In order to accelerate its international expansion and focus more on product innovation, Brainfish, an artificial intelligence (AI) powered customer support platform for online businesses based in Australia, has raised AUD 3.85 million ($2.5 million) in its second funding round.
In a statement released, the company said that Macdoch Ventures, Black Sheep Capital, Justus Hammer, the CEO of MadPaws, and angel investors from Australia and the US participated in the capital raise, which led to Brainfish raising $5 million in total over the course of a year.
Brainfish is a real-time customer support platform that was introduced in April 2023 by former SiteMinder product developers Daniel Kimber, the Chief Executive Officer, and Ajain Vivek Thankaswamy, the Chief Technology Officer.
After seeing firsthand the particular difficulties with customer support models and systems, the two founded Brainfish with the intention of completely changing the sector.
“Customer support hasn’t changed in decades, and whilst tooling is better, people today want quick answers that are accurate and contextualized,
“With the backing of the Peak XV team, we’re able to continue pushing the boundaries of customer support and save businesses countless hours by delivering a superior product that works from the very top of the customer funnel. Bad bot answers just won’t suffice anymore,” said Daniel Kimber, Chief Executive Officer and Co-Founder of Brainfish.
Since entering the market a year ago, the company has grown at a rate of sixty-five percent per month. It currently provides services to over 300,000 users worldwide through software companies and marketplaces, including ASX-listed Mad Paws and Airtasker, which is one of Australia’s fastest-growing technology companies.
With the use of Brainfish’s in-house artificial intelligence (AI) search function, businesses can instantly receive personalized responses that are contextually understood and tailored to their needs.
Businesses can efficiently and effectively handle high volumes of customer inquiries with this technology.
“We started Brainfish with the mission to alleviate the frustrations of the support experience, and provide customers with the technology to solve their own problems – our AI-first platform does just that,
“The market has responded incredibly well to our product in its first year, and we’re firmly focused on growth to continue redefining the customer support landscape,” Kimber added.
