Now Interact secures $5M Series A Round from Industrifonden, SEB and Inventure
The machine learning platform Now Interact lands $5 million (SEK 44 million) in a Series A round led by SEB Venture Capital and Inventure together with existing owner Industrifonden. With the funding, Now Interact will continue investing in its platform, and expand the business to the US.
Now Interact’s platform helps businesses quickly leverage data to deliver a more personalized customer experience, generate maximum profit, and accelerate the digitalization of sales and service. Since its launch in 2014, the machine learning platform has reached $3.2million ARR. The company boasts a client roster of leading brands including Centraal Beheer, ComHem, SEB, Folksam, Tele2 and Three UK.
“Our vision is to become synonymous ith machine learning applications that deliver tangible business results. Owing to our success in Europe, and our dedicated partner programme, this funding will allow us to leverage the momentum of our first significant customer wins in the US to make the area our biggest market,” says Magnus Åström, CEO and founder, Now Interact.
SEB Venture Capital and early-stage venture capital firm Inventure led the investment round. Now Interact’s existing owner, and largest investor, VC firm Industrifonden, also participated in the round. Industrifonden made its first investment in Now Interact in 2014.
“It has been a pleasure to follow the company’s development over the last few years, where it now is very well positioned for continued fast growth. We are happy to be joined by such strong investors as SEB Venture Capital and Inventure, as the company now takes the next steps including launching in the US,” says Hadar Cars, Investment Manager at Industrifonden.
About Now Interact
Now Interact is a leading artificial intelligence vendor that offers targeted machine learning applications which optimize the bridge between digital and offline channels. Its artificial intelligence applications use real-time omnichannel data – including online, contact center, telesales and bricks & mortar – to drive personalized customer journeys and accelerate the digitalization of sales and service. Now Interact works with innovative broadband, e-commerce, energy, financial services, insurance and telecoms companies to optimize the profit from online and offline operations and become truly omnichannel. Headquartered in Sweden, Now Interact has offices in London, Amsterdam and Palo Alto.
Source: Industrifonden Press Release