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Espressive lands $30M Series B to build better help chatbots

By Ron Miller

Espressive, a four-year-old startup from former ServiceNow employees, is working to build a better chatbot to reduce calls to company help desks. Today, the company announced a $30 million Series B investment.

Insight Partners led the round with help from Series A lead investor General Catalyst along with Wing Venture Capital. Under the terms of today’s agreement, Insight founder and managing director Jeff Horing will be joining the Espressive Board. Today’s investment brings the total raised to $53 million, according to the company.

Company founder and CEO Pat Calhoun says that when he was at ServiceNow he observed that, in many companies, employees often got frustrated looking for answers to basic questions. That resulted in a call to a Help Desk requiring human intervention to answer the question.

He believed that there was a way to automate this with AI-driven chatbots, and he founded Espressive to develop a solution. “Our job is to help employees get immediate answers to their questions or solutions or resolutions to their issues, so that they can get back to work,” he said.

They do that by providing a very narrowly focused natural language processing (NLP) engine to understand the question and find answers quickly, while using machine learning to improve on those answers over time.

“We’re not trying to solve every problem that NLP can address. We’re going after a very specific set of use cases which is really around employee language, and as a result, we’ve really tuned our engine to have the highest accuracy possible in the industry,” Calhoun told TechCrunch.

He says what they’ve done to increase accuracy is combine the NLP with image recognition technology. “What we’ve done is we’ve built our NLP engine on top of some image recognition architecture that’s really designed for a high degree of accuracy and essentially breaks down the phrase to understand the true meaning behind the phrase,” he said.

The solution is designed to provide a single immediate answer. If, for some reason, it can’t understand a request, it will open a help ticket automatically and route it to a human to resolve, but they try to keep that to a minimum. He says that when they deploy their solution, they tune it to the individual customers’ buzzwords and terminology.

So far they have been able to reduce help desk calls by 40% to 60% across customers with around 85% employee participation, which shows that they are using the tool and it’s providing the answers they need. In fact, the product understands 750 million employee phrases out of the box.

The company was founded in 2016. It currently has 65 employees and 35 customers, but with the new funding, both of those numbers should increase.

Compound’s Mike Dempsey on virtual influencers and AI characters

By Eric Peckham

In films, TV shows and books — and even in video games where characters are designed to respond to user behavior — we don’t perceive characters as beings with whom we can establish two-way relationships. But that’s poised to change, at least in some use cases.

Interactive characters — fictional, virtual personas capable of personalized interactions — are defining new territory in entertainment. In my guide to the concept of “virtual beings,” I outlined two categories of these characters:

  • virtual influencers: fictional characters with real-world social media accounts who build and engage with a mass following of fans.
  • virtual companions: AIs oriented toward one-to-one relationships, much like the tech depicted in the films “Her” and “Ex Machina.” They are personalized enough to engage us in entertaining discussions and respond to our behavior (in the physical world or within games) like a human would.

Part 1 of 3: the investor perspective

In a series of three interviews, I’m exploring the startup opportunities in both of these spaces in greater depth. First, Michael Dempsey, a partner at VC firm Compound who has blogged extensively about digital characters, avatars and animation, offers his perspective as an investor hunting for startup opportunities within these spaces.

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