EdgeTier, the AI platform that revolutionises customer experience by leveraging conversational data, has announced the successful acquisition of €6m in Series A funding.
The round was led by London-based Smedvig Capital, with considerable contribution from Episode 1 and Act Venture Capital. The €6m injection marks a significant milestone for EdgeTier as it continues to navigate the rapidly evolving landscape of AI-based customer experience management.
EdgeTier’s innovative AI platform is creating a transformative shift in customer experience management. The platform provides unrestricted, real-time access to customer conversational data, enabling companies to enhance customer experiences and consequently bolster customer acquisition and retention. By providing instant insights into the complexities of customer conversations, EdgeTier empowers contact centres to respond to nuanced issues in real-time.
The funding will be utilised to address the increasing demand for EdgeTier’s technology. The Dublin-based firm aims to expand its team from the current 22 members to 70 across its Irish and Spanish bases within the next two years. The new hires, spanning product, commercial, and operations roles, will support an ambitious product roadmap geared towards harnessing the potential of AI in customer service.
Founded in 2015 by Dr. Shane Lynn, Dr. Bart Lehane, and Ciarán Tobin, EdgeTier has established a reputation as a key player in AI-infused application development for contact centres. The company’s growth is underpinned by an impressive customer retention rate and an international presence across more than 20 countries, including high-profile clients such as Abercrombie & Fitch, RyanAir, and TUI Travel.
EdgeTier CEO and Co-founder Dr. Shane Lynn said, “Companies will simply not be able to compete without AI and machine learning augmenting their ability to understand and support their customers at scale. We want to help more contact centres and customer experience professionals recover the missed insights in their conversations, react faster to changes, and have the data they need at their fingertips to make decisions.”
Furthermore, Dr. Bart Lehane, CRO and Co-founder of EdgeTier, stated, “This funding round allows us to deliver our ambitious product roadmap and scale to meet the growing demand for our platform in the market.”
Additionally, the company has previously been praised by its investors, with Joe Knowles, Partner at Smedvig Capital, highlighting the extraordinary growth rate of EdgeTier and commending the team for its innovative and customer-centric approach.
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