Forethought, a business that wants to use AI in customer service, won the TechCrunch Disrupt Battlefield in 2018 and received a $9 million Series A soon after. Three years later, the company has just raised $65 million in a Series C round, and it’s still going strong.
The current round was headed by Steadfast Capital, with participation from NEA, Sound Ventures, and K9 Ventures, as well as individual investors such as actress Gwyneth Paltrow and former NBA star Baron Davis. The total amount raised so far is $92 million.
The organization now offers three primary customer service items. Firstly there’s Assist, which helps CSAs quickly find the information they need to solve a problem. Secondly, there’s Solve, a chatbot that can answer simple questions while routing more complex ones to human CSAs. Finally there’s Triage, which uses AI to route calls to the most knowledgeable CSA to get them answered as quickly as possible.
“This explosion in digital transformation, as well as I would say just the loss of human productivity [during the early part of the pandemic] led to a lot of businesses to turn to artificial intelligence, and obviously to Forethought, to help with this digital transformation,”Deon Nicholas, CEO and co-founder of the Forethought