Neuron7.ai, a Service Resolution Intelligence company has raised $44 million in Series B funding led by Smith Point Capital, the firm founded by former Salesforce Co-CEO Keith Block. Existing investors Nexus Venture Partners and Battery Ventures joined the oversubscribed funding round, bringing the total capital raised to date to more than $63 million.
The new funding will be used for product innovation and enterprise-focused go-to-market growth initiatives to enable the delivery of sophisticated AI-powered use cases to resolve issues in complex service environments and support deeper integration into a host of CRM applications, chat, and other service workflows.
“Neuron7 is redefining service with AI that delivers fast, accurate resolutions at Fortune 1000 companies. Our Smart Resolution Hub is the future of service, bringing together knowledge from data and people to power better decisions and faster resolutions at every point of the service continuum,” said Neuron7.ai CEO and Co-Founder Niken Patel.
“We are grateful for our investors’ support and thrilled to welcome Smith Point and the expertise of enterprise software stalwarts like Keith Block to the Neuron7 business. Their extensive industry experience validates our approach and will help propel us forward as we continue to address the toughest challenges in service and support,” he added.
“Neuron7 represents the next great leap forward for the service industry. We’ve had a front-row seat to the industry’s evolution over the last few decades and were immediately drawn to Niken’s vision to establish a service-focused, AI-driven intelligence layer. Neuron7 delivers industry-leading, domain-specific results to an impressive roster of customers and establishes impressive strategic partnerships with major cloud platforms – milestones rarely seen in a company at this stage. We are excited to partner with Neuron7 on its next chapter of growth,” said Keith Block, CEO and Founder of Smith Point Capital.
“NCR Atleos is responsible for maintaining over 600,000 ATMs across 60 countries in multiple languages, with a critical commitment to keeping our customers’ businesses running seamlessly. Neuron7’s solutions have been instrumental in transforming the quality of service we deliver to our global customers. With its AI-powered Service Resolution Intelligence deployed to more than 6,000 users worldwide, handling 1.4 million cases per year, we’ve been able to drive significant improvements in first-time resolve and resolution time,” said Bill Girzone, Senior Vice President, Global Field Services of NCR Atleos.
“Neuron7 solutions support our strategy to empower service technicians to diagnose and repair more efficiently by leveraging service data, expert knowledge, and smart-instrument telemetry data. By integrating the solutions into our service delivery platforms, we achieve daily efficiencies that enhance customer service, enabling our customers to innovate at speed and achieve sustained positive outcomes with Keysight products and solutions,” said John Page, President of Global Services at Keysight.
Founded in 2020 by Niken Patel and Vinay Saini, Neuron7 helps customers achieve 90% plus resolution accuracy faster by bringing together knowledge from vast data sources, people, and interactions into a Smart Resolution Hub.
Neuron7 seamlessly integrates into your CRM or chat in partnership with Salesforce, ServiceNow, Microsoft, and SAP to provide answers in seconds and turn-by-turn guidance to resolve issues faster, the first time. Neuron7 solutions are purpose-built for complex service environments, including medical devices, high-tech, and industrial equipment.
Neuron7 claimed to be 21% to 38% more accurate than industry-standard large language models (LLMs) and reduces hallucinations by more than 50% compared to industry standards.
Neuron7 is backed by Smith Point Capital, Nexus Venture Partners, Battery Ventures, and ServiceNow Ventures.
