Aquant has raised $70 million in a funding round led by Qumra Capital, Insight Partners, and Pitango Growth.
Also participating in the Series C funding round was Lightspeed Venture Partners, Angular Ventures, Schneider Electric Ventures, and Claltech.
Aquant said it will use the capital to expand its product line. Additionally, the firm will add new engineering and client services positions in the US, Europe, and Israel to accelerate its global expansion. The funding will also contribute to the continuous development of Aquant’s artificial intelligence (AI) technologies.
“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,” commented Idit Muallem Yedid, partner at Pitango Growth.
Yedid added, “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.”
Using AI, Aquant's proprietary platform for service intelligence imbibe’s unstructured data, tribal knowledge, and industry insights. The capability enables businesses to make data-driven decisions, identify at-risk customers, analyze asset performance, identify compliance risks, and more.
The platform addresses skilled labor shortages with easy access to account data and service history previously siloed in databases.
“Aquant is revolutionizing service intelligence and is well-positioned to lead this large market given their domain expertise and data savviness,” said Sivan Shamri Dahan, managing partner at Qumra Capital.
“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.”
