SA startup Cue raises $2m to accelerate customer service with AI
TLDR
- South African startup Cue secures $2 million in seed funding for enhancing AI technology integration
- Cue specializes in AI-powered customer service chat software for over 300 clients
- Recent expansion to the UK highlights Cue's mission in revolutionizing customer service with innovative large language models
Cue, a South African startup renowned for its rapid growth in providing AI-powered customer service chat software, has concluded a seed funding round, raising $2 million. The funding will be utilized to deepen the integration of AI technology into its platform, fostering its expansion and development.
Established in 2018, Cue empowers businesses to offer swift and effective customer assistance through chatbots and live chat across various platforms such as WhatsApp and social media channels. With a track record of serving more than 300 clients over the past five years, the company recently extended its operations to the United Kingdom (UK).
Having previously secured $500,000 last October to advance its mission of revolutionizing customer service through innovative large language models (LLM), Cue has now garnered additional funding from angel investors. This fresh capital injection will further propel the advancement of advanced AI capabilities within its suite of customer service solutions.
Key Takeaways
PwC projects that AI has the potential to contribute up to $15.7 trillion to the global economy by 2030, surpassing the combined current output of China and India. Analysts believe that AI has the capacity to expand Africa's economy by an impressive $1.5 trillion by 2030, which equates to approximately 50% of its current GDP. This tremendous growth potential could be realized if Africa captures just 10% of the rapidly expanding global AI market. AI has the power to drive economic transformation and innovation, making it a key focus for both global and African economies in the coming decade. More so, African business leaders are optimistic about its potential to transform the continent and are actively investing in the technology to gain a slice of the global market. Cue has demonstrated remarkable growth, with a 566% increase in its team from 2018 to 2023 and serving over 300 clients. This recent funding round is a testament to its rapid expansion, driven by its capacity to seamlessly integrate chatbots and live chat into clients' business applications.
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