With Millions Saved in Support Costs, Decagon is Handling Customer Experiences for the Leading Enterprises

October 15, 2024 12:00 PM Eastern Daylight Time

SAN FRANCISCO–(BUSINESS WIRE)–Decagon, the leading innovator in AI customer support agents, today announced it has raised a total of $100 million, including its latest Series B funding round, quadrupling its valuation in just a few months. The $65 million round was led by Bain Capital Ventures with participation from Elad Gil, A*, Accel, BOND Capital and ACME Capital. This funding will accelerate Decagon’s mission to transform enterprise customer support and unlock new levels of economic productivity.

“Decagon’s powerful AI agents draw on proprietary data to answer routine questions accurately, and as they evolve, they will become each customer’s personal concierge”Post this

There’s been so much hype around AI agents, but where are the real use cases? Decagon sets itself apart with an AI agent that drives tangible productivity gains for its customers from the start. Industry leaders like Duolingo, Notion, Rippling, Eventbrite and Bilt use Decagon’s AI agents to manage customer interactions from start to end, including fetching data, taking actions and reviewing conversations. Decagon’s customers have seen significant efficiency improvements, enabling them to serve customers better with fewer human resources, while elevating the roles of existing customer support teams.

“Working with Decagon was like hiring 65 agents overnight,” said Thatcher Foster, VP of CS at Bilt. “We get 60,000 tickets per month. Seventy percent of those are being handled by Decagon’s AI agents. Our monthly savings are hundreds of thousands of dollars. Our agent teams became much stronger, and the ones we retain are real product experts.”

What has made Decagon’s offering unique is its ability to capture complex business logic. Large companies have a high level of complexity in their support operation, and they require a solution that innovates around the nuances of their business, learns from feedback and adapts to new conversations. Decagon is transforming enterprise customer experiences with its innovative AI agent that can surface voice-of-customer insights and use them to constantly improve its performance. For certain customers, Decagon is handling millions of conversations per year and achieving 90 percent resolution.

Ultimately, Decagon is driving the future of work, where customer support roles are transformed into high-value positions requiring analytical and technical skills. Decagon’s technology automates repetitive tasks, resolves routine queries and reduces response time pressure, freeing customer service representatives from reacting to every customer question to strategically building their support operation. Customers have reported transitioning their support teams to higher-level roles, where they are now managing and overseeing AI agents rather than answering every Tier 1 ticket.

“AI is often seen as destroying jobs, but at Decagon, we believe the opposite. Our AI agents are enhancing jobs, not replacing them,” said Jesse Zhang, CEO of Decagon. “In a few years, every company will have AI agents running their customer experiences. Customer support staff are no longer fielding routine tasks; they are now becoming AI managers—configuring, training and overseeing the AI agents that handle repetitive work.”

Decagon believes that AI agents shouldn’t be “black boxes” and that every action and decision should be transparent, giving customer support teams full control to update, train and build on the AI agents’ capabilities.

“Decagon’s powerful AI agents draw on proprietary data to answer routine questions accurately, and as they evolve, they will become each customer’s personal concierge,” said Aaref Hilaly, partner at Bain Capital Ventures. “Ashwin and Jesse have that rare blend of expansive vision combined with maniacal execution that we look for in founders.”

The fresh capital will be used to expand Decagon’s engineering team and accelerate its go-to-market strategy, enabling the company to meet the growing demand for AI-powered customer support solutions. With this funding, Decagon will also expand into new verticals and introduce additional modalities like voice, continuing to lead the way in the future of work, where AI not only automates tasks but also helps businesses build more productive and resilient workforces.

About Decagon

Decagon is the leader in AI-powered customer support agents designed to enhance enterprise customer support by automating and resolving inquiries at scale. Decagon’s agents automate repetitive tasks, boost productivity and empower customer support teams to take on more strategic roles. Founded in San Francisco, Decagon is on a mission to shape the future of work by elevating human potential with AI. For more information, visit decagon.ai.

Contacts

Allison Braley
Bain Capital Ventures
Press-BCV@baincapital.com

(c)2024 Business Wire, Inc., All rights reserved.