ClearFeed Secures $2.7M in Seed Funding to Transform Enterprise Conversational Support
- ByStartupStory | October 5, 2023
ClearFeed, a conversational support platform designed for enterprises, has announced securing $2.7 million in seed funding. The funding round was led by Peak XV’s Surge, with participation from 8VC and other angel investors. ClearFeed plans to utilize the new funds to support its next stage of growth, focusing on product development and expanding its go-to-market teams in India.
In today’s remote work-oriented business landscape, companies are investing in robust digital infrastructure. This shift has led to the widespread adoption of chat services like Slack and Microsoft Teams for streamlining both internal and external communications. Slack Connect, a feature enabling collaboration with external organizations, is used by over 100,000 organizations, including 77 of the Fortune 100 companies. Microsoft Teams, on the other hand, recently surpassed 300 million monthly users, with cost-saving benefits for companies through reducing worker inefficiencies.
As businesses increasingly rely on chat services for managing employee and customer requests, there is a growing need for conversational support tools that can facilitate cross-departmental collaboration. However, conventional chat platforms often lack the structured tracking systems and metrics required by larger teams. Service teams struggle with handling high query volumes, repetitive tasks across different tools, and difficulties in closing the loop with chat stakeholders.
ClearFeed addresses these challenges by streamlining customer and employee requests on Slack and Microsoft Teams using AI models to track and escalate inquiries. This allows different departments to interact seamlessly, while service teams gain efficient tracking and response capabilities, ensuring peak efficiency.
Since its launch, ClearFeed has rapidly expanded its product features, including triage channels, one-click ticket filing, and live two-way data syncing with eight industry-leading software tools like Zendesk, Jira, FreshDesk, HubSpot, Github, Linear, Intercom, and Salesforce. ClearFeed also introduced OpenAI’s advanced GPT-4 system to index product documentation, knowledge bases, and wikis, automatically generate answers to user queries, and assist agents in resolving queries.
ClearFeed’s dedication to product development has resulted in significant growth since early 2023, with a tenfold increase in revenue and a doubling of its workforce in India offices. In the last quarter alone, ClearFeed was adopted by over 100 organizations globally, including industry leaders such as Atlan Data, Last9, Sprinto, and Plum Insurance, with over 10,000 users worldwide.
Business customers using ClearFeed reported creating up to 90% of their tickets on Slack and collaborating on more than 40% of tickets within Slack, enhancing collaboration and response times.
Joydeep Sen Sarma, co-founder of ClearFeed, commented on the transformative potential of ClearFeed in revolutionizing enterprise support and communication: “Customer service support and communication within organizations is undergoing a rapid transformation, particularly with the significant volume of conversations occurring on platforms like Slack daily. Sifting through these conversations and requests can be time-consuming and unproductive for organizations. ClearFeed is a platform that can elevate the customer service experience and streamline work discussions efficiently. We’re thrilled to embark on the next phase of our growth, fueled by the fresh funds, as we look to introduce more product features.”
Bhaskar Ghosh, Partner and CTO of 8VC, emphasized the alignment of ClearFeed’s technology-driven approach with 8VC’s mission: “ClearFeed’s dedication to revolutionizing enterprise support with cutting-edge technology aligns seamlessly with 8VC’s mission to champion groundbreaking enterprise AI solutions. This funding round positions ClearFeed to disrupt the SaaS and B2B support landscape, giving companies the competitive edge they need in today’s dynamic market. We’re excited to partner with them as they lead the way into a new era of AI-driven enterprise excellence.”
Ashwin Murali, Director of Customer Success at Atlan Data, highlighted ClearFeed’s positive impact: “We operate 100’s of Slack channels for customers, and Clearfeed has made it much simpler to manage them with its deep integrations between Slack and Zendesk.”
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ClearFeed, founded in September 2021 in Bangalore by Ankit Jain, Joydeep Sen Sarma, and Lalit Indoria, has rapidly gained traction in the enterprise support space with its innovative approach to improving communication and collaboration in chat services.
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