Using generative AI, UpdateAI is revolutionizing customer success management by reimagining post-sales workflows and increasing productivity.
A $2.3 million investment round lead by IdealabX was secured by UpdateAI, the ChatGPT-powered client Success platform that creates Smart Summaries of client meeting notes and automates CS follow-up procedure. Additionally taking part in the investment were Stage Venture Partners, Zoom Ventures, a16z’s Scout Fund, and Howard Morgan. Previously raising $1.7 million, UpdateAI now has $4 million in funding.
“Customer Success is one of the most crucial commercial activities in any SaaS organization, given the state of the SaaS economy today. And yet, CS teams are expected to perform more tasks with inadequate resources and outdated tools,” according to Josh Schachter, co-founder and CEO of UpdateAI. “With this funding, we are launching a solution that saves CS teams significant time that can be used to expand account coverage and think more strategically.”
UpdateAI’s software, the product of two years of intense research and development, uses unique conversational AI technology linked with ChatGPT to recognize and assess the most important signals for post-sales teams. The software automates things that need to be done after a call, like sending clients follow-up emails and sharing notes with other platforms like Salesforce.
Director of Customer Success at Hunt Club and UpdateAI user Jenny Calvert remarked, “UpdateAI allows me to remain fully present in my meetings. I don’t need to pay attention to anything besides what is happening with my customer, not even taking notes.”
The company’s long-term goal is to elevate the role of Customer Success teams by enabling them to leverage conversational data in a cross-functional way, even though the present product focuses on increasing productivity. According to Mickey Powell, Head of Go-to-Market at UpdateAI, “Customer Success is often undervalued due to the difficulty in quantifying its core value: effective customer management.” Our platform “creates measurable, shareable, and insightful customer conversations.”
Unlike other conversational platforms that solely serve sales teams, UpdateAI stands apart from them. The company imagines a time when important call moments are effortlessly shared across teams, account needs are closely tracked throughout the customer journey, and ineffective customer meetings are a thing of the past.
With the introduction of generative AI technology, Howard Morgan, investor and board director of UpdateAI, stated that “we are witnessing the dawn of a new era.” “This game-changing invention has the power to completely change a wide range of industries, and we are thrilled to support UpdateAI’s mission to reinvent customer-centric operations.”
UpdateAI has received funding from CS Angel, an investment company made up of leading Customer Success leaders and operators, and has now received its first investment. “We are overjoyed that UpdateAI received CS Angel’s first investment. Our investors have a great deal of respect for their creative solution to a huge industry dilemma,” according to Gemma Cipriani-Espineira, creator of CS Angel and former Chief Customer Officer of Chili Piper.