Israeli AI services intelligence co Aquant raises $70m

Aquant founders Photo: PR

Using deep service expertise and specialized Natural Language Processing (NLP), Aquant understands all service data.

Israeli AI services intelligence platform developer Aquant has announced the completion of a $70 million Series C financing round led by Qumra Capital, Insight Partners and Pitango Growth. Previous investors Lightspeed Venture Partners and Angular Ventures also participated in the round, along with new investors Schneider Electric Ventures and Claltech. This brings to $110 million, the total amount raised by Aquant.

Aquant will use the new funds to expand its engineering, client services and marketing teams in the US, Europe and Israel. The funding will also be used for further development of the company's Artificial Intelligence platform, including the development of cutting-edge technology that combines structured and unstructured data and harnesses the tribal knowledge of experts.

Aquant was founded by CEO Shahar Chen and president Assaf Melochna. Chen said, "To win the service game today, it’s 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."

Using deep service expertise and specialized Natural Language Processing (NLP), Aquant understands all service data, combines it with tribal knowledge, and provides service leaders, technicians, and reps with the most vital information they need, exactly when they need it.

"Aquant is revolutionizing service intelligence and is well-positioned to lead this large market given their domain expertise and data savviness. Their technology enables companies to focus on what they’re good at, alleviating one of the most serious business challenges today," said Sivan Shamri Dahan, managing partner at Qumra Capital. "We’re very excited to partner with them as they continue their rapid growth in order to significantly improve service experiences."

Published by Globes, Israel business news - en.globes.co.il - on October 6, 2021

Copyright of Globes Publisher Itonut (1983) Ltd. 2021

Aquant founders Photo: PR
Aquant founders Photo: PR
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