US-based customer service automation platform Aquant secured $70m on Wednesday in a series C round featuring Claltech, a subsidiary of conglomerate Access Industries, and electronics producer Schneider Electric.
Qumra Capital led the round, which was filled out by Insight Partners, Pitango Growth, Lightspeed Venture Partners and Angular Ventures while Schneider Electric invested through its corporate venturing unit, Schneider Electric Ventures.
Founded in 2016, Aquant uses artificial intelligence to analyse companies’ service data and provide information needed to solve customer service challenges with more automated solutions.
Funding will be used to boost the company’s international expansion and grow its team across multiple departments in the US, Israel and Europe, as well as to further develop its software platform.
Insight Partners led Aquant’s $30m series B round in January 2021, which included Angular Partners, Silvertech Ventures and Lightspeed Venture Partners.
Lightspeed had having led a $10m series A round for the company in 2018 that included World Trade Ventures, Angular Ventures and Silvertech Ventures. It was preceded by $2.6m in seed funding from World Trade Ventures, Silvertech Ventures, an AngelList syndicate and unnamed individuals in 2017.
Shahar Chen, co-founder and chief executive of Aquant, said: “To win the service game today, it is not enough to just solve problems anymore.
“Companies must also provide a stellar service experience. And when providing a stellar experience, service becomes more than just ‘maintenance’ for customers – it becomes magic.”
