Cerebri AI, an Austin startup that uses AI to improve customer service, just announced a major round of funding — a $5 million Series A led by Microsoft’s venture fund, M12.
With the fresh funds, the company plans to expand its operations and support the release of its new Cerebri Values product, which “quantifies each customer’s commitment” to a product, according to the company’s press release announcing the deal.
“With the fantastic support from our investors and the capital raised in our Series A financing, today we are launching a truly revolutionary way for major enterprises to engage with their customers,” Jean Belanger, Cerebri AI’s CEO and co-founder said in a statement.
The company uses machine learning to give companies the ability to track and analyze the patterns that lead to purchases.
“Cerebri has created a product that is fundamentally changing how customer-facing sales and success professionals can analyze the customer journey,” said M12 Partner Elliott Robinson in a statement. “By enabling companies to follow an individual customer across the various touch points within the enterprise, Cerebri has proven they’re able to improve customer experiences and generate revenue lift.”
The University of Texas Horizon Fund, WorldQuant Ventures and Leawood Venture Capital also participated in the round.
Source: Cerebri AI raises $5M in funding, with growth plans on the horizon