Astound, a Menlo Park, California-based AI-powered employee service enterprise software company, as per recent reports this week, has just closed a Series B funding round, raising a sum total of $15.5 million in investment financing. The recent funding round was led by March Capital Partners, a Santa Monica, California-based venture capital and private equity firm, and was participated by previous investors Vertex Ventures, Pelion Venture Partners, Moment Ventures, and the Slack Fund. With this recent Series B funding, the Menlo Park-based Astound has to date raised a sum total of $27 million.
In its service offerings, the company streamlines the entire enterprise employee service, from employee support to resolving team issues, enabling workforce managers at large enterprises resolve issues and problems at an accelerated pace, thus reducing employee downtime. Astound’s AI-optimized employee service platform adds an extra layer of intelligence to the already existing service management systems – ServiceNow, BMC, Jira, Cherwell, Workday, and others. Apart from automating routine requests and tasks with virtual support agents, the company with its platform offering improves accuracy across the entire service cycle, thus making live agents smarter with contextual recommendations.
“We invest in bold entrepreneurs pursuing big outcomes with the potential for explosive growth, and Astound delivers on all fronts. While the customer service industry has begun to capitalize on the promise of AI, only Astound has extended this potential to deliver the fastest and most intelligent employee customer service,” stated Sumant Mandal, Managing Director of March Capital. “We see Astound as becoming the key to unlocking the potential for enterprises to link efficient internal support with increased employee satisfaction and productivity, better business outcomes, and higher profitability across the enterprise.”
Furthermore, with its intelligent [employee issue resolver] platform, the company has fared well this past year, doubling its customer count. Astound, with partnership and cordial relations with leading managed service providers and system integrators, is trying to meet the growing market demand.
“We’re proud to be introducing the future of work to the world’s most respected organizations. Every service provider will soon deliver exceptional employee experiences using AI-driven automation,” said Dan Turchin, Astound co-founder and Chief Product Officer. “We’re using this investment to accelerate innovation and hire the best talent. This team is ambitious, hungry, and committed to making work life better for every employee who has ever called the help desk.”