Neuron7.ai, a platform specializing in service resolution intelligence, has successfully raised $44 million in Series B funding, with Smith Point Capital, led by former Salesforce co-CEO Keith Block, at the helm. Existing investors, Nexus Venture Partners and Battery Ventures, also participated in the oversubscribed round, bringing the company’s total funding to over $63 million.
Neuron7.ai is renowned for resolving challenges in complex service environments and is now eyeing significant growth in India. The company, which operates in Bengaluru, aims for a 10x growth by 2024, focusing on recruiting talent in data science, search, natural language processing (NLP), infrastructure, engineering, and quality assurance (QA). The fresh funding will support this expansion and elevate the Bengaluru office to a global hub for AI engineering and innovation.
The expansion will be spearheaded by key figures, including Chetan Kalyan, Abinaya Govindan, and Gyan Ranjan, all playing pivotal roles in developing AI-powered solutions. Neuron7 recruits top-tier talent from institutions like IITs, NITs, and IIMs, and plans to establish research labs at IIT Delhi, IIT Mumbai, and IISc to support AI and data science students.
CEO Niken Patel stated that their “Smart Resolution Hub” integrates human knowledge and data, offering enhanced decision-making and quicker resolutions for service-related challenges. In the past year, Neuron7 has boosted its annual recurring revenue (ARR) by 300% and expanded its client base to leading industries such as medical devices and high-tech equipment.
This latest funding will accelerate Neuron7’s product innovation and help scale its enterprise-centric go-to-market strategies, ensuring the company remains a leading force in the service industry.
