Total amount raised
$380 Millions
Latest funding date
6/1/2023
Location
ASAPP has successfully raised significant funding over multiple rounds, attracting a diverse group of investors. The company's focus on generative AI solutions for contact centers has garnered attention and support from notable investment groups.
Keep reading to explore the intricacies of ASAPP's fundraising journey and the investors backing this innovative platform.
What Is ASAPP?
ASAPP, founded in 2014 by Gustavo Sapoznik and Marcus Westin, is headquartered in New York, New York. The company specializes in generative AI solutions designed to enhance human productivity and automate workflows.
ASAPP's AI Native® products, such as their Customer Experience Performance (CXP) platform, provide real-time suggestions to customer care and sales agents, continuously learning from interactions to improve performance. This focus on AI-driven productivity has positioned ASAPP as a leader in the contact center industry.
With a team of 251-500 employees, ASAPP continues to innovate and expand its offerings, aiming to elevate human performance through advanced AI technologies.
How Much Funding Has ASAPP Raised?
- Seed Round
- Amount Raised: Not publicly disclosed
- Date: August 2015
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To kickstart the development of ASAPP's AI solutions and establish a foundation for future growth.
- Venture Round
- Amount Raised: $75M
- Date: December 2015
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand the team and accelerate the development of AI-driven customer experience solutions.
- Series B
- Amount Raised: $185M
- Date: May 2020
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale operations and enhance the AI capabilities of their Customer Experience Performance (CXP) platform.
- Series C
- Amount Raised: $120M
- Date: May 2021
- Lead Investors: Dragoneer Investment Group, Fidelity
- Valuation at Round: $1.6 billion
- Motivation Behind the Round: To fuel growth in applying AI to address untapped human productivity opportunities in contact centers.
- Secondary Market
- Amount Raised: Not publicly disclosed
- Date: June 2023
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To provide liquidity to early investors and employees.
Total Amount Raised: $380M
Current Valuation: $1.6 billion
Key Investors
- Dragoneer Investment Group
- Details: Dragoneer is an investment firm that focuses on long-term investments in growth-oriented businesses. They have a reputation for backing high-growth companies across various sectors.
- Investment Focus Areas: Technology, consumer, financial services
- Notable Investments: Airbnb, DoorDash, Snowflake
- Fidelity Management & Research Company LLC
- Details: Fidelity is a large asset management company known for its broad investment portfolio. They manage a wide range of mutual funds and provide investment advice.
- Investment Focus Areas: Technology, healthcare, financial services
- Notable Investments: Uber, Airbnb, SpaceX
- John Doerr
- Details: John Doerr is a prominent venture capitalist associated with Kleiner Perkins. He is known for his early investments in some of the most successful tech companies.
- Investment Focus Areas: Technology, clean energy
- Notable Investments: Google, Amazon, Twitter
- March Capital
- Details: March Capital is a venture capital firm that invests in technology companies. They focus on companies that are driving innovation in their respective fields.
- Investment Focus Areas: Technology, AI, enterprise software
- Notable Investments: CrowdStrike, Forter, ASAPP
- Emergence Capital
- Details: Emergence Capital is a venture capital firm specializing in early and growth-stage enterprise software companies. They have a strong track record of successful investments.
- Investment Focus Areas: Enterprise software
- Notable Investments: Salesforce, Zoom, Veeva Systems
What's Next for ASAPP?
ASAPP stands at the cusp of a significant opportunity, driven by the rising demand for AI-driven customer experience solutions. The company's focus on enhancing digital engagement, real-time voice transcription, and live agent coaching positions it well to tap into the trillion-dollar CX market. With substantial financial backing and a valuation of $1.6 billion, ASAPP is poised to scale its operations and expand its AI Native® Customer Experience Performance (CXP) platform.
Future fundraising opportunities seem promising, given the successful Series C round and the involvement of high-profile investors like Fidelity Management and Dragoneer. This financial momentum could pave the way for additional funding rounds, enabling ASAPP to further innovate and expand its market reach. However, the company may face challenges such as intense competition, the need for continuous innovation, and the integration of new technologies into existing systems.
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