CustomerZone360 NEWS

Free eNews Subscription

UpdateAI Raises $2.3M to Automate Post-Sales Workflows

By Greg Tavarez June 08, 2023

Customer success, or CS, teams play an important role in driving business growth and ensuring customer satisfaction. By building strong relationships and tailoring their approach to meet specific customer needs, CS teams enhance satisfaction, loyalty and advocacy, leading to increased customer retention and revenue growth.

Additionally, CS teams act as the voice of the customer within the organization, conveying valuable feedback and insights to product development, sales and marketing teams. They also identify upselling and cross-selling opportunities, reduce customer churn and contribute to the overall financial health of the business.

However, these teams often find themselves burdened with an overwhelming amount of manual tasks, impeding their ability to focus on strategic thinking and scaling account coverage. Recognizing this challenge, UpdateAI, the ChatGPT-powered CS platform, announced a milestone with a $2.3 million funding round led by IdealabX.

The investment comes at a pivotal time for UpdateAI as it aims to revolutionize the way CS teams operate by automating critical post-sales tasks. By leveraging its proprietary conversational AI technology, integrated with ChatGPT, UpdateAI identifies and analyzes signals for post-sales teams. The platform streamlines post-call activities such as sending follow-up emails to customers and seamlessly integrating notes with systems like Salesforce.

“With this funding we are rolling out a solution that saves CS teams meaningful time that can be invested into more strategic thinking and scaling of account coverage,” said Josh Schachter, co-founder and CEO of UpdateAI.

The funding round also marks UpdateAI's entry as the inaugural investment of CS Angel, an investment group consisting of top CS experts and operators.

To further assist Customer Success teams in harnessing the power of ChatGPT, UpdateAI published a comprehensive 70-page e-book. This resource offers insights and guidance on how CS teams can leverage the capabilities of ChatGPT to save valuable hours of busywork every week. The e-book serves as a testament to UpdateAI's commitment to empowering CS teams and enabling them to achieve their full potential.

Additionally, as UpdateAI continues to make strides in revolutionizing post-sales automation, the platform's integration with Zoom Meetings enables seamless adoption for organizations.

"We are experiencing the dawn of a new era with the advent of generative AI technology," expressed Howard Morgan, investor and board director at UpdateAI. "This groundbreaking innovation holds immense potential to transform various industries, and we support UpdateAI's vision of revolutionizing customer-centric operations."

By automating post-sales tasks and empowering CS teams with time-saving solutions, UpdateAI is enabling professionals to shift their focus from mundane activities to strategic thinking and account growth. Stage Venture Partners, Zoom Ventures, a16z's scout fund and Howard Morgan also participated in this funding round, bringing UpdateAI's total financing to $4 million.

Edited by Greg Tavarez
Get stories like this delivered straight to your inbox. [Free eNews Subscription]

CustomerZone360 Editor

Related Articles

Customers Believe Companies Are Making Them Work Too Hard

By: Tracey E. Schelmetic    9/29/2023

According to the inaugural J.D. Power U.S. Cross-Industry Customer Service Experience Study, the average consumer is spending 18.10 minutes every time…

Read More

Bandwidth, Google and Cognigy Shake Up Contact Center AI

By: Greg Tavarez    9/29/2023

Bandwidth announced a partnership with Google and Cognigy to launch AIBridge, which enables enterprises to easily deploy voice-based artificial intell…

Read More

AI Won't Replace Human Agents, But Agents Need to Adapt to Working with AI

By: Tracey E. Schelmetic    9/28/2023

A recent analysis released by workforce management company Calabrio highlighted the essential role of hybrid and remote contact center agents, the exp…

Read More

Traditional Call Quality Assurance Programs are Ineffective at Improving CSAT

By: Tracey E. Schelmetic    9/27/2023

Research conducted by SQM Group found that only 19 percent of call center managers strongly agree that their call center's quality assurance program h…

Read More

More Enterprises Turn to CCaaS to Deliver Better Customer Interactions

By: Greg Tavarez    9/27/2023

Many enterprises are turning to automation and the cloud to address a growing number of customer interactions efficiently and with the agility to adap…

Read More