Aquant, a service intelligence startup based in New York, has raised $70 million in Series C funding to expand its predictive AI-powered platform.
The funding round brings the total funding raised by the startup to $110 million and was co-led by Qumra Capital, Insight Partners, and Pitango Growth. New investors Schneider Electric Ventures and Claltech joined previous investors like Lightspeed Venture Partners and Angular Ventures in the list of participants. Sivan Shamri Dahan, managing partner at Qumra Capital, said about the firm’s participation in the round:
“Aquant is revolutionizing service intelligence and is well-positioned to lead this large market given their domain expertise and data savviness. Their technology enables companies to focus on what they’re good at, alleviating one of the most serious business challenges today. We’re very excited to partner with them as they continue their rapid growth in order to significantly improve service experiences.”
The startup was founded in 2016 to revolutionize how enterprises use data to generate insights and share them across teams to improve performance. Its platform achieves this by using technologies like Artificial Intelligence to gather, organize, and analyze data to improve decision-making. The company is now serving some of the biggest companies in their respective industries, including Siemens Healthineers, The Home Depot, 3D Systems, and Sysmex. Assaf Melochna, president and co-founder of Aquant, said in this regard:
“Customers trust Aquant’s AI-enabled offering, as unlike generic AI solutions, it is tailored to the service vertical’s needs and delivers clear ROI from day one. Aquant’s insights shed light on areas traditionally perceived as blind spots in service operations and experience. I am excited to be part of Aquant’s journey, as it continues to bring value to all stakeholders of the service experience and roll out additional solutions highly anticipated by its customers.”
With service intelligence becoming increasingly relevant for enterprises looking to increase the quality and efficiency of field service, the Aquant has experienced rapid growth over the years as it expands to meet the demand. Now, it is planning to maintain this growth rate by using the funding to expand its engineering, client services, and go-to-market teams as well as expanding its use cases.