SmartAction, a Fort Worth-based AI platform provider specializing in advanced Intelligent Virtual Agents and conversational AI solutions, has closed a new round of funding that brings the current strategic growth capital amount to $38 million.
The company said the funding is a major milestone, helping to advance its AI-powered technology platform and expand its commercial team to meet the growing demand for its customer support solutions.
SmartAction CEO Kyle Johnson
According to CEO Kyle Johnson, SmartAction’s main focus is to transform customer support capabilities for consumer-facing companies completely. They aim to empower these enterprises to effectively manage intricate agent interactions at a lower cost, all while acquiring valuable customer insights, he says in a statement.
“Our clients choose our services because we excel in building brand loyalty and driving significant improvements in key customer metrics, as well as contact center ROI,” Johnson said.
The funding round was led by existing investors TVC Capital and Staley Capital with the support of ORIX Corporation USA, SmartAction said.
Jeb Spencer, managing director of TVC Capital, highlighted the “exceptional and highly valuable nature” of SmartAction’s offering within the conversational AI market.
TVC Capital Managing Director Jeb Spencer
“With the industry rapidly evolving and supporting increasingly complex virtual interactions, we’re confident that SmartAction is well-positioned to capitalize on this opportunity and further expand its reach,” Spencer said in a statement.
Investors said the funding allows the startup to continue its robust growth.
Renny Smith, managing partner at Staley Capital, says that SmartAction has “built one of the most robust IVA and conversational AI solutions in the market and has an exceptional client base.”
“This additional capital will allow the company to continue its impressive growth trajectory, funding additional Sales and Marketing resources, as well as Engineering talent for building product line extensions,” Smith said in a statement.
SmartAction said it is the industry leader in purpose-built AI-powered Virtual Agents for customer service in the contact center industry.
Its innovative technology and CX services enable frictionless conversational AI experiences over voice, chat, and text, freeing live agents to handle human-necessary and high-priority conversations, the company said. Its clients include AAA, DSW, Electrolux, and Choice Hotels.
The company has consistently ranked as the top Virtual Agent provider on Gartner Peer Insights.
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