Service intelligence co Aquant raises $30m

Startups

Aquant’s AI technology unlocks insights from clients’ data silos, analyzing the free-text of customer comments and field technician notes, and validating findings with top performers.

Israeli service intelligence platform Aquant has announced the close of a $30 million Series B financing round led by Insight Partners with participation from existing investors including Lightspeed Venture Partners, Angular Ventures, and Silvertech Ventures. This investment brings the company’s total funding to $40 million in the last 14 months. Insight Partners managing director Peter Sobiloff will join the company’s board of directors.

Aquant will use this capital to support its rapid growth, drive the continuous innovation of its AI platform, accelerate global expansion, and grow its engineering, client services, and marketing teams.

With offices in New York and Tel Aviv, the company was founded by CEO Shahar Chen and COO Assaf Melochna. Over the past year, the company has tripled its workforce and grew its client list with brand names like Becton Dickinson, Comfort Systems, 3D Systems and Sysmex.

Aquant’s AI technology captures the knowledge of subject matter experts before they leave, by unlocking insights from clients’ data silos, analyzing the free-text of customer comments and field technician notes, and validating findings with top performers. The platform then delivers prescriptive insights to every member of the service team, helping technicians and agents resolve customer challenges like experts, and service leaders make informed management decisions.

Chen said, "The expectations from customers of manufacturing companies are growing, just as skilled service workers are retiring. This makes exceptional service delivery more critical, and more challenging, than ever. With this investment, Aquant will be able to meet the market demand for technology that preserves and disseminates the institutional knowledge of service experts. We will continue to help our clients elevate the performance of every service professional, driving higher customer satisfaction and revenue."

Sobiloff said, "Our mission is to invest in high-growth software companies that are disrupting industries to create more efficiency and maximize productivity. It was clear to us that Shahar and Assaf have a deep understanding of the field service software landscape and, with this, have a unique opportunity to build something disruptive in the space. Aquant’s centralized SaaS platform and AI technology has the ability to help manufacturers make smarter and faster decisions, which leads to real ROI with both revenue growth and cost savings."

Published by Globes [online], Israel business news - en.globes.co.il - on January 31, 2020

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