Adobe Stock
Fort Worth-based SmartAction, an artificial intelligence platform provider specializing in advanced Intelligent Virtual Agents (IVA) and conversational AI solutions, announced on Tuesday that it had closed of a new round of funding.
This latest funding round brings the current strategic growth capital amount to $38 million, signifying a major milestone for the company, officials said in a press release.
The funds will help advance the company's AI-powered technology platform and expand its commercial team to meet the growing demand for its customer support solutions.
“Our primary objective at SmartAction is to revolutionize customer support capabilities, providing consumer-facing enterprises with the ability to handle complex agent interactions in a cost-effective manner, while gaining valuable insights into their customers," said Kyle Johnson, CEO of SmartAction, in a statement. “Our clients choose our services because we excel in building brand loyalty and driving significant improvements in key customer metrics, as well as contact center ROI."
The funding round was led by existing investors TVC Capital and Staley Capital with the support of ORIX Corporation USA.
SmartAction announced its relocation from Los Angeles County to Fort Worth in 2021.
“We are thrilled to invest in SmartAction's growth, as we firmly believe that the company's offering is exceptional and highly valuable within the conversational AI market,” said Jeb Spencer, managing director of TVC Capital. “With the industry rapidly evolving and supporting increasingly complex virtual interactions, we are confident that SmartAction is well-positioned to capitalize on this opportunity and further expand its reach.”
Said Renny Smith, managing partner of Staley Capital: “SmartAction has built one of the most robust IVA and conversational AI solutions in the market and has an exceptional client base. This additional capital will allow the company to continue its impressive growth trajectory, funding additional sales and marketing resources, as well as engineering talent for building product line extensions.”