CommBox Secures $15M Investment, Enhances its Chatbot Platform

As AI-driven customer support bots get smarter, more human-like and more flexible, they are ideally able to satisfactorily meet a larger portion of customer queries, leaving human agents to settle more complicated (and higher-priority) matters that require a human touch. For some companies that handle sensitive customer information (e.g. healthcare orgs or financial services firms), security has sometimes proven to be an issue with these technologies.

CommBox, provider of a new omnichannel, AI-powered customer experience platform, recently announced the completion of a $15 million growth investment round from PSG Equity, a growth equity firm that specializes in partnering with software and technology-enabled services companies. The investment follows PSG Equity’s original 2021 investment and will be used to help expand CommBox's global footprint and enhance its AI-powered solution.

CommBox's platform aims to securely and rapidly deploy AI bots capable of resolving complex customer inquiries - i.e. those requiring secure access to third-party systems or personalization. This is achieved through advanced automation capabilities and seamless integration and completed with enterprise-grade security.

Although the market for chatbots and customer experience automation is perceived as mature, many sectors (such as financial services and healthcare, as mentioned) still fail to leverage, quote, "the full potential of the technology beyond collecting customer data before passing customers to a human agent for resolution," according to CommBox. This can be due to a lack of advanced automation and integration capabilities that securely perform  required back-end business tasks, such as authentication or sensitive data integration.

“We’re proud to be entrusted by PSG to continue our mission to build better, more seamless, and innovative customer experiences,” said Dvir Hoffman, CEO of CommBox. “Our platform enables rapid deployment of conversational AI for enterprises, automating customer interactions and business processes whilst ensuring enterprise-level protection and privacy to secure AI deployments. Through PSG’s strategic investment, we will seek to grow our footprint in Europe and North America, as well as further boost our already expansive R&D in AI and harness this to continue enhancing our platform’s capabilities.”