Zowie, a New York-based AI-powered chatbot built for e-commerce teams, has nabbed $14 million in Series A funding. With this, the total funding secured by Zowie is $20 million.
The financing round was led by Tiger Global Management that invested in Zaraye along with participation from Gradient Ventures (Google’s AI-focused fund that invested in Walnut), 10xFounders (investor in Revolut, Robinhood, Adyen), and Inovo. Also, strategic investor Jack Altman (CEO at Lattice) participated in the round.
How will it use funds?
This latest round of funding will support Zowie’s mission to enable better online customer experiences and extend its industry-leading automation capabilities to new channels, including email. The funds will also support the company’s commercial growth and international expansion by hiring more sales for its go-to-market team in the United States.
“Customer service is the new marketing,” said Maja Schaefer, CEO, and Co-Founder at Zowie. “Every interaction with customers is an opportunity to sell. Zowie enables brands to improve their customer relationships and start generating revenue from customer service. Our latest funding is an exciting moment for us and will unlock even better solutions for our customers.”
“The momentum powering Zowie is evident – the trajectory is clear for an investor as seen by increased revenue and the value delivered to customers,” said XX of Tiger. “Zowie has the most advanced and easiest to manage chatbot on the market and given the growth of the e-commerce vertical and increased consumer spending globally, it is uniquely positioned to continue reaching more eCommerce customers and expanding the business on a global scale.”
AI chatbot automation for e-commerce
Zowie was founded in 2019 by Maja Schaefer and Matt Ciolek. It operates between its commercial office in New York with development offices across Poland. Its technology helps e-commerce merchants deflect repetitive questions, provide hands-on care for customers who need it most, and proactively sell to high intent prospects.
Zowie seamlessly integrates with all eCommerce tools such as Shopify, Recharge, Klaviyo, and more.
What does Zowie do?
Customer service teams at e-commerce brands are constantly struggling to keep up with growth and increased customer acquisition costs while still providing an exceptional customer experience. Recent market data from Aisle Rocket shows that Facebook ad prices have surged 30% year-over-year before the pandemic with a 30% rebound this year, which means pricing will continue to increase.
Currently, Zowie is the only AI-powered chatbot built specifically for e-commerce teams who want to drive sales through customer support. Powered by cutting-edge AI technology, it automates 70% of inquiries e-commerce brands typically receive.
Unlike traditional chatbot solutions in the market, Zowie couples its automation capabilities with a powerful suite of tools that allows agents to provide timely, personalised care and product recommendations. The end result delighted customers, higher conversion rates, and more revenue.
The ready-to-use automation supported by an open API enables Zowie’s customers to quickly set up automation like order status, subscription management, parcel tracking, and more.