Estonian startup Klaus, an AI-powered platform targeting an end to bad customer service, has raised a €12 million series A round of equity funding led by Acton Capital.
Joining the round were previous investors Icebreaker, Creandum and Global Founders Capital. The new round of funding will deepen the company’s core focus on product and engineering teams while bringing new growth through sales and marketing.
“Research commissioned by Microsoft shows that 95% of consumers say that customer service is important for brand loyalty, and more than 60% report having deserted a brand and switching to a rival company because of poor service. With customer reviews increasingly important for sales, the business impact of poor service can be devastating. In large enterprises with omnichannel contact centres, it is not unusual to have 2,000 or more agents handling over a million conversations per month,” the company said in a statement.
“Such volumes make it nearly impossible to gain a real overview, and the bulk of customer conversations are a black hole. With manual review processes, it is a major time-suck to scrutinise even a fraction of 1% of total interactions.”
According to the company, its AI-powered review automation platform enables the analysis and 100% coverage of customer interactions. It generates insights that are meaningful and can be relied on to bring radical service improvements to large and growing organisations struggling to maintain consistent service quality.
“Klaus is currently analysing over two million conversations daily from its mostly enterprise-size customers. It breaks this data down into searchable, trackable information with relevant highlights brought to immediate attention before they can become problems.”