Rasa Raises $30 Million in Series C Funding to Grow Conversational AI Platform
Rasa, an enterprise-focused development platform for conversational AI, has just raised $30 million in a Series C funding round led by StepStone Group and PayPal Ventures.
The company aims to redefine how businesses use generative AI-powered chat and voice platforms at scale.
Rasa's open and extensible conversational AI powers AI assistants that align with its customers' business logic and provides meaningful and practical user engagement.
The new funding will allow Rasa to continue growing its team, adding marketing, sales, engineering, customer success, and other positions in both North America and Europe.
The company's solutions power two of the world's top three banks, major insurers, global travel and hospitality companies, and other large, global brands.
Why Conversational AI is the Future of Customer Experience
Conversational AI is transforming customer experiences and revolutionizing retail operations with 24/7 support, personalized service, and improved customer engagement.
According to a recent blog post by Rasa, conversational AI provides contextual responses and out-of-the-box handling of conversations even when users journey away from the planned experience frustration, or say something unexpected.
Rasa elevates the natural flow of conversations by comprehensively considering user context in every interaction.
Such enhancements improve customer service and significantly increase the probability of resolving the customer request.
Unlocking Business Value through Conversational AI with Language Models
Rasa's conversational AI platform is powered by language models that provide nuanced understanding and fast time-to-value.
CALM (Conversational AI with Language Models) is a major innovation developed at Rasa that combines the flexibility, nuanced understanding, and fast time-to-value of Large Language Models (LLMs) with the control and certainty of traditional (NLU-based) chatbots.
Building great assistants with CALM requires up to 90% less work than a traditional chatbot.
Assistants built with CALM understand nuance and handle digressions out of the box. They are much smarter and provide a much better experience for the end user.
What it Means for Customer Success at Rasa
The new funding will allow Rasa to continue growing its team, adding customer success positions in both North America and Europe.
Rasa's customer success team will work closely with customers to ensure they are getting the most out of the platform and achieving their business goals.
The team will provide training, support, and guidance to help customers build and deploy successful conversational AI solutions.
With the new funding, Rasa will be able to expand its customer success team and provide even better service to its growing customer base.
And That’s It
Rasa's latest funding round is a testament to the growing importance of conversational AI in the enterprise space.
With its innovative CALM platform and focus on customer success, Rasa is well-positioned to lead the way in this rapidly evolving field.
-Hakan.
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