Ada Raises $44M in Series B Funding


Ada, a Toronto, Canada-based Automated Customer Experience (ACX) platform provider, raised $44m in Series B funding.

The round was led by Accel, with participation from existing investors Bessemer Venture Partners, FirstMark, Version One, Leaders Fund and Burst Capital.

The company intends to use the funds to scale the platform and provide enhanced functionality across traditional business silos.

Co-founded by Mike Murchison and David Hariri, Ada provides a chatbot platform built to support an automation-first customer service strategy. Its applied AI uses machine learning to increase accuracy over time and strengthen the performance of all Ada customers’ chatbots. The system can train the chatbot to understand and address topics specific to each business while getting up and running in weeks, not months. A proprietary Natural Language Understanding engine enables the chatbot to comprehend meaning and context without perfectly constructed sentences, allowing it to navigate around jargon, typos, spelling errors and more than 100 different languages.

The company currently serves customers in industries from fintech and retail to telecom and software, and business leaders such as AirAsia, Mailchimp, Shopify, Telus, Upwork and Zoom, among others.



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