Cerebri AI Closes $5 Million Series A Financing Led By M12
Releases Cerebri Values to Empower Leading Enterprise Companies to Predict Customer Behavior Using Artificial Intelligence; Transforms Insights into "Next Best Actions"
AUSTIN, Texas, June 28, 2018 /PRNewswire/ -- Cerebri AI, a pioneer in using artificial intelligence and machine learning to create the industry's first universal measure of customer success, today announced it has closed its $5 million Series A funding round led by M12 (formerly Microsoft Ventures) with participation from the University of Texas Horizon Fund, WorldQuant Ventures, and Leawood Venture Capital. To date, Cerebri has raised $10 million and plans to use the new funding to expand operations in support of today's release of the Cerebri Values™ system.
Cerebri AI has spent more than two years developing its patent-pending Cerebri Values system, which is powered by machine learning and employs a radical new method of lifting customer success. Cerebri Values quantifies each customer's commitment to a brand or product and also dynamically predicts "Next Best Actions" at scale, which helps large companies focus on the highest-ROI tactics for accelerating profitable growth.
"We see an innovation opportunity for enterprises to use real-time customer data to curate better experiences and outcomes for their most valued relationships," said Elliott Robinson, partner at M12. "Cerebri has created a product that is fundamentally changing how customer-facing sales and success professionals can analyze the customer journey. By enabling companies to follow an individual customer across the various touchpoints within the enterprise, Cerebri has proven they're able to improve customer experiences and generate revenue lift."
More than ever, large enterprises are focused on transforming their businesses into customer-centric organizations, and are looking to measure customer engagement and retention to drive increased revenue in a highly competitive world. Cerebri AI customers include several Fortune 500 companies including three of the top ten global automakers and two global leaders in financial services.
"With the fantastic support from our investors and the capital raised in our Series A financing, today we are launching a truly revolutionary way for major enterprises to engage with their customers," said Jean Belanger, Cerebri AI's CEO and co-founder. "At Cerebri AI, we are enabling the science of lifting customer success."
Legacy approaches to customer experience have limited value as they lack a single benchmark that combines both marketing-driven systems of engagement and corporate-based systems of record. At the core of Cerebri Values is a system of intelligence that combines millions of all-inclusive customer journeys, built one customer at a time, measuring the specific impact of every single touchpoint – including sales, marketing, and customer service, using dollars as a common denominator.
The system has already ingested more than two billion customer touchpoints and events across 12 million consumers to rank, monetize, and provide completely customized "Next Best Actions" recommendations that lead to purchases and increased revenues.
Deployed as a SaaS application running on Microsoft Azure, Cerebri Values operates behind the corporate firewall, ensuring the highest level of security and safeguarding personally identifiable information.
About Cerebri AI
Cerebri AI, a pioneer in artificial intelligence and machine learning, is the creator of Cerebri Values™, the industry's first universal measure of customer success. Cerebri Values quantifies each customer's commitment to a brand or product and dynamically predicts "Next Best Actions" at scale, which enables large companies to focus on accelerating profitable growth. Headquartered in Austin with offices in Toronto and Washington, DC, the company has 50 employees who have been awarded over 130 patents to date. To learn more about the Cerebri AI, visit cerebri.com.
SOURCE Cerebri AI
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