Resolver, the U.K. startup that has created tools to help consumers complain and track the progress of their complaint, has raised £2.8 million in new funding, which it will use to apply artificial intelligence to make it easier for consumers to resolve issues.
According to a report by TechCrunch, Resolver’s latest round of fundraising was led by VC Draper Esprit and Imperial Innovations, the publicly listed investor with ties to Imperial College, University of Cambridge, University of Oxford and University College London.
“We have more than 5 million communications in our system right now and already use them anonymously to help identify key customer issues. We also use them as a revenue stream to show brands and companies where they rank against their competitors for satisfaction,” James Walker, founder of Resolver.co.uk, said in an interview with TechCrunch. “[The] investment means we can leverage AI even more and dive even deeper into these crucially important and hugely informative data sets. AI is becoming more and more powerful at predicting results and outcomes.”
With AI, the report noted Resolver will be able to look at the cases its users have successfully resolved and the ones that resulted in a less-than-favorable outcome. As the technology learns from what worked and what didn’t, the AI tech would be able to pinpoint and suggest terms that lead to the most successful dispute resolution.
“Using AI and machine learning, we should then move to a position where, from just a few details entered by a customer, our platform can predict with much greater certainty what a resolution would be, both in its chances of success and in terms of how much money a user will get back,” Walker said in the report. “It will also massively enhance our automated template emails that are written and generated from the simple bits of key information a user inputs about their case. AI can write these even more logically and successfully, and the system can learn which email addresses we send cases to generate the best responses.”
On international expansion, the Resolver CEO cited Germany and the U.S. as its next targets beyond the U.K, noting that both are countries well-known for not putting up with bad service. “We believe this stands us in good stead for capturing an audience that resonates directly with what Resolver stands for,” he said.