i2x raised €10 million in Series A funding
Berlin – 26th February 2019. i2x, the market leader in automated real-time communications analysis and training, receives €10 million as fresh capital in a Series A funding. UVC Partners and btov Partners act as lead investors, alongside MS&AD Ventures and Asgard. With strong participation from existing investors such as HV Holtzbrinck Ventures, i2x will use the new financing for the further development of its artificial intelligence based technology.
With the venture capital companies UVC Partners and btov Partners, which are well networked in the deep-tech and research sectors, the Berlin startup gains two strategically valuable main investors. Through MS&AD Ventures, which normally invests in the US market, and the Artificial Intelligence Fund Asgard, i2x also gains additional expertise. With the newly acquired capital, i2x will further expand its real-time speech recognition and training technology.
The Berlin-based startup decodes the black box of sales and service phone calls and helps call center agents and sales representatives to improve their conversion rate, increase customer satisfaction and shorten the training period. After only one year on the market, i2x has experienced extraordinary growth and counts companies such as the renowned telecommunications company Vodafone, the technology enterprise Siemens and the e-health startup MediDate among its customers.
Dr. Ingo Potthof, Managing Partner at UVC Partners: “Through close contacts in the research and tech industry sectors, we are pleased to be able to provide i2x with the best possible strategic support for its further development.“
Dr. Jochen Gutbrod, Managing Partner at btov Partners: “With i2x, we are supporting a future-oriented company that is revolutionizing the tele-sales and customer service industry with its real-time technology. The software makes it possible to combine the strengths of people with the advantages of modern technology and thus makes an important contribution to shaping the working world of tomorrow. btov Partners is pleased to accompany i2x on its way.”
Jon Soberg, Managing Partner at MS&AD Ventures: “We invest in companies around the world, especially in the US and Israel, so we have insights into many different markets. What convinced us about i2x was the high technological standard of the software. Michael Brehm and his team have developed an independent speech recognition and training tool that is unique on the international market in its precision, speed and flexibility. We see a big global opportunity for i2x. The great success achieved shortly after the launch confirms the extraordinary potential of this startup”.
Michael Brehm, founder and managing director of i2x: “We are pleased that we were able to convince the investors of our vision to sustainably support people in their increasingly complex working day with the help of artificial intelligence. Thanks to the new funding, we are now investing even more in highly qualified specialists and well-founded research and are thus driving our technology forward.“
i2x is the market leader for automated real-time communication analysis and training based on its proprietary speech recognition technology for the German and English language. Users can analyze complex conversations in real-time with the use of artificial intelligence. i2x automatically generates training units for the user that are tailored to the individual development fields in order to optimize sales and service conversations. This makes i2x the first speech recognition and training technology of its kind worldwide. Employees and self-employed can transcribe telephone calls with the speech recognition technology and have voices, moods and speech patterns of the conversations evaluated with the help of machine learning. i2x helps sales and service employees to improve their conversion rate, increase customer satisfaction and shorten the training period. The company has received several awards, including the CCW Future Camp Award and the CCV Quality Award for “Best IT Innovation” presented by the German Call Center Association. The Bits & Pretzels Founders Festival also honored i2x with the “Best Solution in Service & Intelligence” award. Red Herring named i2x one of the top 100 tech startups in Europe. i2x is based in Berlin and currently employs 40 people. Founder and managing director is technology entrepreneur Michael Brehm. Further information can be found at www.i2x.ai
About UVC Partners:
Unternehmertum Venture Capital Partners (UVC Partners) is a Munich-based early-stage venture capital firm that invests in technology-based startups in the areas of industrial technologies, enterprise software and mobility. The fund typically invests between € 0.5 – 3m initially and up to € 12m in total per company.
Portfolio companies benefit from the extensive investment and exit experience of the management team as well as from the close cooperation with UnternehmerTUM, Europe’s leading innovation and business creation center. With over 180 employees and more than 100 industry partners, UnternehmerTUM can draw from many years of experience in establishing young companies. This cooperation enables UVC Partners to offer startups unique access to talent, industry customers, and other financial partners. The portfolio includes investments such as FlixBus, Carjump (Free2Move), KONUX, Blickfeld, 3YOURMIND and Vimcar. www.uvcpartners.com
About MS&AD Partners:
MS&AD Ventures is an early stage venture fund focused on international big data companies that are involved in insurance or are building a sustainable future. MS&AD Ventures is part of the leading global insurance company MS&AD Insurance Group Holdings. Further information is available at: www.msad.vc
About btov Partners:
btov Partners, founded in 2000, is a European venture capital firm with offices in Berlin, Luxembourg, Munich and St. Gallen. The investment focus is on digital and industrial technology companies. btov manages institutional funds, partner funds and offers private investors and family offices access to direct investments. Through its three divisions, the company manages assets of 420 million euros and examines over 3,000 investment opportunities annually. Its best-known investments include Blacklane, DeepL, Facebook, Foodspring, OrCam, Raisin, SumUp, Volocopter and XING. More information can be found at www.btov.vc
Asgard is a family-run human venture capital company focused on early stage startups in the field of artificial intelligence. Asgard was founded in 2014 by serial entrepreneur and investor Fabian J. G. Westerheide. Further information is available at: www.asgard.vc
Über HV Holtzbrinck Ventures:
Since 2000, HV Holtzbrinck Ventures has invested in Internet and technology companies through various generations of funds and is one of the most successful and financially strong early-stage and growth investors in Europe. HV supports startups with capital ranging from €500,000 to €40 million, making it one of the few venture capitalists in Europe able to finance startups across all growth phases. Further information is available at: www.hvventures.com