CrowdCare has unveiled a name change to become Wysdom.AI and announced $8.5 million in capital along with the new nomenclature.
The additional funding tops the investments the company received earlier this year and was led by ScaleUP Ventures with participation from Brightspark Ventures and Mantella Venture Partners. Both ScaleUP and Mantella were original investors in the company back when it was known as CrowdCare. The new capital will continue to fuel the global expansion of Wysdom.AI’s industry-leading cognitive care solution for the enterprise.
If the name Wysdom sounds familiar, it’s because it was the name of Wysdom.AI’s (then CrowdCare) first app launched roughly three years ago.
The rebrand comes at a time when Wysdom.AI knows a huge portion of IT leaders invest in or deal directly with AI technologies. With clients around the world, the Toronto-based Wysdom.AI can leverage their abilities in AI-based digital care to break into the emerging market.
“We’ve been monitoring the AI hype for the past few years, and have sought out companies with real operational experience in the market,” said Kevin Kimsa, general partner at ScaleUP. “Wysdom.AI is solidly positioned to capitalize on the wave of enterprise demand that will happen over the next few years.”
Wysdom.AI allows the enterprise to deliver tailored customer care across multiple digital channels (from Facebook Messenger to in-app) in languages including English, French and Spanish. Wysdom offers a full solution suite with operational tools, tech stack, a large corpus and an experienced AI supervision team.
As more support-seeking interactions are created, Wysdom will add new questions and answers to its roster. There are over 125,000 specific customer questions and a 97.5 per cent precision rate.
“We saw an opportunity years ago to combine the emergence of machine learning applied to understanding a natural language phrase from a customer with a massive amount of customer data that would refine that understanding,” said Ian Collins, CEO and co-founder of Wysdom.AI.
“After applying that formula successfully to our first few large enterprise clients and spending a few years evolving the solution in partnership with our customers we’ve found ourselves in a perfect position to dominate the emerging category of cognitive care.”
Wysdom.AI hopes the new rebranding solidifies their stance on AI becoming more of a real tool that can tangibly improve lives, rather than a technology being relegated to simple chat bot functionality.