The Series A funding led by Altos Ventures will enable Akia to scale its automation technology to help businesses manage the ongoing labor shortage.
SAN FRANCISCO, January 19, 2023--(BUSINESS WIRE)--Akia, a customer experience automation platform, today announced a $6 million Series A funding round. California-based venture capital firm Altos Ventures led the financing with additional participation from GSR Ventures, who led the previous seed round.
Since launching in 2019, Akia has consistently achieved 3x year-over-year growth, operating primarily in hospitality. The current market conditions, ongoing labor shortage, and post-pandemic impact have increased demand for Akia's automated customer engagement framework. Akia has helped thousands of businesses eliminate monotonous paperwork, automate processes and drive engagement to better serve consumers and increase efficiency.
In an app-fatigued world, where over 75% of app downloads are not used more than once, Akia’s Mini Apps are mobile experiences that don’t require download or login. From the business perspective, where native apps fall short - costs, maintenance, and engagement challenges - Mini Apps fill these gaps with better accessibility and usability. Companies using Akia’s platform produce more results by leveraging Mini Apps to automate and expedite day-to-day processes like identity verification, security deposit collection, or even contactless hotel check-in.
"Securing this new round of funding from Altos is really a validation of our vision," said Evan Chen, CEO of Akia. "Consumers are tired of poorly made chatbots, waiting on hold for call centers, or downloading apps for single use. We are committed to developing innovative products and services that help businesses respond more effectively and quickly to the changing needs of their customers."
The shift towards a contactless first approach and the ongoing staff shortages have created a prime opportunity for Akia to make a splash in the market. Akia is well-positioned to take advantage of these favorable conditions and will continue to expand its reach and impact.
"Akia is paving the path for the next generation of tech-enabled services," said Jim Dai, Partner at Altos Ventures. "The hospitality sector has faced numerous challenges in recent years and will need a system like Akia to delight customers while improving efficiency. We are thrilled with Akia's momentum and have complete confidence in its leadership and long-term vision."
About Akia
Akia is an automated customer engagement platform designed to streamline operations for service businesses. Akia integrates with other technologies, including management systems and hardware platforms, to enable its customers to do even more through communication. For more information, visit www.akia.com.
About Altos Ventures
Founded in 1996, Altos Ventures is a technology investment firm based in Silicon Valley. Through patient and pragmatic investing, Altos partners with early to growth stage technology companies operating in consumer and enterprise sectors, with the goal of building durable and compounding businesses over decades. As a registered investment advisor (RIA) with the SEC, Altos has a uniquely flexible, long-term, and concentrated approach to venture capital, supporting the full lifecycle of companies from inception to global growth and profitability. For more information, please refer to www.altos.vc.
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