Aquant, the service intelligence platform, which algorithmically mines and analyzes data from various sources to learn manufacturing, utilities, and telecom companies’ unique service languages and map customer problems to solutions, closed a $30 million Series B funding round.
Insight Partners led the funding round with participation from existing investors, including Lightspeed Venture Partners, Angular Ventures, and Silvertech Ventures. As part of the investment, Peter Sobiloff, Managing Director at Insight Partners, will join the company’s board of directors.
The Series B round brings the company’s total funding to date to over $40 million.
According to the company, the new funds will support its growth, drive the AI platform’s innovation, accelerate global expansion, and grow engineering, client services, and go-to-market teams.
“The expectations from customers of manufacturing companies are growing, just as skilled service workers are retiring. This makes exceptional service delivery more critical and more challenging than ever,” said Shahar Chen, CEO and co-founder of Aquant.
“With this investment, Aquant will be able to meet the market demand for technology that preserves and disseminates the institutional knowledge of service experts. We will continue to help our clients elevate the performance of every service professional, driving higher customer satisfaction and revenue.”
The Aquant artificial intelligence platform captures the knowledge of subject matter experts by extracting insights from data silos like customer relationship management platforms and enterprise resource planning software. The platform analyzes the text of customer comments and field technician notes and validates its findings with top performers before delivering prescriptive insights to every member of the service team.
“Our mission is to invest in high-growth software companies that are disrupting industries to create more efficiency and maximize productivity,” said Peter Sobiloff, Managing Director at Insight Partners. “It was clear to us that Shahar and Assaf have a deep understanding of the field service software landscape and, with this, have a unique opportunity to build something disruptive in the space. Aquant’s centralized SaaS platform and AI technology has the ability to help manufacturers make smarter and faster decisions, which leads to real ROI with both revenue growth and cost savings.”