AmbitConversational artificial intelligence platform, has raised NZ$1M to accelerate expansion into Australia, targeting new customers in the retail, consumer and financial services sectors.
Quidnet Ventures, which raised the capital, attracted new investors including New Zealand’s deep tech VC led by Mark Bregman, Ph.D., formerly of global companies NetApp, Symantec and Veritas Software. Satish Gupta, former vice president of Lenovo and IBM and now a partner at QuidNet Ventures, has invested in his personal capacity.
The business is already providing a range of customer services to Australian clients including SAX-listed Laybuy, Glassons, 35 local stores and ComExposium. The new capital will be used to increase our footprint in Australia to grow our local customer base.
According to Tim Warren, Ambit’s founder and CEO, the AI-powered chat platform is the brain behind the human-like conversations delivered by chatbots and digital workers.
“Conversational AI adoption among Australian ecommerce, consumer and financial services brands is being driven by consumer demand for 24/7 online support, just as businesses face staffing shortages in contact centers and increasing expectations of shareholders to control costs,” he said.
Warren, his startup’s global leader in natural language technology, enables customer service teams to engage with any question – all day, every day.
He founded Ambit in 2016 after seeing how many companies struggled to get back to their customers in a timely manner and set out to create a low-code solution where every conversation with a customer, partner or employee counts.
The vision was to provide real-time customer service to process unlimited conversations and Abit is now used by some of New Zealand and Australia’s largest organizations across multiple industries.
Warren said the conversational AI platform “ensures customers are always having the right conversation at the right time.”
