Chatbot Creator Netomi Raises $ 30 Million

Starting the AI Netomi Inc, whose chatbots automate customer service, raised $ 30 million, promising to expand its operations to markets around the world.

Founded by Indian tech professional Puneet Mehta, Netomi uses artificial intelligence (AI) to automate personalized messages, and its chatbots speak with customers like humans, answering their questions about product availability and pricing.

On his website, Netomi says its chatbots automatically resolve over 80% of routine queries, allowing agents to focus on much more important tasks.

“Customer service is going through a crisis – it’s expensive for businesses, frustrating for customers and inconvenient for everyone” said Mehta. “The only proven option for providing 24/7, immediate, omnichannel support and building profitable customer relationships is with AI. “

The fundraiser values ​​the company at $ 210 million, with Mehta saying he will use the funding to open offices in London, Singapore, Toronto and Montreal.

As automation grows, Netomi’s revenue also grows. His income has tripled this year alone. Now, with new cash in hand, the startup is announcing that it will double its workforce over the next six months.

Netomi launched first-ever Facebook Messenger bot for Sony Pictures’ $ 100 million movie Goose bumps. He later teamed up with Facebook and Tommy Hilfiger to create bots for the retail industry.

“We believe Netomi’s AI-powered platform can have a transformational impact …” said ChenLi Wang, general partner of WndrCo, who led the startup’s latest fundraiser.

Netomi is headquartered in San Mateo, California, but most of its employees work from its other offices in New York City and Gurugram, India.

Virginia C. Taylor