Level AI recently raised $39.4 million in a Series C funding round, bringing its total funding to $73.1 million. The funds will be used to expand the platform to new customer segments and grow its workforce. Companies including Affirm, Penske, and Carta are already using Level AI. Despite not disclosing revenue figures, Nagar is optimistic that the company could reach $50 million in annual recurring revenue in the next two years.
Key takeaways:
- Ashish Nagar, an engineer who previously worked at Amazon’s Alexa org, founded Level AI in 2019. The company offers AI-powered tools to automate various customer service tasks, such as scoring contact center agents on metrics like total conversations and “dead air.”
- Level AI can also show hints to agents throughout a conversation with a customer, gauge a customer’s sentiment and respond appropriately, and hosts coaching tools designed to help managers improve agent performance.
- Despite the potential benefits, there are concerns about data privacy and security, the need for seamless integration with existing systems, ensuring AI accuracy and reliability, and addressing potential job displacement fears. Nagar says Level AI is built to address these concerns.
- Level AI recently closed a $39.4 million Series C funding round. The fresh capital will be used to expand the platform to new customer segments and to expand its 135-person workforce by at least a dozen people in the next six months.