Forethought Raises $ 65 Million Series C to Accelerate Customer Service Digital Transformation

SAN FRANCISCO – (COMMERCIAL THREAD) –Foresight, the human-centric AI platform, today announced a $ 65 million Series C funding round that will fuel business growth and accelerate the digital transformation of customer service through AI human-centered.

“The pandemic has pushed individuals and businesses to move quickly to digital channels and processes, a change many were unprepared for,” said Deon Nicholas, co-founder and CEO of Forethought. “We are helping companies transform their customer experiences, and this fundraising will allow us to quickly expand our research, product development and marketing to get there.” ”

STEADFAST Capital Ventures led the investment and was joined by previous investors NEA, Ashton Kutcher and Guy Oseary’s Sound Ventures and K9 Ventures. New Investors Collaborative Fund, Frontline Ventures, Cleo Capital and Spearhead joined the round, as did leading individual investors including Gwyneth Paltrow, two-time NBA All-Star Baron Davis, Robert Downey Jr., Trevor McFedries, CEO of Kensho Daniel Nadler, Dr Christopher Manning, IronClad CEO Jason Boehmig, HumanFirst CEO Andy Coravos, Taylor Greene and Adrienne Harris.

As part of the tour de table, Karan Mehandru, Managing Director and Head of Venture Capital at STEADFAST Capital Ventures, will join the Board of Directors of Forethought.

“We believe there is a huge opportunity in the market to harness the power of human-centric AI to automate an important part of the customer experience workflow as customer interactions go digital and line, ”Mehandru said. “Forethought is the fastest growing company in this emerging space with enthusiastic customers across all industries, and their team and cutting edge technology are transforming the customer experience for some of the most important organizations of our time. We are delighted to be partners in this adventure and could not be more excited to invest in Deon, Sami and the Forethought team.

The increase follows a record year for the company where Forethought increased its ARR by 5, tripled its customer base and now supports more than 10 million human interactions per year on behalf of its customers. This highlights a critical need among customer service teams for better support technology that doesn’t sacrifice the customer experience, especially as businesses evolve.

“At Goop, all of our business revolves around the customer,” said Gwyneth Paltrow, acclaimed actress, author and CEO of Goop. “When I saw how Forethought’s AI can transform the customer experience, I knew there was something special here. Human-centered AI will change the world. I am proud to be a forward-looking investor and look forward to seeing what the future holds.

Businesses report losing $ 75 billion annually due to poor customer service, and 96% of customer attrition is due to poor customer service interactions. Forethought’s Comprehensive AI Platform Helps Organizations Transform the Customer Experience Across the Support Journey by Delivering Human-Centric AI, Increasing Agent Efficiency While Improving the Customer Experience . Forethought enables agents to self-serve, instantly resolving common cases with over 90% accuracy; Automatically marks and routes tickets to the right support team; and enables agents to resolve complex tickets faster by delivering relevant AI-powered knowledge, all from a single platform.

“The digital transformation has triggered spectacular growth for our business,” said Henry Ward, CEO of Carta. “It also dramatically increased our volume of customer support tickets, and the customer experience was one thing we couldn’t pass up. With Forethought, we have been able to reduce response times for our customers by allowing our agents to support them more effectively.

Forethought was named the winner of TechCrunch Disrupt Battlefield when it launched in 2018 and was recently featured on Forbes “Next Billion-Dollar Startups” list and Forbes “AI 50 2021: Companies to Watch” list. Forethought provides its customer support AI platform to leading companies including Lime, Upwork, Thumbtack, Carta, Crunchbase, and many more.

About foresight

Launched in 2018, Forethought is a leading AI company providing customer service solutions that transform the customer experience. Forethought’s products enable seamless customer experiences by infusing human-centric AI into every step of the customer support journey: instantly resolving common cases, predicting and prioritizing tickets, and helping agents with knowledge. relevant, all from a single platform.

Previous The best and worst food products we tested this year
Next Covid-19 Live News: Boosters, Omicron Variant and Vaccines News