Freshworks acquires Seattle AI startup AnswerIQ to bolster AI-powered customer service tech – GeekWire
Freshworks has obtained AnswerIQ, a 3-year-aged Seattle-area startup backed by Madrona Undertaking Group that sells AI-powered consumer company software package.
San Mateo, Calif.-based Freshworks also sells consumer company items, and the acquisition will compliment its existing system. Freshworks was valued at $3.5 billion immediately after elevating a $150 million investment spherical in November.
“The integration of AnsweriQ’s engineering improves our AI/ML capability in the consumer engagement area and delivers sizeable value to our consumers,” Freshworks founder and CEO Girish Mathrubootham mentioned in a assertion.
AnswerIQ CEO Pradeep Rathinam told GeekWire that the startup began fundraising very last year when an “incredible opportunity” arose with Freshworks.
“Freshworks is increasing at a phenomenal rate and hunting to concentrate on more substantial enterprises,” he mentioned. “Our AI tech is ideally suited for a big volume of instances/tickets. The assure of using our AI and supplying it as a part of a system to countless numbers of consumers was really pleasing.”
AnswerIQ can help providers which includes 2K Games, Freshly and SeatGeek automate consumer company requests these as cancelled orders or other many problems.
The startup lifted a $5 million Series A spherical from Seattle-based Madrona in 2017, when it was recognized as SmartAssist. The company’s engineering initially spun out of GE.
Rathinam is a 17-year veteran of Microsoft and ex-CEO of Aditi Systems. He co-founded AnswerIQ with Prashant Luthra, who was beforehand an government at Intelius and TalentWise.
The company’s board involved S. “Soma” Somasegar, managing director at Madrona, and Amit Mital, CEO at Seattle startup studio Kernel Labs.
The two co-founders will sign up for Freshworks — Rathinam as its main consumer officer, and Luthra as its vice president of engineering. AnswerIQ employed less than 20 people today all will sign up for Freshworks. The startup will proceed to assist its existing consumers and will launch future items below the model FreshiQ.
“We are 100 per cent aligned with Girish’s vision of bots and people working alongside one another, where by organization should really be equipped to gracefully handoff instances from bot to human (agent) so that the practical experience is seamless for the end consumer,” Rathinam mentioned.
Freshworks has additional than 150,000 consumers and additional than 2,700 personnel throughout 13 places of work. It will now have a Seattle outpost immediately after the acquisition of AnswerIQ.