Gradient Labs, a London-based startup, raised €11.08M in Series A funding to develop an AI agent designed to address 80% of customer queries. Redpoint Ventures led the funding round, recognizing the team's expertise from Monzo in creating a product for a complex market. The capital will expand Gradient's technology and teams across various functions. With a high initial customer satisfaction rate of 98%, the company aims to automate complex processes and enhance service quality, while the significant costs associated with customer service interactions highlight the urgency for effective solutions.
"The Gradient Labs team has an exceptional founder-market fit, having worked together for years at Monzo, giving them the deep expertise needed to build the best-in-class product for a complex, highly regulated market."
"Customers already report user satisfaction scores of up to 98 percent, this will enable the company to automate more complex processes while maintaining high service quality."
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