U.S.-Israel service intelligence platform Aquant has raised $ 70 million in a Series C funding round to support the growth and advancement of its technology, the company said on Wednesday.
The funding round was led by Qumra Capital, Insight Partners and Pitango Growth. Previous investors Lightspeed Venture Partners and Angular Ventures also participated in the round, as well as new investors Schneider Electric Ventures and Claltech.
Founded in 2016, Aquant is a SaaS company that helps service organizations make smarter, faster, and data-driven decisions by providing predictive and actionable service recommendations. through AI and machine learning.
Aquant raised a total of $ 110 million. The company will use the new capital to support its rapid growth and expand use cases while strengthening its leadership position in service intelligence in every market for every company that provides services.
In order to accelerate this global expansion, Aquant will expand its engineering, customer services and marketing teams, adding positions in the United States, Europe and Israel. The company said the funding will also spur continued innovation in its artificial intelligence platform, including the development of cutting-edge technology that combines structured and unstructured data and harnesses the tribal knowledge of experts.
“To win the service game today, it is no longer enough to solve problems,” said Shahar Chen, CEO and co-founder of Aquant. “Businesses must also deliver an exceptional service experience. And when it delivers a great experience, service becomes more than just “maintenance” for customers – it becomes magic. “
“Aquant is revolutionizing service intelligence and is well positioned to lead this vast market with its domain expertise and data insight. Their technology allows companies to focus on what they’re good at, alleviating one of today’s most serious business challenges, ”said Sivan Shamri Dahan, Managing Partner at Qumra Capital. “We are very excited to partner with them as they continue to grow rapidly to dramatically improve service experiences. “
Service intelligence is supposed to solve an increasingly problematic talent shortage in the field service industry, giving new hires access to decades of technical knowledge, account data and service history to at hand. As baby boomers continue to retire from tech jobs and younger millennials and millennials fill their positions, knowledge sharing and effective use of data will become increasingly important.
“Customers trust Aquant’s AI-powered offering because, unlike generic AI solutions, it is tailored to the needs of the service vertical and delivers a clear return on investment from day one.” said Idit Muallem-Yedid, partner at Pitango Growth, who is joining Aquant’s board of directors. “Aquant’s knowledge sheds light on areas traditionally seen as blind spots in service operations and experience. I am delighted to be a part of Aquant’s journey as it continues to bring value to all stakeholders in the service experience and to deploy additional solutions that are eagerly awaited by its customers.
“We look forward to working with our new investors as we enter a phase of significant growth,” said Assaf Melochna, Chairman and Co-Founder of Aquant. “The service industry is on the cusp of unique advancements, and helping these companies transform their services by providing them with critical business information is in Aquant’s DNA.