Accel heads up major Ada funding round

AI-powered customer service chatbot startup Ada has raised $44 million in a Series B funding round led by Accel.

Existing investors Bessemer Venture Partners, FirstMark, Version One, Leaders Fund and Burst Capital also participated.

"Our founding team spent over a year in the trenches of customer support and saw firsthand that existing solutions just couldn't scale in the face of soaring ticket volumes and sky high customer expectations," says Mike Murchison, Co-founder and CEO, Ada.

"We designed Ada to help customer service teams take advantage of all the benefits of automation without sacrificing the personalised touches that are so essential to winning loyal, long-term customers.”

“We will use this investment to lead the next phase of this market, extending our best-in-class AI with the aim of delivering personalised experiences across all customer properties, while providing more tools to help businesses better calibrate their customer service strategy and optimise their bottom line."

"Although AI gets thrown around a lot in the enterprise, we are focused on companies offering solutions that are driving real business value, and Ada is doing exactly that,” comments Ben Fletcher, Partner at Accel.

“Ada is breaking through the crowded market of chatbots to define a new category of automated customer experience that can manage far greater customer inquiry volumes while delivering some of the strongest customer satisfaction scores we've seen.”