Awaken Intelligence, an AI enhanced Software Developer, Raises £681K+ via Crowdcube

Awaken Intelligence, an AI or artificial intelligence-enhanced software, which helps contact centers to improve call time & customer satisfaction, analyzing conversations in 38 languages, has secured 123% (£681,501.18) of its £550,000 fundraising target from 190 investors with 1 day left in the firm’s crowdfunding campaign (at the time of writing), carried out via Crowdcube.

Based in the United Kingdom, the company offers Equity 3.44%, EIS. The company reports a pre-money valuation of £19,105,278; a £0.19 share price.

As explained in the update, Awaken Intelligence is an AI-powered software, which helps contact centers to enhance overall call times and client satisfaction, examining conversations in 38 major languages. With a monthly average revenue of £118k Jan-June22 (Total Net loss -£546k) & £1.89m rev in 21 (Net loss -£215k), they’re raising “to expand their sales & marketing.”

Key business highlights are as follows:

  • Own the IP of a tech that saves call-time & potential to increase customer satisfaction by 49%
  • Revenue growth of 817% in last 2 years (£1.89m revenue in 2021, P&L -£215k)
  • 461 Customers in USA, UK, Australia & Europe with client retention of 98.6%
  • AI-Driven contact centre market predicted to be worth $93.7 billion globally by 2027

As noted in the update:

“Have you ever waited in a call queue, been put on hold, transferred and had to repeat everything? At Awaken Intelligence we solve this problem through our own contact centre software platform that blends human interaction with AI-powered automation, providing an improved customer experience, saving time & eliminating the problem of human error.”

The firm added:

“Analyzing conversations in over 38 languages, we use Artificial Intelligence (AI) in real-time to guide human agents, by connecting to multiple systems & retrieving the correct information. By using APIs we can easily integrate into any database, phone, email or chat system. Opus Industry Survey reports that when companies use speech analytics there’s a potential increase in customer satisfaction by 49%, productivity by 40% and Marketing & Sales by 21%.”

Since launching in 2019, average revenue growth “for the past 2 years is 817% to £1.89m in 2021, with total rev of £150k in May 22 (Net profit -£109k).”

The company claims they “have 461 customers in the USA, Europe & Australia, with a client retention rate of 98.4%.”

Their solution was “used by the UK Gov-COVID Track and Trace Project, which employed ~30k agents.”

With the AI-Driven contact center market predicted to be worth $93.7 billion globally by 2027, the firm claims that the “opportunity is significant.”

They’re raising funds “to expand the business by accelerating sales & marketing.”

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