SaaS startup Cordless brings more than $2.3M for its AI-based telephony platform

The SaaS company Cordless has raised more than $2.3 million for its telephony platform, which uses AI to improve client service. Now, the London-based business wants to increase client acquisition.

Funding Details:

Fly Ventures took the lead in raising $2.3 million for the pilot round.

Additional backers include Passion Capital, Entrepreneur First, and TrueSight, in addition to well-known angel investors like Eamon Jubbawy (Founder of Onfido), Ian Hogarth (Founder of Songkick), and Tom Blomfield (Founder of Monzo).

For many businesses, customer assistance can make or break them. A strong reputation for providing excellent customer service promotes better relationships, increases company credibility, and simply results in better business. Data and cutting-edge technology continue to shape our interactions in the digital world where business is becoming more and more competitive; however, a new era is now dawning for customer support teams.

The modern telephony program Cordless was created by Luba Chudnovets and Irina Bednova, who met while creating Monzo bank. Cordless makes use of conversational intelligence. As conversational intelligence continues to rule technology.

Cordless Foundation:

In 2020, Cordless was created as a result of the founders’ experience growing customer assistance as Monzo advanced. The company was founded by Luba and Irina on the tenet that the best way to create high-quality, in-demand products is to intimately comprehend how your customers feel and the motivations behind their support requests. You can better address them if you know what adjustments they want.

Customer feedback is a valuable source of market research and a great method to forge lasting connections. The most natural method is over a phone call, but voice can be a challenging medium to analyze.

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Co-founder and CEO of Cordless, Luba Chudnovets: “Most managers only respond to 10 calls a week at most, according to the 100+ customer support leaders we spoke with. This indicates that businesses are throwing away crucial knowledge about how to enhance their offerings.

For customer assistance teams, Cordless’ telephony platform provides AI-driven conservational intelligence. The London-based SaaS startup introduces GPT-3’s power to the voice industry. The platform will assist managers in identifying potential areas for agent development and emerging patterns in client inquiries. With the ultimate goal of assisting businesses in improving their customer experience, it has been built to easily spot conversation patterns, assess customer sentiment at scale, summarize calls, and automatically categorize the entire volume of calls.

Co-founder and CTO Irina Bednova: “In 5 years, every voice-supporting business will use AI to analyze their conversations at scale.”

Customer service is frequently thought of as an expense center. And as a consequence, sales teams are the primary target of existing conversation intelligence tools. In actuality, customer relationships are formed by service teams, and this directly affects customer retention and income. The majority of consumers—83%—agree that they are more likely to remain loyal to companies that address and fix their customers’ complaints. To help customer support managers represent the interests of the customer and maintain the level of support even on a limited budget, Cordless was created especially for them.

The SaaS company has already established relationships with businesses like Curve, Plend, Second Nature, and Fronted. This additional funding will hasten product development, customer acquisition, and ecosystem integrations for customer support.

“Voice support is a usually underinvested category, compared to text, but it is essential to several high-complexity product categories, as well as older, less tech-savvy customer groups,” says Marie Brayer, Partner at Fly Ventures. At Monzo, Luba and Irina had firsthand experience with this, and they are now launching an incredibly well-designed platform.

Image Credit: Cordless