Mountain View-based “Moveworks” ropes in $30m in Series A Funding

Artificial Intelligence News

Mountain-View-based-“Moveworks”-ropes-in-30m-in-Series-A-Funding Mountain View-based “Moveworks” ropes in $30m in Series A FundingMoveworks, a cloud-based AI platform provider headquartered in Mountain View, California, as per recent reports, has announced the world’s first autonomous artificial intelligence (AI) solution that is apt at autonomously resolving employee IT issues in an enterprise. The solution has takers lined up already, furthermore, reports are that the autonomous AI solutions takers are already amongst the CIOs of Fortune 500 companies and other leading enterprises including Autodesk, Broadcom, and Nutanix.

Moveworks, which combined the Natural Language Understanding (NLU), the advanced conversational-AI, and the automation process, claims the solution’s AI autonomously identifies the optimal solution and works on it to fully resolve enterprise IT issues in an organized manner, instantly.

Moreover, the company claims its Moveworks AI solution, eliminates the need for companies to task IT staff to work on provisioning applications, resetting passwords, unlocking accounts, managing email lists, and answering questions, allowing them to engage their IT staff to focus on other high-value activities.

In a recent Series A funding round, Moveworks has raised $30 million in investment funding from leading venture capital firms Bain Capital Ventures and Lightspeed Venture Partners.

“Technology is the backbone of business productivity, yet, the average IT support ticket takes three entire days to resolve,” stated Bhavin Shah, CEO and co-founder, Moveworks. “IT teams waste valuable time and money resolving the same issues over and over again. But it’s a hard business problem to solve and all of the approaches up to now have involved a lot of manual work supported by heavy processes and workflow tools. That’s why we built Moveworks: to provide the enterprise with an instant and autonomous solution that doesn’t just log the issue but does the work.”

Continuing, Shah adds, “We decided to approach the problem from a new angle. We developed our own NLU system that’s pre-trained to understand IT support issues.” “Once the system correctly deciphers the issue, it can decide the best course of action to take. And we’ve built numerous integrations into common enterprise tools so we can then go and complete the task or retrieve the right piece of information. We designed the system to learn continuously from every interaction at every customer. So we have this kind of network effect where the more customers we bring on, and the more employees we serve, the smarter the system gets for everyone.”

In his concluding remarks, Shah says, “We believe that software should be graded not by how many features it has, or how many workflows you can build, but by how much real work it’s doing, such as completing tasks or resolving issues. This is where strong forms of AI really start to change the game, not just making suggestions but actually doing the work.”