Funding Led by G20 Ventures with New Participation from Velvet Sea, ValueStream, Twilio and LiveRamp
NEW YORK, November 30, 2022--(BUSINESS WIRE)--Frame AI, the leading AI-driven platform for Customer Intelligence, announced today that it has raised $7.6M in funding to accelerate growth. The oversubscribed round was led by existing investors G20 Ventures with participation from FirstMark and Greycroft, and attracted majority participation from new institutional investors Velvet Sea Ventures and ValueStream Ventures, and strategic investors Twilio ($TWLO) and LiveRamp ($RAMP). The new funding will be used to expand sales, and to deepen Frame’s differentiated capabilities in combining natural language and event data to better understand customer journeys.
The round follows an accelerating growth curve approaching 3x YoY, driven by Frame AI’s new product offering, Dynamic Cost Attribution™️, which combines budget information with AI analysis of support communication and lifecycle events to identify drivers of operational costs. The solution gives company leadership a more accurate, "always-on" understanding of true lifetime value.
"In this economic environment, companies are laser focused on operational efficiency, but customer support effort remains a black box of averages," says Max Schultz, Head of Sales for Frame AI. "Dynamic Cost Attribution allows leaders to attach a true dollar figure to the unique drivers of spend in their customer operations, while the rest of the Frame platform automates solutions to those inefficiencies."
Along with the funding, Frame AI announced the appointment of a new Chief Commercial Officer, David Honig, former SVP of Sales at Dynamic Signal (acquired by FirstUp). Earlier this year, the company added Christine Rimer, formerly Head of CX at Momentive, as an independent board member. The additions to senior leadership bring experience on scaling go-to-market teams and addressing the needs of multiple enterprise stakeholders.
"Customer relationships are any company’s most valuable asset, but making sense of them becomes exponentially more difficult as we access wider and wider audiences more frequently," says George Davis, CEO of Frame AI. "Our new funding, partnerships, and team members will help Frame AI in its mission to make data from customer operations help every part of the enterprise run more efficiently."
About Frame AI
Frame AI is a next-generation Customer Intelligence system that uses AI to estimate costs and predict revenue outcomes associated with complex customer interactions. By consolidating and enriching data across helpdesk, call center, CRM, and other channels, the company helps Support, Product, and Revenue leaders reduce costs and improve outcomes from their existing customer operations. Frame is based in New York City and is hiring both locally and remotely across multiple functions to accelerate its growth.
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