Zoovu, a New York-based digital assistant platform to humanize the digital engagement experience, has scraped up USD14 million in a series B round of funding to expand the utilization of its Artificial Intelligence digital sales assistants. This series round was led by Berlin-based Target Global and existing investor Beringea that brings its total venture capital to USD25 million.
The fund will help Zoovu to expand its services into the Asia-Pacific region, in addition, to boost its investment in AI and behavioral analytics. As a provider of AI-enabled digital assistants in a Software-as-a-Service suite to businesses like Amazon, Canon, Sky Telecom and Swisscom, it integrates its AI digital assistants into business websites to enhance the digital engagement experience. In a statement Beringea official stated that driven by AI, Zoovu’s digital assistants guide customers through the decision-making process as if they were having an insightful conversation with a member of staff. Therefore the digital assistant platform significantly improves brand experience, augments conversation rates and reduces returns. Currently, Zoovu’s workforce spans to nearly 150, but the company plans to double that number in the coming days. The company’s rivals mostly travel around in those businesses that are making digital assistants themselves. As part of the round, the New York-based company announced that Rytis Vitkauskas, venture partner at Target Global, is joining the company’s board of directors.
While the deployment of AI and Chatbots are becoming more common across retail websites as a means to engage with potential customers, solve issues, and enhance customer experience, several market surveys found that Chatbots are utilized by 52 percent of Telco groups. Last month American Telecommunications Company Verizon has expanded its managed services portfolio which utilizes AI Chatbots to enhance the customer experience for its business clients.