TechSee an Israeli AI-powered visual customer engagement company, raised $30 million in a Series C equity investment round co-led by OurCrowd, Salesforce Ventures, and TELUS Ventures with participation from Scale Venture Partners and Planven Entrepreneur Ventures, the firm announced on Monday.
Founded in 2015, TechSee developed a visual engagement solution powered by artificial intelligence (AI) and augmented reality (AR) that aims to revolutionize the customer experience, enabling them to receive visual guidance through their smartphones from a virtual technical assistant. The company also developed computer vision tech that can provide visual guidance to users installing, operating, or troubleshooting networking devices, smart home products, and home appliances.
TechSee said the COVID-19 pandemic has increased demand for its services as people and businesses have sought remote solutions.
“There has been a significant increase in demand for contactless customer service technologies propelled by COVID-19 social distancing requirements and the acceleration of digital transformation projects,” said TechSee CEO Eitan Cohen, CEO of TechSee. “Our Visual Automation technology is at the heart of it, and now that momentum is growing exponentially as businesses seek to reduce costs and optimize customer experience strategies in the current environment. Our vision is to get rid of the user manual and replace it with dynamic AR assistants.”
TechSee’s technology is being used by wireless service providers, consumer electronics companies, insurance companies, and utility companies. The company has commercial partnerships with Verizon, Vodafone, Orange, Liberty Global, Accenture, Hitachi, and Lavazza, among others.
“Remote Visual Assistance is becoming an imperative technology for any customer-centric enterprise operating at scale,” said Alex Kayyal, Partner and Head of International, Salesforce Ventures. “The potential upside for the business and the customer is difficult to ignore. This industry has fundamentally shifted, and we’re excited by the innovation TechSee is bringing to the market in the area of customer assistance.”
TechSee said it will use the capital injection to enter new markets and expand its product offerings and capabilities.
Earlier this year, TechSee was named among Fast Company’s list of “most innovative” firms in 2020. Fourteen Israeli companies made the list.