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NLX Raises $12 Million to Grow Conversational AI Platform

NLX, AI, chatbot, investments, funding

NLX has raised $12 million in Series A funding to grow and develop its artificial intelligence (AI) platform for managing chat, voice and multimodal conversational applications. 

With its platform, brands can create, manage, deploy and analyze these applications; manage conversational deployments across their enterprise; and access AI models from several providers, NLX said in a Monday (Feb. 26) press release

The company will use the new funding to fuel its market expansion, make strategic hires and add capabilities to its platform, according to the release. 

“AI is transforming the customer service journey for brands and it is essential that every touchpoint in that journey feels personalized to the consumer and exceeds their expectations — while also grounded in practicality,” Andrei Papancea, CEO and chief product officer at NLX, said in the release.

“This milestone speaks to NLX’s success in helping some of the most well-known global brands deliver world-class customer experiences at scale,” Papancea added, speaking of the funding round.

NLX uses generative AI, cloud software, and its voice, chat and multimodal conversational AI technology to deliver these customer experiences for enterprise brands, according to the release.

The largest deployment by NLX covers 90 countries and 65 languages, the release said.

The company’s Series A round was led by Cercano, which pointed to the company’s “innovative approach and potential to revolutionize the customer experience landscape.”

“NLX is redefining the way people interact with brands,” Lauren Glatter, investor at Cercano, said in the release. “Their commitment to providing automated and frictionless multimodal self-service experiences aligns with the evolving needs of enterprises.”

Demand for conversational AI for customer engagement has “exploded since the pandemic,” Papancea told PYMNTS in an interview posted in February 2022.

“Through the needs of having to scale human operations, conversational AI is such a practical use of technology,” he said at the time.

In another recent development in this space, PayPal-based Rasa said Feb. 14 that it raised $30 million in a Series C round to grow its generative conversational AI platform for enterprises.

That platform’s open and extensible conversational AI powers AI assistants that align with its customers’ business logic and provides meaningful and practical user engagement, Rasa said at the time.

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