Stanford University has backed a $16m series A round for Involve.ai that was led by Sapphire Ventures.
Involve.ai, a US-based customer intelligence platform developer, has completed a $16m series A round backed by Stanford University and led by venture capital firm Sapphire Ventures.
Bonfire Ventures, Greycroft, Launch Capital, GTMfund, Fenwick and BDMI, an early-stage investment arm of media conglomerate Bertelsmann, as well as private investors Gokul Rajaram and Michael Whitmire.
Involve has built a platform that relies on artificial intelligence technology to help prevent customer churn, extracting predictive behaviour from existing qualitative data such as emails and call notes.
The money will allow Involve to meet client demand and strengthen its product, engineering, AI and go-to-market teams. It will also serve to accelerate the product roadmap and bolster customer support.
Involve previously secured $2.5m in 2018 from Bertelsmann, Bonfire, Greycroft, Launch Capital, CrowdSmart and Noname Ventures. Mucker Ventures is also an early investor, but it is unclear when or how much it invested.
