AI Customer Service Platform ASAPP secured $120 Million

ASAPP, a New York based A driven customer experience performance company, has now secured $120 million in a Series C funding round.

New York headquartered ASAPP is founded by the Gustavo Sapoznik. The AI startup offers a Customer Experience Performance Platform, which allows the global organization customers to drive differentiated customer experiences, cost reductions, revenue, and automation designed to support employees in customer service and sales.

To date, the AI customer service platform provider has secured a total of $400 Million in four funding rounds. The AI startup has its offices in London, New York, Silicon Valley, Bozeman, and Buenos Aires.

Gustavo Sapoznik, ASAPP founder and CEO, said, "ASAPP is one of the few companies advancing research and development in artificial intelligence and its application for customer experience. In an environment where customer expectations are rising, ASAPP is helping large enterprises advance digital engagement, real-time voice transcription, speech analytics, and live agent coaching and analytics. The Customer Experience (CX) industry is at a crossroads. After years of interactive voice response systems (IVR) and bot investments, customer satisfaction is down, and costs have increased. We apply our AI research to make people in contact centers wildly more productive because existing rules-based technology and architectures limit companies to small improvements that can't bridge the digital transformation opportunity that AI is enabling and delivering."

Tim Stone, ASAPP's Chief Operating Officer, and Chief Financial Officer said, "ASAPP's growth doubled last year, as we continue to deliver for customers like JetBlue and DISH Network with automation that supports both agents and agent-less interactions with their customers. This Series C financing will enable ASAPP to increase investment in ASAPP's AI Native®, Customer Experience Performance (CXP) platform™ that helps global enterprise customers drive differentiated customer experiences, revenue, cost reductions and automation designed to support employees in customer service and sales."

The latest round has raised 120 million at about $1.6 billion valuations. 

The Fidelity Management & Research Company LLC and Dragoneer led the latest funding round. Other participating investors include March Capital, John Doerr, HOF Capital, Euclidean Capital, Emergence Capital, 40 North Ventures, and Telstra Ventures.

Post funding, Jason Green, founder of the Emergence Capital, will join the ASAPP, Board of Directors team.

The company as of now has plans to use the new funds to continue to increase investment in its platform. Also, New York based AI startup intends to expand by applying AI to unaddressed human productivity opportunities in contact centers, notes the announcement.