# ADA Support

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/ada-support

- Industry: Software
- Headquarters: Toronto, Canada
- Website: www.ada.support
- Total disclosed funding: $191M
- Latest round: Series C (May 7, 2021)
- Investors on record: 8

## About

Founded in 2016 by CEO Mike Murchison and David Hariri and based in Toronto, Canada, ADA Support Inc., offers an AI customer service platform and ACX strategy for automating and building customer experiences. The company is backed by venture capital firms including Accel, Bessemer Venture Partners, FirstMark Capital, Version One Ventures, and Leaders Fund. The company’s customers include Zoom, AirAsia, MoneyLion Inc, and Shopify Inc., among others as it serves e-commerce, Fintech, SaaS, media, telecom, banking, insurance, retail, travel, and education sectors. 

In 2020, ADA Support raised USD 44 million in Series B funding led by new investor Accel. In 2021, ADA Support Inc. raised USD 130 million in Series C funding led by new investor Spark Capital, with participation from other new and returning investors. The Series C funding values ADA Support Inc. at USD 1.2 billion post-money. As of 2021, the company staffs over 200 employees. 

The company offers support throughout the ACX cycle, starting from implementation and optimization to feedback, insights, and strategic planning. Ada offers an AI chatbot that helps businesses to serve their clients digitally by enabling customers to get answers to basic questions, explore products, and get personalized answers. Ada Support’s platform comprises of AI chatbot available 24X7 across mobile, digital, and social channels in over 100 languages and used for automating responses to FAQ’s, a no-code conversational platform to allow digital marketers to engage in personalized marketing and proactive responses to customers, and Ada CX that combines the power of Ada Engage and Ada Support to enable businesses to run personalized campaigns. 

Additionally, the company spotlights metrics like the percentage of engaged customers and topics and the share of conversations that require an agent; spikes in inquiry volume over a certain period; and the number of live agents required during peak seasons.

The company generates revenue when users across all industries and stages deploy Ada AI chatbots. 

ADA Support Inc. plans on utilizing the Series C funding to grow its headcount to over 500 employees, support global expansion from a go-to-market perspective and continue innovation in research and development.

## Funding rounds

- Series C, May 7, 2021, $130M — Accel, Spark Capital, Bessemer Venture Partners, Tiger Global Management, FirstMark Capital, Version One Ventures, Burst Capital
- Series B, Mar 19, 2020, $44M — Accel, Bessemer Venture Partners, FirstMark Capital, Version One Ventures, Leaders Fund, Burst Capital
- Series A, Dec 18, 2018, $14M — Bessemer Venture Partners, FirstMark Capital, Version One Ventures, Leaders Fund, Burst Capital
- Seed, Jul 20, 2017, $2.5M — Bessemer Venture Partners, Version One Ventures

## Investors

- Bessemer Venture Partners (https://capitalatlas.ai/funds/bessemer-venture-partners) — Seed, Series A, Series B, Series C
- Version One Ventures (https://capitalatlas.ai/funds/version-one-ventures) — Seed, Series A, Series B, Series C
- FirstMark Capital (https://capitalatlas.ai/funds/firstmark-capital) — Series A, Series B, Series C
- Leaders Fund (https://capitalatlas.ai/funds/leaders-fund) — Series A, Series B
- Burst Capital (https://capitalatlas.ai/funds/burst-capital) — Series A, Series B, Series C
- Accel (https://capitalatlas.ai/funds/accel) — Series B, Series C
- Spark Capital — Series C
- Tiger Global Management (https://capitalatlas.ai/funds/tiger-global-management) — Series C