Stockholm-based Mavenoid, a seamless customer chat support platform, has announced to have scored $30 million in Series B funding. The investment round was led by UK-based VC Smedvig Capital. Previous investors including Creandum (who recently funded YuLife and Distribusion), Mosaic, and Point Nine Capital, as well as new investors NordicNinja, ABB Technology Ventures, and financing partner SVB UK also participated in the round.
The competitive customer support space
The investment will be used to further develop Mavenoid’s AI and technology, and scale the business globally to meet the demand for support solutions from companies with physical products. The announcement comes after significant growth for Mavenoid in the competitive customer support space with companies such as Jabra, Husqvarna, Medion and more among its customer base.
Shahan Lilja, Co-Founder and CEO at Mavenoid said, “These funds will allow us to continue to invest in our cutting edge technology and AI, while also scaling our operations so we can empower more hardware brands with great support experiences. We’re delighted to be partnering with Smedvig Capital, Creandum, our other new and existing investors in this next chapter.”
Peter Duffy of Smedvig Capital said, “Since we first met Mavenoid several years ago, we’ve been excited by the potential of the market they’re disrupting and their vision to own the hardware support category. Over the last few years, Mavenoid has made outstanding progress in developing its technology and expanding its world-class team. We’ve been highly impressed by their traction and the exceptional feedback they’ve generated from their customers. We’re thrilled to be partnering with Shahan, Gintas, and the entire Mavenoid team and look forward to supporting them on the next phase of their journey.”
“Since we co-led Mavenoid’s seed round in 2018, the company has demonstrated a steady growth rate and ever-increasing efficiency rates,” said Staffan Helgesson, General Partner at Creandum. “Looking at the huge market potential that’s still ahead of Mavenoid, we couldn’t be more excited to continue our support of Shahan, Gintas, and their team. We’re bullish on their quest to become the global leader in making hardware companies work smarter and boost their sustainability.”
Brings AI and video calling
Founded in 2017 by two former Palantir employees – Shahan Lilja and Gintautas Miliauskas in Stockholm, Mavenoid is touted to be the world’s leading product support platform for hardware and consumer electronics brands.
The Swedish startup’s hardware support platform empowers any brand with physical technology products such as consumer electronics, home appliances, micro-mobility, and industrial machinery to provide seamless support to its customers.
With Mavenoid’s AI-powered self-service, remote, and support automation tools, companies can provide high-quality support that resolves customers’ product issues in the quickest, most cost-effective way possible, saving companies time and resources that would otherwise be put towards support overhead.
What’s more, Mavenoid’s platform can work as a standalone service or can be plugged into existing support technologies such as Zendesk and Salesforce. Further, the platform is also backed by remote support tools such as live chat and interactive video calling.
Further, Mavenoid has operations across the globe, including the US, UK, EU and Canada.
