Service intelligence startup Aquant announced Tuesday it closed on a $70 million Series C. The round was co-led by Qumra, Insight Partners and Pitango Growth, and caps off a year of rapid growth, according to the company.
By using natural language processing, artificial intelligence, industry insights and knowledge gathered by longtime experts, Aquant’s proprietary platform aims to provide business leaders, technicians and reps with the information they need to do their jobs effectively. The goal is to collect as much knowledge as possible so the AI can identify patterns and make decisions on how to best serve a given business’ customers.
“To win the service game today, it’s not enough to just solve problems anymore,” Aquant co-founder and CEO Shahar Chen said in a statement. “Companies must also provide a stellar service experience. And when providing a stellar experience, service becomes more than just ‘maintenance’ for customers — it becomes magic.”
Built In last covered Aquant back at the very beginning of 2020 when the company raised its $30 million Series B. Of course, since then, the industry has changed quite a bit amid the ongoing pandemic, with customer service teams growing increasingly dependent on AI and automation to assist in their day-to-day operations. And this shift doesn’t appear to be slowing down anytime soon, especially as more baby boomers continue to retire from technician roles and get replaced by more novice millennials and Gen Zs. Aquant is positioned to fill this growing knowledge gap.
“The service industry is on the cusp of once-in-a-lifetime advancements, and helping these companies transform service by providing critical business insights is built into Aquant’s DNA,” co-founder and president Assaf Melochna said in a statement. “We look forward to working with our new investors as we enter an important growth phase.”
Looking ahead, Aquant will use this fresh funding to continue innovating its platform and develop new technology. The company is also planning a global expansion, which will require it to grow its engineering, client services and go-to-market teams at its NYC headquarters and offices in Israel and Europe.
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