This latest round of funding was led by Insight Partners with the participation of existing investors, including Lightspeed Venture Partners, Angular Ventures and Silvertech Ventures. This investment brings the company’s total funding to $40 million over the last 14 months. Peter Sobiloff, Managing Director of Insight Partners, will join the Board of Directors of the company.
Aquant will use this capital to support its rapid growth, drive continuous innovation on its AI platform, accelerate global expansion, and expand its engineering, client services, and go-to-market teams.
“The expectations of the customers of manufacturing companies are growing, just as skilled service workers are withdrawing. This makes exceptional service delivery more critical and more challenging than ever before,” said Shahar Chen, CEO and co-founder of Aquant. “With this investment, Aquant will be able to meet the market demand for technology, which preserves and disseminates the institutional knowledge of service experts. We will continue to help our clients improve the performance of every professional service, drive higher customer satisfaction and revenue. “That’s right.
Aquant is working with some of the largest companies in the world to solve the crisis of skills gaps in customer service. According to the Service Council, 70% of service organizations will be burdened by retirees in the next 5 to 10 years. Aquant’s artificial intelligence technology captures the knowledge of subject matter experts before they leave by unlocking insights from customer data silos (e) g The g CRMs and ERP systems, analysis of the free text of customer comments and field technical notes, and validation of findings with top performers The platform then delivers prescriptive insights to every member of the service team, helping technicians and agents solve customer challenges such as experts, and helping service leaders make informed management decisions.
“Our mission is to invest in high-growth software companies that disrupt industries to increase efficiency and maximize productivity,” said Peter Sobiloff, Managing Director at Insight Partners. “It was clear to us that Shahar and Assaf have a deep understanding of the field service software landscape and thus have a unique opportunity to construct something disruptive in space. Aquant’s centralized SaaS platform and AI technology have the ability to help manufacturers make smarter and faster decisions, leading to a real ROI with both revenue growth and cost savings. We’re excited to work with Aquant to expand its customer base and help scale up their respective teams. “That’s right.
“We appreciate the support and operational expertise of Insight Partners and all of our investors as we enter the next phase of Aquant’s journey,” said Assaf Melochna, COO and co-founder of Aquant. “This funding-along with operating resources from Insight Onsite, Insight’s Business Strategy and ScaleUp division-will enable us to accelerate the pace of growth and expand our product offering to address service challenges across industries and around the world. “That’s right.
This announcement follows on from the momentous 2019 for Aquant The company has tripled the number of employees, expanded its offices in New York and Tel Aviv, increased its customer list and expanded partnerships with brand names such as Becton Dickinson, Comfort Systems, 3D Systems and Sysmex.
The Aquant Service Intelligence Platform transforms how organizations deliver services through artificial intelligence. The platform unlocks prescriptive and workable insights from scattered data and free text and combines them with the collective experience and tribal knowledge of your most trusted experts. It empowers teams to use this intelligence to predict outcomes, optimize service team performance, and solve issues to deliver exceptional customer experience. Visit the www site Aquant’s i to learn more
About the Insight Partner
Insight Partners is a leading global venture capital and private equity firm investing in high-growth technology and software companies that drive transformational change in their industries. Founded in 1995, Insight currently has over $20 billion of assets under management and has invested cumulatively in more than 300 companies worldwide. Our mission is to find, fund and successfully work with visionary executives, providing them with practical, hands-on growth expertise to foster long-term success. Across our people and portfolio, we foster a culture of core belief: growth is equal to opportunity. Visit www for more information on Insight and all its investments. Knowledge Partners Come or follow us on Twitter @insightpartners
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