jaakko Pasanen, and Markus Rautio.
“The new funding comes at a time of massive growth for us,” said Kainulainen. “This will enable us to keep investing in a category-defining product. We have been uniquely placed to provide crucial support for businesses that have experienced a surge in online customers, and the years of foundation building, product development, and our team culture have enabled us to ride the tailwind of the COVID-19.”
Canadian pension investor OMERS Ventures manages a portfolio worth 2 billion Canadian dollars and has made more than 50 investments in disruptive technology companies across North America and Europe. Felicis has been an investor in companies like Adyen, Fitbit, Shopify and Twitch.