Managing Director Jesse Zhang (left) and CTO Ashwin Sreenivas (right) competed with the competitions of the Olympiad of Science and Mathematics. Now Decagon is in talks to raise $ 100 million in funding with $ 1.5 billion.
Decagon
AI Startup Decagon, which is constructing customer service agents, is in talks to raise $ 100 million in a new $ 1.5 billion -billion funding, according to five sources familiar with the deal.
Andreessen Horowitz and Accel are driving the round, with the participation of existing investors, according to four people. The company has more than $ 10 million in signed contracts (often indicated using the term annual repetitive revenue), according to two sources. Another source familiar with the conversations said that the round was not closed and the data could change.
Decagon, Andreessen Horowitz and Accel did not immediately respond to comment requests.
Decagon creates chatbots and customer support agents – software that can perform autonomous basic tasks – for things like answering questions about how a product operates, refunds and cancellation of subscriptions. Companies such as the concept, the bilt, the Duolingo, the Ustack and the ripple use Decagon Customer Support Cups.
The latest investment comes less than a year after Decagon set a $ 65 million BAIN Round, led by Bain Capital Ventures in a $ 650 million assessment, Tower reported in October. The new investment will bring Decagon’s total funding to $ 200 million. The company, which was presented at Tower The AI 50 list co -exists by 27 -year -old Managing Director Jesse Zhang and Ashwin Sreenivas in 2023, after the twin was asked dozens of companies to find the problem that could be better solved with AI.
Customer support, a tiring but central part of any business, has long aimed at automation as a means of saving millions in labor costs, largely eliminating customer support teams. BILT credit card provider reduced the customer support team from hundreds to 65 with Decagon, Tower reported last year. And Giant Classpass, which uses Decagon’s AI agents to hold 2.5 million talks with its customers, reduced customer support costs by 95%, according to The information. “We believe AI agents can be 10x employees,” Zhang said Tower In March.
Underneath the hood, Decagon agents are built on the most advanced models of Openai, Anthropic and Cohere and are trained in internal data such as blogs, manuals and customer service talks. Personal and review the answers created by AI to improve it. In February, Decagon worked with the launch of Elevenlabs sound production to create vocal agents to have more natural, human conversations with customers.
Customer service software is a competitive market and Decagon is opposed to companies, such as the $ 4.5 billion Sierra, maintained by the former president of SalesForce and the Chairman of the Openai Board of Directors and SalesForce, who has their own AI representatives. The products themselves are also more and more identical to each other and businesses regularly do what they are called bake offs to pit an AI tool against another to see how well they do at work.
“Decagon claims to win almost every time they go up against Sierra’s head,” said one investor involved in talks. “In the end, both will have exactly the same product and it will really be a fight to see who can solve a higher proportion of support calls with the best accuracy.”
More than Forbes
