Today, we are announcing a major milestone for Zingtree: closing our Series A round of $15M! This round was led by Conductive Ventures with support from Storm Ventures and Madrona, new angel investors including Hilarie Koplow-McAdams, and previous existing investors. With our 2020 seed round led by Rally Ventures with participation from Parade Ventures and Vitalize Ventures, this brings our total funding to $18.5M. We are also welcoming Conductive’s managing director, Carey Lai, and former 8x8 CEO Vikram Verma to Zingtree’s Board of Directors, as well as Pascale Diaine from Storm Ventures as a Board observer.
We are thrilled to build towards the next chapter of Zingtree with this funding, and to share some of those details with you today.
From Troubleshooting to Agent Scripting
Seven years ago, Zingtree started as an efficient way for customers to troubleshoot their issues without human support. It was so effective in reducing support tickets by 40% that our founders decided to make it their full-time focus and Zingtree was born.
Since then, we have built products powered by Zingtree’s no-code interactive decision tree engine to help global organizations in healthcare, finance, insurance, and retail deliver consistent, high-quality customer support.
Our interactive agent scripts empower contact center agents to make faster and better decisions, and take the next best actions, all while following standard operating procedures. Knowledge managers can easily create, edit, and maintain these scripts without costly and time-consuming IT or engineering development to deliver the right information to guide agents through even highly complex conversations, using a step-by-step approach.
What gets us most excited is the real ROI we’ve been able to deliver to our customers: wait times reduced by 18 minutes, call compliance improvements from 50% to 90%, 2 months of agent training time saved, and $40K in implementation costs saved. We have seen again and again that Zingtree is helping customer-facing teams improve their average handling time, first contact resolution, and customer satisfaction while decreasing agent ramp time and overall support costs.
Brad MacDonald, Business Program Manager of Getty Images, best described the world of possibilities that Zingtree opens up: “The magic of Zingtree is how simple and intuitive the software is for our customer service teams to use. Zingtree empowers the people doing the customer-facing support and service work at Getty to build and deploy their own workflows and solutions with absolutely no dependency on the Technology team. Using Zingtree opens up new automation opportunities we otherwise couldn’t execute.”
Our Next Chapter: Where We Are Investing Next
With our funding, we will rapidly scale our go-to-market, product and engineering teams led by our experienced executives. In the past 5 months, we have hired our Chief Revenue Officer, David Apple, an early executive at hyper-growth startups Typeform and Notion; Chief Financial Officer, Scott Kincaid, the former head of finance of Facebook Financial and CFO of WaterSmart; Chief Product Officer, Brandon Anderson, former Head of Product and Strategy at NBC Sports Next; and Chief of Staff, Keiko Tokuda, an early executive at Front, with marketing roles at Eventbrite and Google. Combined with the leadership of our two-time CEO, Juan Jaysingh, we have a strong team in place that is ready to drive the business forward.
We are also expanding our team in Europe. Zingtree has always been a global company with customers in 50 countries around the world. With the launch of our EU data center last year, and our expanding customer base in the UK and rest of Europe, we are eager to provide our customers with even more local support and meet their growing business needs.
We will continue to invest in partnerships and integrate our product with contact center platforms to empower agents with the right tools. Zingtree currently integrates with Salesforce, Talkdesk, Zendesk, Freshdesk, Intercom, Slack, and Twilio, among others. Speaking about our partnership, Talkdesk’s VP of Alliances, Robert Gavin shared, "Zingtree provides a tightly integrated toolset for complex agent workflow and scripting challenges, which complements our platform perfectly. As a Talkdesk AppConnect partner, Zingtree has been a unique differentiator for us and adds to our ability to offer an easy-to-use experience for agents."
The Future Ahead
We live in a world of information overload, where human decision-making in the workforce is critical and getting increasingly complex. That’s why Zingtree is a game-changer for contact centers and support teams with complex processes to follow, strict compliance, and the need to scale. We will strive to make customer experience a competitive advantage for companies around the world.
We want to take this moment to express our gratitude to the 700+ companies allowing us to empower your agents and help you achieve your customer experience goals. We’re honored to serve you and excited for this next phase of our journey!