Brainfish raises $10m to define the future of AI-enabled customer support
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The news: Australian AI startup Brainfish has secured pre-Series A funding and announced plans to establish its headquarters in the United States.
The latest funding round was led by Prosus Ventures, with participation from existing investors Peak XV's Surge and Macdoch Ventures.
The numbers: Brainfish raised $US6.4 million ($10 million) in this pre-Series A round, bringing its total funding to $US10 million ($15.7 million).
The company serves more than 5 million users worldwide and has achieved 400% year-over-year growth. Early adopters report 70% to 90% fewer support tickets and a 30% to 40% increase in customer satisfaction. Brainfish is targeting a serviceable market worth $US22.6 billion ($35.5 billion) within the $US350 billion ($549.5 billion) global customer experience market.
The context: The company, which develops AI-powered customer experience solutions, will use the funding to scale its engineering capabilities and expand its global presence.
Founded in 2022, Brainfish combines generative AI with computer vision to provide real-time customer support within digital products. The company has developed its vision pipeline in collaboration with NVIDIA and currently serves customers across Australia, Asia, the UK and the United States, including ASX-listed Mad Paws and Relevance AI.
The sources: Brainsfish Blog, Brainfish press release
