Level AI raises $13M from Battery Ventures; launches publicly
At a Glance
In a Series A round led by Battery Ventures, early-stage automation software Level AI has raised $13M. Level AI wants to help companies handle customer service calls faster by understanding their real-time customer interactions.
Level AI, an early-stage automation software, has raised $13 million in a Series A funding round led by Battery Ventures. Along with the funding, the company has launched publicly. Other participants include Eniac, Village Global, and other unnamed angels. The company now reports $15 million in total money raised, including $2 million in seed earlier.
Ashish Nagar, the company’s founder, helped manage the Amazon Alexa team’s product and worked on an experimental project to get Alexa to talk more about humanity. Although they have not done that because technology isn’t there, it helped him build his understanding of AI, and in 2018 he started Level AI to provide customer service with this know-how.
He said, “Our product helps agents in real time to perform better, resolve customer queries faster and make them clear faster. Then after the call, it helps the auditor, the folks who are doing quality assurance and training audits for those calls, do their jobs five to 10 times faster.”
He said that there are several activities in the Level AI solution. Firstly, to understand the nature of the conversation in real-time by dividing it into meaningful pieces that technology can understand. When they do that, they take this information and use all the conversational details they collect to help firms learn from this activity to workflows in the background to provide helpful resources.
He said that there are several activities in the Level AI solution. Firstly, to understand the nature of the conversation in real time by dividing it into meaningful pieces that can be understood by technology. When they do that, they take this information and use all the conversational details that they collect to help firms learn from this activity, to workflows in the background to provide helpful resources.Ashish Nagar, founder of Level AI
He clarifies that he does not look at feelings or use keyword analysis to lead actions and understanding. He says he truly tries to understand the interaction language, and he gives the agent the correct type of information to help the customer solve the problem. Intention, memory, and multiple things simultaneously are modeled, which, as he says, are how people interact and what conversational AI tries to imitate.
The business began in 2018, and the first idea was to develop voice assistants for front-line workers. Still, Ashish learned that it was not a demand for this after talking to customers but to use conversational IA to help people, particularly in customer services, to be expanded.
Instead, the first version of the product was launched in March 2020. The company currently employs 27 employees in the United States and India, and Ashish believes that he can hire the best people while driving diversity by being remote and using everywhere.
What he’s [Ashish] built has real time in mind. And that’s kind of the holy grail of helping the customer service agents. You can provide information after the call ends, and that’s helpful, but you get the real value [by delivering information] during the call and that’s where real business value is.Neeraj Agrawal of Battery Ventures
Neeraj will be joining the startup’s board under the terms of the agreement.