Addition, an AI-powered messaging platform for businesses, has raised $50 million in a Series B funding round led by Perez, with participation from existing investors. The platform uses machine learning to help businesses automate their messaging workflows and provide personalized experiences for customers.
Addition was founded in 2018 by three former Google employees who wanted to simplify and improve business messaging. The platform uses natural language processing and machine learning to automate customer interactions, such as answering frequently asked questions, scheduling appointments, and making purchases.
Addition’s messaging platform integrates with popular messaging apps, such as WhatsApp, Facebook Messenger, and SMS, allowing businesses to communicate with their customers through their preferred channels. The platform’s AI-powered chatbots can also provide personalized recommendations based on customer data, such as purchase history and browsing behavior.
The new funding will allow Addition to expand its team and continue to develop its platform. The company plans to use the funds to hire more engineers and product managers, as well as to invest in research and development to improve its machine learning algorithms.
One of Addition’s unique features is its ability to analyze customer messages and provide insights to businesses. The platform can automatically categorize customer messages, such as complaints, product inquiries, and feedback, and provide analytics on customer sentiment and behavior.
Addition’s platform has already gained traction with businesses in a variety of industries, including e-commerce, travel, and finance. The platform’s automation capabilities have helped businesses save time and resources, while also improving customer satisfaction and loyalty.
For example, Addition’s platform helped a major online retailer reduce its response time to customer inquiries by 70%. The platform’s AI-powered chatbots were able to handle up to 80% of customer interactions, freeing up customer service representatives to handle more complex inquiries.
Another business that has benefited from Addition’s platform is a major airline. The platform’s automation capabilities helped the airline improve its booking process and reduce the time customers spent waiting for a response. The airline was also able to personalize its messaging and offer customers tailored recommendations based on their travel history and preferences.
The rise of AI-powered messaging platforms like Addition is a response to the growing demand for personalized, real-time customer experiences. Customers now expect businesses to respond quickly to their inquiries and provide personalized recommendations based on their data.
Addition’s messaging platform offers businesses a way to automate their messaging workflows while still providing a personalized experience for customers. The platform’s machine learning capabilities allow businesses to scale their messaging operations and provide consistent service across multiple channels.
The platform’s AI-powered chatbots can also help businesses identify new opportunities for growth by analyzing customer data and providing insights into customer behavior. This can help businesses improve their products and services and create new revenue streams.
The new funding will allow Addition to continue to innovate and improve its platform, helping businesses improve their messaging workflows and provide better experiences for their customers. As AI-powered messaging becomes increasingly popular, businesses that invest in these platforms will be better equipped to meet the demands of their customers and stay ahead of the competition.