CIBC Innovation Banking provided a growth capital facility to San Jose-based SupportLogic, a support experience platform designed to improve customer experiences and revenue retention.
The SupportLogic platform leverages artificial intelligence and natural language processing to extract and analyze underlying customer sentiment signals from structured and unstructured data surrounding support interactions. These signals turn into recommended actions that enable managers to prioritize the most critical cases, preemptively predict and prevent escalations, coach agents and reduce customer churn.
“SupportLogic has done a remarkable job in delivering AI-driven insights that enable support teams to prevent escalations, which historically have proven to be time consuming and financially costly,” Youssef Kabbani, director in CIBC Innovation Banking’s office in Menlo Park, CA, said. “The team, led by founder and CEO Krishna Raja, has been very successful in attracting some of the largest and most complex technology companies to its platform and we are very excited to work with the company as it scales to greater heights.”
“SupportLogic is empowering world-class B2B enterprise companies to transform their support experience and their brand impressions,” Raja said. “Working with CIBC Innovation Banking is going to help us to scale our business and with market expansion.”
SupportLogic plans to leverage the growth capital facility to continue building new features and products to further assist support teams, management and executives.
SupportLogic’s existing investors include Sierra Ventures, Sorenson Ventures, WestBridge Capital Partners and General Catalyst.
