Frame AI, the leading AI-driven platform for operationalizing Voice-of-Customer, announced that it has raised $6.3 million in a Series A funding round co-led by G20 Ventures and Greycroft, bringing total VC funding including their seed, led by FirstMark, to over $10 million. The funding will be used to strengthen enterprise-focused capabilities of the company’s AI-driven Voice-of-Customer platform. Bill Wiberg, Co-founder and Partner of G20 Ventures, will join Frame AI’s board of directors.
The round arrives as Frame AI’s product suite, which analyzes customer communication from millions of customers per month, is experiencing 10X revenue growth year-over-year. Frame AI’s platform operates as an early warning system for Customer Experience (CX) leaders, using proprietary machine learning to prioritize attention around emerging themes at the conversation, account, or segment level. By continuously consolidating data from existing channels such as CRMs, call centers, and helpdesks, Frame is able to surface issues long before they would appear in any other kind of Voice-of-Customer reports, enabling a proactive CX practice that retains and expands key accounts.
The added funding will be used to expand Frame AI’s capabilities for the enterprise, including deeper data integrations with and automation of existing operational tools. The company is focused on making Voice-of-Customer part of daily customer operations, in contrast to the lengthy survey and analysis cycles associated with existing Voice-of-Customer platforms. Capturing and operationalizing Voice-of-Customer can be especially difficult for B2B enterprises, with more complexity, more stakeholders, and more silos between businesses and their customers.
“Companies are investing in customer experience as they increasingly compete to retain and grow their customer relationships,” said Bill Wiberg, Co-Founder and Partner at G20 Ventures. “Frame’s AI-driven platform allows companies to listen to their customers at scale across the many channels available for customer communications. Spotting patterns in the dots and acting on them quickly can make the difference between winning and losing, and that’s exactly what Frame helps customers do.”
“Customer support and success leaders are expected to simultaneously improve customer experience, lower costs and bring more insight, faster, to the rest of their organization. Frame AI’s mission is to make this actually possible by breaking down silos and surfacing alerts and themes that are actually actionable,” said CEO George Davis. “Frame acts like the data analysis team that most CX leaders need but don’t have.”
“Support and success teams are overwhelmed by too many requests on too many channels, especially at large companies. Frame arms them with the ability to prioritize actions that retain, improve and expand customer relationships,” said John Elton, partner at Greycroft. “The team is a group of top machine learning experts with a strong grasp of the challenges of AI adoption and a clear mission to transform customer experience. I’m honored to support them.”
Frame AI works with B2B SaaS enterprises that depend on customer retention, to bring clarity, depth, and automation to their Voice-of-Customer efforts. Kim Ogletree, SVP of Client Services at Fastly and client of Frame AI, said, “Frame’s ability to integrate customer voice over our helpdesk, CRM, team chat, and survey data has helped us surface new insights and maintain a unified view of individual accounts, operations and segments. We’ve invested heavily in instrumenting those operations, but Frame makes it much easier to find the ‘why’ that is driving certain behaviors and metrics.”