PLANO, Texas--(BUSINESS WIRE)--AmplifAI, the leading People Enablement Platform for employee-focused enterprises, today announced the closing of $18.5 million in Series A funding led by Greycroft along with continued participation by LiveOak Venture Partners, Dallas Venture Partners and Capital Factory. The Series A funding round is allocated into $12.5 million of equity funding and $6 million in venture debt from Comerica Bank.
The new capital will be used to further secure AmplifAI’s position as the most comprehensive and innovative employee enablement platform for hybrid enterprises; driving product improvements and innovation that continue to define the category, transform the way companies develop employees and elevate enterprises that are people-centric.
“We created the category of AI-powered people enablement and continue to prioritize continuous improvement and innovation to maintain our industry leadership,” AmplifAI founder and CEO Sean Minter said. “This investment aligns with our objectives to enable every organization to better use data to maximize employee and organizational performance.”
The AI Platform That Maximizes Employee Performance and Engagement for Hybrid Workforces
The self-learning platform monitors data and learns high-performing employees’ skills and behaviors, ultimately creating personalized development actions to elevate every employee into a high performer.
Over the last 12 months, AmplifAI has grown its paid user base by 10x while winning worldwide RFPs from Fortune 20-sized enterprises. AmplifAI now operates in 16 different countries, serving leading people-centric brands such as The Home Depot.
“AmplifAI has proven its capabilities, starting with a small pilot over two years ago to an enterprise-wide intelligent engagement and performance management platform for all of THD contact centers—both internal and outsourced,” said Dante Brooks, Senior Manager of Customer Experience at The Home Depot. “AmplifAI is very flexible and easy to do business with—a partner that is built to engage, develop and delight our frontline employees.”
“Artificial Intelligence solutions are enabling the transformation of the Intelligent Contact Center,” Aragon Research lead analyst Jim Lundy said. “AmplifAI is showing innovation in AI performance management and workforce engagement with its self-learning, personalized approach to replicating high-performing frontline employees using data that enterprises already generate.”
Investor Perspectives on $18.5M Series A Funding Round
“The contact center remains a huge untapped opportunity for companies globally. Reps are on the front line with customers, and most are missing opportunities to grow customer value because of inadequate training,” said Will Szczerbiak, Partner at Greycroft. “By integrating underlying contact center systems and creating training pathways for all reps to perform like the top 10, AmplifAI delivers tremendous value to clients in the form of higher customer satisfaction, increased revenue, competitive differentiation, and more. We are incredibly impressed with the product vision and execution to date and are looking forward to helping build a category leader in the contact center SaaS space.”
AmplifAI is the AI-Driven People Enablement Platform for employee-centric workforces. AmplifAI transforms employee data into actions modeled after an enterprise’s best-performing people - helping hybrid teams maximize business outcomes, boost productivity and improve engagement. As more companies explore the new generation of hybrid work, innovative leaders and organizations are relying on AmplifAI to enable people, improve performance and make work more fun - wherever work is happening. Visit amplifai.com to learn more.
Greycroft is a seed-to-growth venture capital firm that partners with exceptional entrepreneurs to build transformative companies. The firm has deep experience in both consumer and enterprise technology, with a portfolio that spans the globe. Greycroft values building enduring relationships with founders and understands that they want more from investors than just capital. Greycroft has raised more than $2 billion in commitments and has over 200 active investments. The portfolio includes Acorns, Anine Bing, App Annie, Axios, Bird, BetterCloud, Braintree, Bright Health, Buddy Media, Bumble, Flutterwave, Goop, Happiest Baby, Huffington Post, Icertis, Lightricks, Maker Studios, Medly, Openpath, Scopely, SEMrush, Shipt, TheRealReal, Thrive Market, Trunk Club, Venmo, and Yeahka. For more information visit, www.greycroft.com.