SmartAction completes investments from Staley, TVC

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fintech insurtech wealthtech regtech ai cybertech esg news

AI-powered customer self-service platform SmartAction has completed investments from Staley Capital and TVC Capital.

This investment also saw a contribution from G-Bar Ventures and a debt financing facility from ORIX Growth Capital and Silicon Valley Bank.

The company helps to automate various aspects of customer communications across all platforms, including SMS, web chat, Facebook Messenger and Skype, among others.

SmartAction can be used for automating a range of financial services, including the authentication of a customer and their banking details, the pre-screening process for credit applications and credit scoring. Through the solution, clients can accept digital payments, with the ability to set up payment plans, recurring payments setup, partial payments and text reminders.

Over the past year, the company has seen its usage increase by more than 115 per cent.

SmartAction CEO Tom Lewis said, “We are beyond excited to partner with Staley and TVC. Our innovative technology and proven implementation methodology form an excellent foundation. This investment provides us with a springboard for accelerated growth, which we are confident will lead SmartAction to establish itself as a true leader and an iconic brand for AI in customer service.”

A range of AI-powered solutions have already had a lot of activity this year, with Conversica, virtual assistant platform, acquired, last week.

Earlier in the year, AI solution developer C3 IoT picked up a $100m funding round to support its global distribution strategy, while Trend Lab netted a $12.7m angel round to support it develop big data and AI technology for FinTechs.

Just under half of the $2bn invested in to global data and analytics companies last year, went into companies focusing on big data.

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