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article imageAda, the AI and chatbot company, secures Series A funding

By Tim Sandle     Dec 18, 2018 in Business
Technology company Ada has announced it has completed a $19MM Series A funding round. The company provides artificial intelligence and chatbot capabilities that are used and setup by support teams in order to automate interactions with customers.
Ada has raised $19 million (Canadian) in Series A funding. This investment cycle was led by FirstMark Capital with additional support provided by companies including Bessemer, Version One, plus computer scientist, Barney Pell. The new financing will be used by Ada to expand into new global markets and to diversify across new sectors, such as travel and financial services.
The investment will also be used to enhance the company's existing platforms. Among the aims here are to increase features around personalization and customization. Another aim to offer services to clients so they can to build, train, and manage Automated Customer Service departments.
Ada develops technology for use in the customer services field, helping to automate inquiries helping companies to save time, reduces cost, and improves the customer experience. Customer services has undergone disruption in recent years, arising from digital transformation challenges and disruptive technologies.
Much of the challenge has come from customers, according to a Deloitte report (The digital transformation of customer services - Our point of view): " The digital age has transformed the way customers shop and share their experiences. Today, customers are driving the buying process using websites, blogs, vlogs and social platforms."
It is these challenges that Ada aims to assist with. Formed in 2016, the company produces artificial intelligence and chatbot platforms with the aim of helping companies to automate much of their customer interactions. The technology has been adopted by TELUS, Coinbase, and UpWork, as examples.
With the new funding, Mike Murchison, CEO and co-founder of Ada said in a statement provided to Digital Journal: "This funding is a testament to the results we’ve seen with our platform. With backing from such a diverse group of global and local investors, we can continue transforming the customer experience for businesses and their customers around the world.”
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