South African startup Cue has secured a whopping R38.3 million ($2 million) in seed funding from angel investors. This funding aims to boost Cue’s customer service platform with better AI integration and support its expansion plans.
Cue previously received $500,000 in pre-seed funding back in October 2023. Alongside this financial boost, Cue has shuffled its leadership team, appointing Rhett Trickett as Chief Product Officer, Ryan Egnos as Chief Revenue Officer, and Richard Nischk as CEO.
Established in 2018, Cue specialises in AI-driven customer service solutions, catering to businesses through platforms like WhatsApp and social media.
With a client base of over 300 businesses and a recent expansion to the United Kingdom, Cue focuses on delivering speedy, tailored customer service experiences and cutting down on communication delays.
The startup has already showcased its prowess, delivering impressive results for clients like Mancosa, AutoZone, and Richfield, boasting significant increases in sales conversion rates and response rates.
Notably, Cue aided King Price Insurance in achieving a remarkable 77% return on investment by automating insurance quotes on WhatsApp and helped Affinity Health slash customer service costs by 73%.
With this fresh injection of funds, Cue plans to deepen its AI integration, providing businesses with automated solutions for routine customer inquiries. By leveraging insights and data analytics, companies can refine their customer engagement strategies and enhance support services.
Richard Nischk, the CEO, emphasised the importance of this investment in advancing AI-powered solutions for customer service. He highlighted the potential for businesses to streamline their support operations and deliver faster, more valuable assistance to customers.
The growth of AI technology in Africa is on the rise, with the market projected to reach $6.9 billion by 2024 and $18.3 billion by 2030.
This trend is evident in initiatives like Ghanaian company Jetstream Africa’s launch of Jetvision.ai, an AI-enabled platform for cross-border trade, and Kenya’s move to regulate AI and robotics through the Kenya Robotics and Artificial Intelligence Society.
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