NLX Raises $5 Million in Seed Funding
Andrei Papancea
The News:
We are proud to announce that NLX® secured $5 million in seed funding to transform businesses’ customer support into automated, personalized customer self-service experiences. We’re grateful to our top investor – Aquila Capital Partners – and participating investors Flying Fish Partners, Sage Venture Partners, and JetBlue Technology Ventures.
We’re on the precipice of doubling our company in customers, revenue, and people. Our recent raise will help us achieve that growth, optimize our product offerings, hire more smart, talented people, and further drive customer success.
The Background:
When we started NLX® in 2018, we knew there was an opportunity to improve the customer service landscape. Hold times and staffing challenges continuously plague the customer support industry, resulting in diminished customer satisfaction, brand loyalty, and ultimately, a hit to the bottom line.
The pandemic compounded these existing challenges, creating a clear need:
Businesses needed a better way to efficiently and effectively address customer inquiries - whenever and however - without hiring more staff.
When encountering this problem, most businesses decide to either build a solution themselves, outsource support to bot companies, or stay the course with current support. Making no changes obviously improves nothing, and building custom solutions internally or investing in a bot can be time-consuming and expensive. Additionally, none of the bot companies appeared to fulfill the full business need - addressing customer concerns in the modality (over the phone or online) in which they enter.
So, we created a suite of AI-powered products that allow businesses to offer white-glove service to all their customers, no matter if they reach out on the phone, online, or using voice assistant technology like Alexa. We implemented a simple pay-as-you-go business model that allows companies using our tool to scale in the most cost-effective and customer-friendly way. No hidden fees or service charges. Using our products, clients have been able to automate 60-70% of all incoming inquires, reducing strain on support staff so they can focus on solving more challenging questions that go beyond AI’s current capability. Our products never sleep or put customers on hold, giving our clients the ability to offer quick, frustration-free 24/7 customer support.
Our product offering received so much interest last year, that we needed to very quickly hire more smart, talented people to be able to continue growing the business. We are grateful to have such an incredible support system of investors like Aquila Capital Partners, Flying Fish Partners, Sage Venture Partners, and JetBlue Technology Ventures to help NLXⓇ grow quickly and sustainably. The capital raise renewed our unwavering confidence in our product, people, and business, and we’re excited for what’s next.
The Conversation:
“Andrei is part of the next generation of innovative and promising entrepreneurs. He and his team created a highly-innovative product offering that will change the way companies - and their customers - think about customer service. The potential of NLX is so exciting, and I’m thrilled to help the company scale to shape the future.” - Mark E. Watson III, Founder and Chairman at Aquila Capital Partners
“We were extremely impressed with NLX’s world-class team and industry-leading technology. The decision to invest was easy. With their platform, SMBs and enterprises alike can automate complex customer support tasks with state-of-the-art AI and help increase customer delight while driving down costs. We are proud to have NLX in our portfolio and look forward to helping them grow.” - Frank Chang, Co-Founder and Managing Partner at Flying Fish Partners
“NLX’s superior technology and strong, strategic vision for transforming customer support was the deciding factor that led us to invest. We can already see how conversational AI technology is proving transformational in key sectors, and the young company is perfectly placed to seize the market and yield impressive results.” - Frederick J. Warren, Founder and Manager of Sage Venture Partners
“Customer service is an area ripe for improvement within the commercial aviation industry and beyond. NLX’s platform is destined to be an industry game-changer for its ability to walk customers through simple tasks, from rescheduling a flight right down to changing a password. This automation allows for customer service agents to focus on more complex traveler needs,” – Ryan Chou, Investment Principal at JetBlue Technology Ventures
Our Products:
Voice Compass® is our flagship product that enables businesses to design conversations that forge customer trust and brand loyalty through exceptional customer self-service experiences. Whether it's password reset, device setup, changing flights, or something else, Voice Compass® augments your existing self-service flows by verbally guiding calling customers through an onscreen journey to complete their mission.
Dialog Studio allows you to centrally design and manage all aspects of your AI-powered Chat and Voice conversations - including conversation logic, training, authentication, analytics, and deployment across any channel - with little to no programming.
Voice Insights is our powerful analytics tool. It empowers contact center supervisors to monitor contact center metrics, provides a fully searchable repository of calls, and transcribes and analyzes call recordings to help organizations achieve operational efficiency.
Contact Us: https://nlx.ai/contact
Charlie Callari, Director of Sales: charlie@nlx.ai
Megan Swiatkowski, Director of Marketing: meg@nlx.ai
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