TL;DR:
- Salesforce is set to acquire Airkit.ai, a leading low-code platform for AI-driven customer service agents.
- Airkit.ai, founded by the creators of RelateIQ, was originally a customer engagement platform but now offers a GPT-4-based product for specialized chatbots.
- The undisclosed deal highlights Airkit.ai’s strong ties with Salesforce, with previous funding and a presence on Salesforce’s AppExchange.
- This strategic move aligns with Salesforce’s commitment to invest $500 million in generative AI startups.
- The integration into Salesforce’s Service Cloud is expected to be completed by January 2024, with Adam Evans leading the business.
Main AI News:
In a strategic move to enhance its customer service capabilities, Salesforce recently announced its acquisition of Airkit.ai, a prominent player in the low-code platform space. This acquisition is poised to revolutionize the way e-commerce companies engage with their customers by enabling them to build AI-powered customer service agents effortlessly.
While the exact financial details of the deal remain undisclosed, the significance of this acquisition cannot be understated. Airkit.ai, headquartered in Redwood City, California, was founded in 2017 by Adam Evans and Stephen Ehikian, notable entrepreneurs who previously sold their big data startup, RelateIQ, to Salesforce for a staggering $390 million in 2014.
Originally conceived as a self-serve customer engagement platform, Airkit offered businesses the ability to integrate data silos and address various use cases, including user onboarding. However, the company recently underwent a transformation, reintroducing itself as Airkit.ai. In its new avatar, Airkit.ai unveiled a groundbreaking product—a GPT-4-based platform that empowers companies like OpenTable and ShipBob to construct specialized customer service chatbots capable of handling inquiries related to order status, refunds, product information, and much more.
What sets Airkit.ai apart is its deep-rooted connection with Salesforce. Evans and Ehikian launched their new venture in 2020 with substantial backing, amassing $28 million in funding from investors such as Accel and Salesforce Ventures. Subsequent rounds of investment further bolstered Airkit.ai’s financial position, accumulating a total funding of $68 million in its relatively brief six-year history.
In another noteworthy development, Airkit secured a place on Salesforce’s enterprise cloud marketplace, AppExchange, in the previous year. This move signifies a synergistic partnership, bolstered by the resounding success and capabilities of Airkit.ai within the realm of generative AI.
The enthusiasm surrounding the broader generative AI movement, spurred in part by innovations like ChatGPT, is undeniable. Investors are eager to support pioneering startups in this domain, making a company with strong ties to Salesforce all the more appealing. Salesforce had recently committed to investing a substantial $500 million in generative AI startups, further emphasizing the importance of this acquisition.
The deal is expected to conclude by January 2024, at which point Airkit.ai will seamlessly integrate into Salesforce’s Service Cloud, bolstering its customer service capabilities. Notably, Adam Evans will continue to lead the business, ensuring a smooth transition and the continued delivery of cutting-edge solutions to Salesforce’s expansive customer base. This acquisition represents a significant step forward in Salesforce’s mission to provide world-class customer service solutions, cementing its position as a leader in the industry.
Conclusion:
Salesforce’s acquisition of Airkit.ai reflects a strategic move to strengthen its position in the customer service market. By leveraging Airkit.ai’s AI-powered solutions and deepening its generative AI investments, Salesforce aims to deliver cutting-edge customer service capabilities, solidifying its leadership in the industry and meeting the evolving demands of e-commerce companies.
