Toronto AI chatbot provider Ada Support raises $44-million as usage spikes during pandemic [Toronto Globe and Mail (Ontario, Canada)]
Shopify Inc. Class A Subordinate Voting Shares (SHOP)
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Source: Toronto Globe and Mail
Ada Support Inc., a Toronto artificial-intelligence startup that has become a go-to customer service “chatbot” provider for online companies has raised US$44-million led by venture capital firm Accel. The financing comes as Ada’s 1-plus clients deal with a quadrupling in customer inquiries through its chatbot software this month from February, said Ada chief executive officer Mike Murchison. “People are more at home right now” because of the pandemic. “As a result they tend to be using digital services more and customer service channels are experiencing higher volumes.” Chatbot software reduces the time for companies to answer customer questions by providing automated answers, helps human service agents become more productive, and captures data from inquiries that help guide business strategies. Story continues below advertisement Ada had already tripled sales in each of the past two years and is generating revenue at a rate of US$1-million-plus annually. Its customers include retail
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SHOP
Earnings
- 2/13/24 - Beat
SHOP
Sec Filings
- 3/22/24 - Form 144
- 3/22/24 - Form 144
- 3/22/24 - Form 144
- SHOP's page on the SEC website