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Kiwi AI startup Ambit raises NZ$1 million for Australian push

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Ambitionthe artificial intelligence conversational platform, has raised NZ$1 million to accelerate its expansion into Australia, where it targets new customers in the retail, utility and financial services sectors.

The capital increase attracted new investors, including Quidnet Ventures, a New Zealand deep tech VC founded by Mark Bregman, PhD, a former CTO of global companies NetApp, Symantec and Veritas Software. Satish Gupta, a former vice president at Lenovo and IBM, and now a partner at Quidnet Ventures, has also invested in his personal capacity.

The company already offers automated customer service at scale for Australian customers, including ASX-listed Laybuy, Glassons with 35 local stores, and ComExposium. The new capital will be used to increase foothold in Australia to expand the local customer base.

Tim Warren, co-founder and CEO of Ambit, said the AI-powered conversation platform is the brain behind human-like conversations delivered by chatbots and digital workers.

“The adoption of AI in Australian e-commerce, utilities and financial services is being driven by consumer demand for 24/7 online support, just as businesses are dealing with staff shortages in contact centers and growing shareholder expectations to control costs” , he said.

Warren said his startup’s leading natural language technology empowers customer service teams to answer any questions — all day, every day.

He founded Ambit in 2016 after seeing how many companies found it difficult to contact customers in a timely manner and build a low-code solution where every conversation with a customer, partner or employee counts.

The vision was to provide real-time customer service at scale to handle unlimited calls and Ambit is now used by some of New Zealand and Australia’s largest organizations across a wide range of industries.

Warren said the AI ​​conversation platform “ensures that customers always have the right conversation at the right time.”

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