Mavenoid, the leading hardware support platform, announced it has secured $30 million in a Series B financing round led by Smedvig Capital. Previous investors, Creandum, Mosaic, and Point Nine Capital, alongside new investors NordicNinja, ABB Technology Ventures, and financing partner SVB UK, also participate.
Mavenoid’s hardware support platform empowers any brand with physical technology products to provide seamless support to customers. With Mavenoid’s AI-powered self-service, remote, and support automation tools, companies can save time and resource through support automation that actually resolves customers’ issues.
Able to stand alone or plug into existing technologies, Mavenoid’s capabilities enable companies to convert or create product knowledge into highly effective support automation. The platform is also backed by live chat and interactive video calling.
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The funds raised will be used to further develop Mavenoid’s AI and technology, as well as scale the business globally. The announcement comes after significant growth in the competitive customer support space with companies such as Jabra, Husqvarna, Medion and more among its customer base.
“There are many support platforms out there, but in reality, you can’t fix a broken dishwasher using the same method as rebooking a flight,” said Shahan Lilja, Co-Founder and CEO, Mavenoid. “These funds will allow us to continue to invest in our cutting edge technology and AI, while also scaling our operations so we can empower more hardware brands with great support experiences.”
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“Mavenoid has built a powerful ML-led product that solves a technically complex problem: troubleshooting and resolving issues with hardware goods, a regular challenge for all consumers,” said Peter Duffy of Smedvig Capital. “We’re excited by the potential of the market Mavenoid’s disrupting, and their vision to own the hardware support category.”
“Since we co-led Mavenoid’s seed round, the company has demonstrated a steady growth rate and ever-increasing efficiency rates,” said Staffan Helgesson, General Partner, Creandum. “Looking at the huge market potential, we couldn’t be more excited to continue our support of the team.”
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