CX Team at Level AI Announces $39.4M in New Funding

Level AI, a customer experience (CX) intelligence and service automation company, recently announced a successful series C funding round of $39.4 million. The Mountain View, California-based company’s latest round of funding brings its total raised to date to $73.1 million. The round was led by Adams Street Partners, with significant contributions from Cross Creek, Brightloop and notable CX technology leaders. Existing investors, including Battery Ventures and Eniac Ventures, also solidify Level AI's position as a frontrunner in transforming contact centers with AI, according to the company.

Level AI has consistently prioritized its growth in the contact center industry, launching several products designed to enhance the customer experience, including Voice of the Customer, Auto-QA and more. The solutions aim to enable customers to achieve substantial returns on investment across various areas of their business. With the new funds, Level AI plans to continue its efforts to further improve its ability to help businesses achieve their contact center goals.

In its announcement of the new funding, Level AI noted that the "CX has never been more crucial." According to Accenture, poor customer service costs U.S. businesses a staggering "$1.6 trillion annually." Conversely, customers are willing to pay a 16% price premium to companies that deliver outstanding experiences. As a result, optimizing contact center operations by training agents, reviewing customer's needs and wants, understanding customers' emotions and helping agents with real-time solutions is critical for companies to ensure every customer interaction is productive and positive.

"We are incredibly excited to embark on this next phase of growth with our customers and partners," said Ashish Nagar, CEO of Level AI. "Securing this significant funding round is a testament to Level AI's potential to lead the market and our ongoing commitment to delivering exceptional value. This investment underscores the confidence of our investors in Level AI's ability to drive innovation and growth in the industry."