Israel-based customer relations startup Perceptive AI has raised $1.5 million in a seed round led by Tel Aviv-based venture capital firm Meron Capital Advisors Ltd., with participation by Los Angeles-based Scopus Ventures, the company announced on Thursday.
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Founded in 2017 and based in Herzliya, a town in the Tel Aviv metropolitan area, Perceptive AI develops a machine learning-based system that helps companies predict which customers are likely to purchase new products and which are likely to take their business elsewhere. The system, aimed at business-to-business (B2B) software-as-a-service (SaaS) companies, gives customer relations agents an early warning and possible steps to be taken to minimize the risk of clients forgoing the company’s service.
Artificial intelligence will have a profound effect on the way companies deal with customer service and conservation, Liron Azrielant, a general partner at Meron, said in a statement. Preserving and expanding their customer base is one of the major obstacles faced by Software-as-a-service companies today, she added.
Perceptive AI intends to use the funding for research and development as well as expanding its global activity.