INSUBCONTINENT EXCLUSIVE:
Moveworks, a startup using AI to help resolve help desk tickets in an automated fashion, announced a $75 million Series B investment
today.The round was led by Iconiq Capital, Kleiner Perkins and Sapphire Ventures
Existing investors Lightspeed Venture Partners, Bain Capital Ventures and Comerica Bank also participated
The round also included a personal investment from John W
Thompson, a partner at LightSpeed Venture Partners and chairman at Microsoft
CEO and co-founder Bhavin Shah says his company is solving a common problem using AI
day to their IT teams for stuff they need, and we understand [the content of the tickets], interpret them, and then we take the actions to
forming the company that suggested a common set of questions, and that would make it easier to interpret and resolve these issues
In fact, they are currently able to resolve 25-40% of all tickets autonomously.He says this should lead to greater user satisfaction because
Instead of filing a ticket and waiting for an answer, Moveworks can provide the answer, at least part of the time, without human
intervention.Aditya Agrawal, a partner at Iconiq, says that the company really captured his attention
so it has seen major improvement
