CustomerXPs Software Private Limited, a Bangalore, India-based real-time intelligence software product company, has raised $4m in Series A funding from a fund managed by JAFCO Investment (Asia Pacific) Limited.
CustomerXPs intends to use the funds to expand its global sales, marketing and delivery teams, and conduct R&D initiatives including creating distributed SaaS versions of its offerings.
Founded by Rivi Varghese (CEO), Aditya Lal (CTO) and Balaji Suryanarayana (COO), CustomerXPs makes real-time intelligent software for high-transaction domains with an initial focus on the banking industry (ICICI Bank is a customer). The solution is designed to identify and solve, in real-time, complex problems in the areas of customer engagement, contextual right-sell, fraud, pricing and compliance while a transaction occurs, by using a multi-disciplinary approach spanning artificial intelligence, statistics, mathematics, psychology and behavioural sciences.
The firm has also seen interest across the telecom, retail, internet, insurance, healthcare and airline industries.
In conjunction with the funding, JAFCO Asia’s Murli Ravi, has joined the company’s Board of Directors.
Ernst & Young acted as financial advisor to CustomerXPs on this transaction.