Facebook’s Kustomer buy could face EU probe after merger recommendation

The European Union may examine Facebook’s $1BN acquisition of customer care platform Kustomer after issues were referred to it under EU merger rules. A spokeswoman for the Commission verified it received a demand to refer the suggested acquisition from Austria under Article 22 of the EU’s Merger Guideline — — a mechanism which permits Member States […] “Facebook is obtaining this company.

Tiger Global is raising a brand-new $3.75 billion endeavor fund, one year after closing its last

Tiger Global is raising a brand-new $3.75 billion endeavor fund, one year after closing its last

According to a recent letter sent to its financiers, Tiger Global Management, the New York-based investing powerhouse, is raising a brand-new $3.75 billion venture fund called Tiger Private Financial investment Partners XIV that it expects to close in March. The fund is Tiger Global’s 13th venture fund, in spite of its title — — the partners may be superstitious […] At the same time, Tiger Global has apparently has a strong case to potential minimal partners. And Tiger Global backed Root insurance coverage, a nearly six-year-old, Columbus, Oh.-based insurance business that went public in November and presently boasts a market cap of $5.3 billion. Some of Tiger Global’s greatest wins to date have include a $200 million bet on the e-commerce giant JD.com that produced a $5 billion for the company. Tiger Global has invested its present fund in approximately 50 business over the last 12 months. …

Kustomer obtains Reply.ai to improve chatbots on its CRM platform

Kustomer obtains Reply.ai to improve chatbots on its CRM platform

Last December, when CRM startup Kustomer was announcing its most current round of financing — — a $ 60 million round led by Coatue —— its co-founder and CEO Brad Birnbaum stated it would use some of the cash to develop more RPA-style automations into its platform to broaden KustomerIQ, its AI-based product that assists react and understand to […] Birnbaum said that the conversation for getting Reply.ai started before the global health pandemic– the two already worked together, as part of Reply.ai’s combinations with a number of CRM platforms. In some cases, representatives are unable to work since of social distancing rules in cases where customer inquiries can not be managed by remote workers. Kustomer has been taking on the larger names in CRM, including Salesforce (where Birnbaum and his cofounder Jeremy Suriel previously worked), Zendesk and Oracle, by supplying a platform that makes it much easier for human agents to deal with inbound “omni-channel” customer requests– another big trend, leveraging the rise of numerous messaging and interactions platforms as prospective paths to both speaking to clients and seeing them grumble for all the world to see. Birnbaum said that one of its crucial interests with Reply.ai was its focus on “deflection”– the term for using non-human tools and services to help solve incoming demands before needing to call in a human agent. “As a long-time partner of Kustomer, we are able to flawlessly incorporate our deflection and chatbots technologies into Kustomer’s platform and assistance brand names more cost-effectively increase effectiveness….