Aisera Receives $90M in Series D
Deal Financials :
Transaction Value: Undisclosed
Transaction Overview
- On August 3rd, 2022, Aisera announced it secured $90M in Series D funding led by Goldman Sachs and Thoma Bravo. Other participants include True Ventures, Menlo Ventures, and Zoom Ventures.
- Aisera is an AI-based service experience platform specialized in employee and customer experiences.
- The funding intends to further Aisera’s leading, niche expertise and market expansion vertically and geographically.
- The investment follows the company’s $40M Series C funding in April 2021 with strategic partnerships with Zoom, Slack, and Microsoft Teams.
Aisera’s Growth Story
- Founded in 2017 by Muddu Sudhakar and Christos Tryfonas, two veteran industry leaders from ServiceNow and AT&T, Aisera has experienced tremendous growth in the last 5 years.
- Aisera offers predicative AI solutions that could help efficiently auto-address the labor and capital cost caused by legacy customer service, IT, sales, and operations problems.
- Specifically, the platform employs AI and robotic process automation (RPA) technologies to interact with software and scale the rudimentary, repeatable tasks with mature user cases in customer and employee services.
- The firm further strategically partnered with many industry leaders like Zendesk to have more vertical expertise
- Aisera has grown into a potent AI platform with customers including Fortune 1000 companies like Zoom and Workday; it has enjoyed an over 300% year-over-year growth.
TBP’s Analysis of AI-driven Service Experience Platforms
- With the hybrid work trend emerging from the pandemic and current inflationary concerns, interests in enterprise AI automation to improve user engagements and cost efficiency have driven the growth of platforms like Aisera’s.
- About 70% of customer interactions in 2022 will involve emerging technologies like AI, ML, and chatbots, a 15% increase from 2018. Conversational AI, part of Aisera’s expertise, will reduce labor cost by $80 BN in 2026 and increase three times by 2031 (Gartner).
- 74% of executives say AI has fundamentally changed how they approach to customer experience (IBM).
- There might be deal making slowdowns in 2022 with the volatile valuations, but the funding of Aisera proves the ongoing attractiveness in the deal market of AI application in improving overall user experience across different fields including CRM and HCM.
Notable Transactions in the Space
- In May 2022, Lang.ai, another AI-driven customer support platform, raised $15M Series A funding led by Nava Ventures.
- In August 2021, Zendesk acquired Cleverly, an AI automation start up, to further reduce manual tasks, improve day-to-day workflows, and offer better customer support solutions. Zendesk has been consistently enhancing AI capabilities via its products like Sunshine Platform.
About True Blue Partners
True Blue Partners is a boutique M&A advisory firm that serves lower mid-market enterprise software, service and solutions companies. It brings the rigorous strategic and financial perspective of bulge bracket firms with a company building approach and a steadfast partnership that only an independent boutique firm can deliver. For more information please visit www.truebluepartners.com or email us at info@truebluepartners.com.
True Blue Partners is a boutique M&A advisory firm that serves lower mid-market enterprise software, service and solutions companies. It brings the rigorous strategic and financial perspective of bulge bracket firms with a company building approach and a steadfast partnership that only an independent boutique firm can deliver. For more information please visit www.truebluepartners.com or email us at info@truebluepartners.com.
