Prodsight, an Edinburgh, Scotland, UK-based startup enabling businesses to gain insight from customer support conversation data, secured £115k in seed funding.
The Royal Society of Edinburgh invested £45k in the company and a pre-seed round raised a further £70k. Investors in this first round include a number of Scottish angel investors such as Alistair Forbes, Rob Dobson, Judy Wilson and Andrew Barrie. Over half of the SeedHaus tech incubator partners have invested in the company including Robin Knox and Paul Walton formerly of Intelligent Point of Sale.
The company intends to use the funds to hire new staff, refine the product and grow the customer base.
Founded by Lithuanian-born Tadas Labudis, Prodsight takes conversational data from live chat facilities such as Intercom and then uses its software and AI to turn information into summarized insights about customer needs. This allows data-driven decisions to be made quickly and efficiently, allowing product teams to identify problems, education issues and prioritize fixes and improvements.
The company also has plans to use the funding to work with two Natural Language Processing experts from the University of Glasgow to improve and refine the products’ conversation analysis processes.