CIBC Innovation Banking is pleased to announce a growth capital facility for San Jose-based SupportLogic, Inc. (“SupportLogic”), a support experience (SX) platform designed to proactively improve customer experience and revenue retention.
The SupportLogic platform leverages AI and natural language processing to extract and analyze underlying customer sentiment signals from structured and unstructured data surrounding support interactions. These signals turn into recommended actions that enable managers to prioritize the most critical cases, preemptively predict and prevent escalations, coach agents and reduce customer churn.
“SupportLogic has done a remarkable job in delivering AI-driven insights that enable support teams to prevent escalations, which historically have proven to be time consuming and financially costly,” said Youssef Kabbani, Director in CIBC Innovation Banking’s Menlo Park office. “The team, led by founder and CEO Krishna Raja, has been very successful in attracting some of the largest and most complex technology companies to its platform and we are very excited to work with the company as it scales to greater heights.”
“SupportLogic is empowering world-class B2B enterprise companies to transform their support experience and their brand impressions,” said Krishna Raja, Founder and CEO, SupportLogic. “Working with CIBC Innovation Banking is going to help us to scale our business and with market expansion.”
SupportLogic plans to leverage the growth capital facility to continue building new features and products to further assist support teams, management, and executives.
SupportLogic’s existing investors include Sierra Ventures, Sorenson Ventures, WestBridge Capital Partners and General Catalyst.
About CIBC Innovation Banking
CIBC Innovation Banking delivers strategic advice, cash management and funding to innovation companies across North America, the UK, and select European countries at each stage of their business cycle, from start up to IPO and beyond. With offices in Atlanta, Austin, Boston, Chicago, Denver, Durham, London, Menlo Park, Montreal, New York, Reston, Seattle, Toronto and Vancouver, the team has extensive experience and a strong, collaborative approach that extends across CIBC’s commercial banking and capital markets businesses in the U.S., Canada, the UK, and select European markets.
SupportLogic delivers the world’s first support experience (SX) platform that enables companies to proactively understand and act on the voice of the customer to build healthy relationships and maximize customer lifetime value. SupportLogic SX uses AI to extract and analyze customer sentiment signals from both structured and unstructured data and provides recommendations and collaborative workflows. SupportLogic is helping global enterprises like Databricks, Qlik, Nutanix, Rubrik, and Snowflake to prevent customer escalations, reduce churn and elevate the customer support experience.
View source version on businesswire.com: https://www.businesswire.com/news/home/20221103005137/en/
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