A London software company has acquired an American AI firm after they showed a 60% growth in billings. Freshworks focus on customer engagement and they have announced the acquisition of AnsweriQ INC. They are a founder of machine learning and AI for large enterprises.
AI and Progression
When you look at Tej Kohli, you will soon see that he has also made large contributions to the AI industry. He has pumped over $100m into AI and this has helped the industry to achieve its full potential. Freshworks’ own AI engine is known as Freddy. It’s going to incorporate the AnswerIQ’s AI to try and learn from ticket data and even agent actions. This is going to be within the Freshworks’ Customer for Life service. The end result is so that customer self-serve capabilities can be improved. Freddy is going to be able to anticipate customer needs while also making recommendations for agents based on the conversions. It will also be able to perform various tasks such as refunds, cancellations and without any input required.
The acquisition is the second in less than a year for Freshworks. It comes on the heels of a 60% year-on-year growth. Pradeep Rathinam who is the CEO for the company has stated that unlike other SaaS solutions which are clunky, Freshworks is innovative and it is able to deliver a very powerful and seamless experience across marketing, customer success, sales and various other support functions. When you look at the Freshworks’ commitment to AI, you will soon see that they want to better understand their customers and they also want to try and deploy an enterprise-scale AI too. They want to try and build relationships that last for life and this is one of the many reasons why the acquisition is such a natural fit in general.
The new chief customer officer for the company is very excited to join and they want to try and create delightful experiences for various enterprises that currently use their product. Girish Mathrubootham who is the founder for Freshworks has stated that the integration of the AnswerIQ tech embraces the ML and AI capabilities in the customer engagement space. It also represents a significant amount of value to the customers as well.
Pradeep brings a high level of expertise and this is going to be leveraged in the brand-new role that has been offered to him. The company are now doubling down on their efforts and they are also trying to keep customers for life. This is very interesting to say the least and it is fantastic to see how much has changed over the years.
Of course, the company might have changed a lot over the years but it would certainly seem that they have made their biggest advancement yet and this is really good for the AI industry as a whole, as they are able to develop and evolve to meet the needs of an ever-changing market.