My Blog

Three Successful Chatbot Startups with Over $1 Million in Funding

No comments

Trim

Launched in early 2016, Trim has secured more than $2.2 million from investors that includes Ashton Kutcher’s Sound Ventures. The chatbot, which can be linked via SMS or Facebook, securely connects to your bank and analyzes your transactions. A user can then begin a conversation with Trim receive information about your account balance, recent credits or debits, the amount of money spent on Uber last month and finally provide a list of subscriptions with automatic deductions.

Trim can also cancel the automatic subscriptions. The chatbot can cancel most subscriptions without any further action from the user but there are some, like identity theft protection, that will require the user to cancel but the chatbot will tell you how if you ask it to cancel it for you. There is a final set of subscriptions which requires a phone call or certified mail. Trim can cancel these for you but it will cost $6.00.

The founders of the chatbot, Thomas Smyth and Daniel Petkevich, hope to one day replace your mobile banking app. To date, they estimate that they have saved users more than $6 million.

Assist

Founders Robert Stephens, also founder of GeekSquad, and Shane Mac, former director of product at Zaarly, have been working on Assist since May of 2015 and the chatbot went live in January 2016. The duo and their team have raised $5.5 million in funding from several sources.

The chatbot, available on SMS, Messenger, Kik, Twitter, Telegram and Slack, aggregates APIs so that users can employ the services of several different apps or websites right from there messaging app or SMS. Assist can do everything from get deliver food for you, hire a courier, and buy event tickets. There are 10 options to choose from. The chatbot integrates with Uber, Lyft, StubHub, Eat24 and courier service Postmates among several others.

Assist hopes to “create a world class messaging experience” and in doing so, render some of the other apps we download for convenience useless.

ReplyYes

With $2.5 million in funding, ReplyYes is a little different from other chatbots in that it combines technology with a human touch. ReplyYes has two e-commerce ventures: a vinyl record store and a graphic novel store. In its first eight months of existence, the vinyl record store, called The Edit, has sold $1 million worth of records.

The chatbot uses an algorithm to recommend purchases based on previous behavior including purchase history at the online store. Users subscribe to have an album recommendation sent to their phones every day and have the option to text back to indicate that they like or dislike the album. The chatbot uses this information to build an idea of the user’s musical preference. If a user indicates that they like an album, accomplished simply with a “yes” reply, they are sent a link for purchase.

The human element comes in when a subscriber asks a specific question at which point a customer service rep will step in to engage with the user. The CEO, David Cotter, former Amazon.com general manager, says the company would like to create a record store-like experience.

charpioThree Successful Chatbot Startups with Over $1 Million in Funding

Leave a Reply

Your email address will not be published. Required fields are marked *