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Slash wondery.
That's audible.com slash wondery.
The startup Wonderful has just raised 100 million in a Series A to put AI agents on the front lines of customer service.
This is a really interesting startup.
I mean, obviously, I think the big headline in the news is that it's raised $100 million.
But I think the reason why it's been able to do that and the area it's targeting is probably an even more interesting story.
So today on the podcast we're going to get into essentially what they plan on doing with the money, what they've done so far and where the industry is at in this kind of AI agents, but specifically in sales area.
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All right, let's talk a little bit more about Wonderful.
So this is a startup based out of Israel and they've raised 100 million in the most recent Series A.
This is actually led by some top tier investors, right.
They have Index Ventures, they have Insight Partners, IVP.
Bessemer and Vine Ventures.
So a lot of the tier one VC firms.
This is not like the first company that is tackling this.
Some people would say I think TechCrunch was saying this is a crowded market because Sixth Sense founder Amanda Cashlow just raised 30 million for her kind of AI sales startup which is called OneMind.
So there's obviously a lot of people trying to tackle the sales place.
Wonderful has gotten a lot of these top tier investors to invest in them.
So they're basically showing They're not just a rapper on Chachi Petit.
They've built an actual company that has a specific interesting use case and angle, which I think is really, really fascinating.
The one thing that I think that they're doing better than anyone else right now is doing this kind of a localized, this kind of localized sale, which I think is interesting.
And maybe some people would call it marketing, but I think that they've done some really interesting things that I haven't seen other places.
But before we get to that, I want to mention like, this isn't, you know, just out of the blue.
It's not like they just magically raised 100 million Series A.
They've already raised 34 million before that.
And this is just four months after they came out of stealth.
They had a seed round when they came out of stealth.
And then very quickly, four months later, they were able to go raise another $100 million more.
They're really focusing on helping companies deploy AI agents.
They're doing voice, they're doing chat and they're doing email to customers.
This is kind of like customer service.
Something that they're doing that's interesting is they're targeting different markets and languages where a lot will kind of come out launch just doing English.
They say that their platform is tailored to every market that it serves and that they have fine-tuned their AI models for different languages and cultural norms, which is really interesting.
They've also added different regulatory environments depending on what country you're in, and they even organize local teams to manage the deployment of these specific models.
Like how much of that is just kind of like their sales pitch basically, versus what they're actually doing?
I mean, I'm sure there's a little bit of a mix there, but I do think it is an interesting angle when you're coming.
When it comes to sales and customer service, you really want your AI model to actually understand the people that are talking to it.
And I think that makes a really big difference.
So this approach is basically why they've seen really strong growth.
They were a really young startup.
Their AI agents are already managing tens of thousands of customer requests daily.
They have about an 80% resolve rate, right?
So if someone has an issue, they go to your customer support bot.
And I've actually seen another company doing this quite well recently.
It was, oh shucks, I'm trying to remember that.
I'll remember the name of it in a second, but it's kind of a content editing platform.
And I went to go and I wanted a refund on my month subscription because it renewed and I hadn't canceled it whatever.
And there was no person to talk to.
It was just an AI agent, which I know a lot of people hate, but actually personally, if there's an AI agent that can do a good job, I'm thrilled.
If you can offer me a refund, I'm thrilled without having to actually go and talk to a real person.
So I thought it was really impressive.
It was really slick.
And I totally understand why, you know, you could get an 80% resolve rate.
You don't really need humans to do everything, especially when there's, you know, like billing issues.
Every bill has like a billing ID.
So an automated system totally can handle that.
Since they have launched, Wonderful has expanded.
So far they've done Italy Switzerland Netherlands Greece Poland, Romania and the Baltics, the Adriatic and the UAE.
So there's like a handful of countries and they're specifically fine tuning their sales models and their customer service models for these specific geographies and local customs and all this kind of stuff in these areas.
Now that they've raised another 100 million dollars, they said they're going to plan on launching in germany austria, the nordics and portugal next year, or sorry, this year, and then next year they're going to be expanding to the asia, pacific regions, um kind of the beginning of next year.
So They don't actually plan on stopping with just customer support agents, although that's what they're kind of famous for.
And like if you go to their website, this is a lot of what they talk about today being able to do and cover.
The next things that they're going to be focusing on are a bunch of areas like employee training, sales enablement, regulatory compliance, internal IT support and onboarding.
Specifically, their CEO was kind of talking and said in an interview he said, quote the promise of AI agents is clear but putting that into practice and critically into production is a huge challenge.
This is Barr Winkler.
He's a co-founder and CEO.
He said it requires marrying best in class technology together with flawless delivery on the ground with customers.
That's been our approach with Wonderful and that is what has driven the accelerated adoption we've seen across markets in the last few months.
So yes, this is getting really popular.
I think this is a really like, it's a great use case.
A lot of people are using it.
We've seen.
Big companies like Klarna were quite famous, like last year, for saying that they'd replaced a lot of their customer support team with AI.
And it seems like for a lot of cases it completely can do.
And I know people complain like oh, the AI is replacing everyone.
But at the end of the day, I've had to wait for customer support people to be like hey, we're waiting for an agent to be available to you.
If it's an easy task, a refund or helping me with some problem that everyone has just like, let an AI do it.
Please spare me some time.
So I am not at all, um, you know, concerned about AI replacing people in this regard.
I think it's a great use case in a lot of, in a lot of instances.
All of this definitely also helps companies cut costs by replacing human staff.
I think they also have less risk than having an AI make internal decisions autonomously.
So that's kind of like this hybrid approach that they're doing.
They're integrating a lot of this into like call center infrastructure and other places.
And some people are worried, like a lot of enterprises aren't worried, to completely adopt this 100, having these customer support bots.
So sometimes they'll have it work and pass things off to a human and kind of work in this hybrid manner.
Index Ventures, one of their partners, Hannah Seale, was kind of talking about the company.
They invested in it.
They said their ability to move from concept to global scale in less than a year was basically why they were so confident in this company.
I mean, this is moving fast, you know in stealth, and then four months later they were able to raise 100 million.
So this is a company that's growing very quickly.
Really, the true edge she says that the company has is that its ability to deploy agents for global enterprises.
This is not something that's easy and not something that everyone can do.
These are obviously very big companies that are using their systems.
The co-founder and managing director of Insight Partners is Jeff Horin, and he said that the adoption that Wonderful has seen across a bunch of different industries shows quote Culturally fluent AI agents can be.
So I think they really put a big emphasis on this whole like culturally fluent the way they really focus on specific industries and verticals and how they're able to help in like a specific country, and So it's gonna be really interesting to see if we see other players make that approach.
And I don't even know if we're gonna see necessarily other sales agents be like we're like a country specific sales company.
But I do think we'll see a lot of other AI companies come out and say like, you know, we're like a voice model or we're like, you know, We help you with marketing, but we're specifically country specific because in Poland, different things resonate than, you know, things that would might resonate in Nigeria or whatever.
Every country is quite different in a lot of cultural things.
So I do think that there's a really good argument to be made.
And I think this is an interesting angle that they've taken here.
Big kudos to everyone on the wonderful team.
Very interesting company.
I'll keep you up to date on everything that they roll out in the future.
Thanks so much for tuning into the podcast.
I hope you all have a fantastic rest of your day.
And make sure to go check out AIboxai and leave the podcast a rating and review wherever you get your podcasts.
I will see you all in the next episode.
