New Investment of $6M Will Fuel Development of Technology Advancements to Create Superior Guided Customer Support Experience
Today Mavenoid, the AI-powered product support platform for product manufacturers and retailers, announced the launch of Generative Answers and Vision Assist – two new AI solutions for automated customer support. This announcement reflects Mavenoid’s mission to deliver personalized product support experiences with AI, offering brands self-service resolution rates of 58% and up, compared to a 9% industry average.
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Mavenoid’s proprietary AI is trained to understand the complexities of product and device support, with understanding customer intent, parsing documentation, and then producing a tailored support experience. Customers also use Mavenoid for pre-sale and post-sale help, like finding the right product for their needs and registering warranties. This Mavenoid experience increases customer satisfaction to more than 90% for even the most complex questions, while allowing product and devices companies to focus on problems that actually need human intervention, effectively reducing their ticket resolution costs. Generative Answers and Vision Assist extend this support experience with new technological capabilities.
Today’s announcement of Generative Answers allows customers of brands using Mavenoid to immediately start troubleshooting with unprecedented accuracy. After typing their question into a search bar, Mavenoid’s AI instantly scans all of the brand’s product knowledge and shares only the most relevant information. For more complex troubleshooting, brands can use both Generative Answers and the step-by-step guides written by humans to ensure accuracy for the most complicated of issues. In early beta, the Generative Answers product was able to dramatically increase the ability of consumers to resolve their own support issues quickly and without picking up a phone.
A common challenge in product support is identifying the exact product model that requires support. Consumers often mistake their product model and this can lead to incorrect troubleshooting and a frustrating experience. Today, Mavenoid launched Vision Assist to solve this problem by allowing users to pre-fill product information by scanning their product’s label with their phone. In a matter of seconds, users can start addressing whatever product issue they’re experiencing.
Mavenoid recently closed a debt financing round of $6m with HSBC in April 2024. The financing will be used for continued technology investments, including Generative and Vision Artificial Intelligence.
“AI has been at the heart of the Mavenoid platform since day one, and today’s announcement is a big step forward as we deploy the latest in AI technology for advanced product support,” said Gintas Miliauskas, CEO & Co-founder of Mavenoid. “Generative Answers and Vision Assist are now part of our platform to give product and device companies the ability to offer intuitive virtual support that solves customer support frustrations. Product companies that work with Mavenoid see firsthand how AI is transforming customer support and our latest AI enhancements reflect our continued investment in applying the latest technology to product support.”
Generative Answers and Vision Assist are currently in beta with select Mavenoid customers and will be available for all later this summer.
About Mavenoid
Mavenoid is the AI-Powered Support Platform specifically designed for products and devices, and is used by iconic brands within consumer electronics, household appliances, power equipment, smart home technology, and more. Mavenoid’s purpose-built technology delivers best-in-class customer support with intelligent troubleshooting and remote support that delivers resolution rates of 58% and up. With Mavenoid, product manufacturers and sellers provide genius level customer support and realize brilliant ROI. Learn more at Mavenoid.com.
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Contacts
Greer Lynch
glynch@mavenoid.com
