We are proud to share that Solvvy has raised $4.5M in seed funding to further our vision of transforming the customer experience for the enterprise. The seed funding was led by True Ventures with participation from incredibly supportive institutional investors including Pear Ventures (thank you, Pejman Nozad and Mar Hershenson), Signatures Capital (thank you, Bobby Yazdani), IGSB (thank you, Reece Duca and Tim Bliss) and Carnegie Mellon University (thank you, Dave Mawhinney) alongside great angel investors (thanks Dan Rose, Hamid Barkhordar and Payman Pouladdej). Our team is exceptionally grateful for their steadfast commitment to our technology, our product and our vision. We owe them much for their unwavering faith and support.
When Mehdi and Justin met during their PhD studies at Carnegie Mellon University, they shared a passion for bringing advanced technology into the lives of everyday users. Thanks to the support of early backers like Pejman Nozad and Bobby Yazdani, the duo moved from Pittsburgh to Palo Alto and partnered with Mahesh to apply Solvvy’s advanced science to the enterprise. Today we are excited to share our mission with the world and tell you about the strong progress we’ve made.
The Pain Point
Have you ever needed an answer right now to a problem or issue with a product or company? Did you have to wait hours or days for a support representative to get back to you? Or wasted precious time trying to parse long help center articles for the one sentence or paragraph that could have actually solved your problem?
We’ll bet you have. And we have too! We refused to believe this status quo was acceptable. Why does a user need to wait for an agent to reply when there is a great answer in the knowledge base or the right answer has been given before?
We imagined a world where this could all change, a world where:
- Users could ask questions in completely natural language and get specific, accurate answers.
- Users could receive the knowledge they needed in the form of relevant, bite-sized solutions.
- Every successful interaction with the business could enhance the next user’s experience.
- Companies could make this advanced technology instantly available for their customers.
Our First Product
Interacting with customer support can sometimes be a painful process, both for the business and its customers. But we believe great technology can remove a lot of that pain for both sides.
Our first product, Solvvy for Support, delivers great answers immediately to the complex issues or questions a user has about a product or solution. Our machine learning application learns from past interactions to answer a high number of incoming support tickets. The results are remarkable: CSAT scores skyrocket and incoming ticket volumes are reduced by up to 7- 20%. Leading brands like Amazon’s Alexa.com, Upwork, TaskRabbit and DoubleDutch rely on Solvvy to improve customer satisfaction and reduce customer support costs.
The Path Moving Forward
Solvvy is bringing meaningful business value to our customers, and assisting with thousands of support interactions daily. We are humbled by the opportunity to radically transform business interactions and improve efficiency for both the end-user and businesses. But our vision for the future of self-service and conversational commerce is much broader and more ambitious.
Here’s to the future!
The Solvvy Team