Mavenoid Cross device e1661872357752

Mavenoid, which automates technical support and onboarding for hardware companies, $30M – Technology Flow

Mavenoid, a Swedish company that provides both human and AI-enabled support and troubleshooting tools for hardware companies, has raised $30 million in a Series B round of funding.

Founded in Stockholm in 2017, Mavenoid works with hardware and consumer electronics companies including HP, Husqvarna and Jabra, providing services to automate technical support and onboarding of customers for everything from printers and ovens to electric scooters and industrial equipment.

Providing technical support for physical products comes with a number of unique problems — problems that cannot be solved by screen-sharing or other solutions borrowed from the software sphere.

Typically, someone who has issues with a new dishwasher or coffee maker, for example, would have to return their product to the store where it was purchased or send a company field-service agent to physically inspect the item — but to avoid these costs Mavenoid uses a dual AI-guided self-service system and an agent. -Support adopts live video support.

“The way you solve physical product problems, and the tools you need to be successful, are actually different from how you solve software or service problems,” says co-founder and CEO of Mavenoid. Shahan Lilja explained to Technology Flow. “Rather than trying to use generic solutions for specific problems, we believe it’s best to have the right tools for the job. Hardware problems are recurring, difficult and time-consuming to fix. By automating a significant portion of these repetitive – but often complex – support requests, companies can save costs by reducing overhead and allocating resources elsewhere in the organization.

Technical support

Along with live support, Mavenoid gives companies access to interactive video tools through which the customer connects directly with a human agent.

one click video e1661871721540

One-click video. Image Credits: Mavenoid

The agent asks the customer to point their smartphone camera at the product and the agent can zoom in and draw on the screen and explain which component needs fixing and share links to guides on how to fix the problem.

live support drone e1661871742485

Image Credits: Mavenoid

On the AI-guided self-service side, meanwhile, Mavenoid helps companies compile their technical documentation, FAQs and how-to guides into a format that can be easily accessed and queried through a chatbot-style interface.

fts e1661872264558

Mavenoid Chatbot. Image Credits: Mavenoid

To do this, Mavenoid combines Open AI’s GPT-3 language model and proprietary algorithms to create what it calls “high-quality support models.”

This means Mavenoid takes care of all content-scraping (documentation, manuals, FAQs, etc.) and optimizes the knowledge base structure specifically for automated hardware support. It is designed for more complex queries that traditional bot-builders struggle with and follows a non-linear model that considers the specifics of the problem while using natural language understanding (NLU) to determine the real intent behind a user support request.

In short, Mavenoid promises to actually understand the query rather than just finding and matching keywords. This increases the chances of finding a solution to the problem rather than simply diverting questions and complaints from customer support teams.

“Deflection often means customers aren’t getting the help they need and come back angrier than before — ultimately costing companies more in the long run because they still have to respond to the query, but also hurts customer satisfaction and loyalty,” Lilja Said.

It’s also worth noting that at the end of a human-led live support session, agents can suggest feedback that can be incorporated into Mavenoid’s machine learning models to improve the self-service product in the future.

“Over time, Mavenoid’s AI will learn from executed suggestions, as it does from all conversations, to improve the automation capability of the self-service assistant” Lilja added.

In terms of deployment, companies can embed Mavenoid Engine into any website or application by copying and pasting a small piece of code. Then, they can publish links to their product assistants in emails, customer support tickets, social networks and QR codes – for example, a company can place a QR code sticker on a product that directs the customer to a self-service setup. the guide

Mavenoid can also integrate with customer relationship management (CRM) software, ticketing systems, ecommerce stores, knowledge bases and more.

Everything changes

Mavenoid has changed a lot since its $8 million Series A round two years ago, with a new interface and several new features like AI retrieval, which lets companies turn their product documentation into snippets of relevant answers. Via Mavenoid Self-Service Product Assistant — This is similar to how Google answers specific queries directly in search results.

AIRetrieval e1661874062280

AI retrieval. Image Credits: Mavenoid

On top of that, Mavenoid has expanded into more than 50 languages ​​and introduced third-party integrations including Salesforce, Zendesk, Shopify, Zapier and more.

Mavenoid previously raised about $10 million, and with another $30 million in the bank, the company said it plans to double down on its AI and product development, as well as scale its technology globally.

Mavenoid’s Series B round was led by Smedvig Capital with participation from Crandom, Mosaic, Point Nine Capital, Nordic Ninja and ABB Technology Ventures.

Leave a Comment

Your email address will not be published.