Adams Street is proud to announce that we led the $39 million Series C fundraising for Level AI, a contact center automation that is artificial intelligence (AI) native.
Customer satisfaction drives success for businesses whether they are consumer or enterprise focused. Without a proper understanding of customer sentiment, businesses can struggle to retain customers and can lack the data and insights to drive new product innovation and service improvements. To mitigate these potential negatives, businesses will spend $39 billion on contact center costs in 2027.1
Traditional approaches to address this problem are customer experience (CX) surveys and manual reviews of a subset of contact center interactions. Existing methodologies for mining information on customer sentiment, known as CX intelligence, have fundamental shortcomings, including low response rates, high costs, and long feedback cycles. As a result, businesses operate on a small subset of the available data, face high contact center turnover (100% per year is not unusual), and ultimately, experience lost revenue and uncaptured cost savings.
In a world where many AI products have speculative use cases, Level AI’s CX intelligence platform stands out for its product capabilities and immediate relevance. Level AI leverages its proprietary, domain-specific AI models to establish data-driven practices in the contact center. By processing 100% of contact center interactions in real time, the Level AI platform automates contact center quality management, generates CX intelligence analytics, and live-assists contact center agents to prevent data loss during end-customer interactions.
Level AI has been adopted by leading companies across various verticals, including Carta, Penske, Vista Print, OpenTable, and ezCater. In addition to enhancing CX operations, Level AI’s product suite unlocks a multitude of strategic opportunities including bespoke AI chatbots. The aggregate impact of the Level AI platform has been tangible and vast, with customers experiencing a 25% increase in end-customer satisfaction, 45% increase in agent satisfaction, and 90% time savings in quality assurance monitoring. In addition, Level AI customers are able to identify additional revenue opportunities and make more informed decisions by analyzing contact center interactions.
Level AI is led by Chief Executive Officer and founder Ashish Nagar, who has nearly a decade of experience building conversational AI products. Supporting Ashish is a Level AI team that consists of deeply technical and driven individuals who share a bias for action; characteristics that are reflected in the company’s forward-thinking approach and exceptional product velocity. Level AI’s customers have also routinely commended the pace at which Level AI develops and ships suggested features, further evidence of the team’s ability to innovate and execute. In the rapidly growing contact center landscape, we believe the Level AI team is well-suited to continue its market disruption.
Adams Street is proud to join the Level AI team on its mission to drive business improvements through AI-powered CX intelligence technology. Congratulations to Level AI on its market traction and product innovation to date.
1. Source: Gartner “Forecast Analysis: Contact Center, Worldwide” May 10, 2023
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