# Needle

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/needle

- Industry: Marketing/Advertising
- Headquarters: Lehi, US
- Website: www.needle.com
- Total disclosed funding: $20M
- Latest round: Series C (May 12, 2014)
- Investors on record: 2

## About

Needle Inc. is a technology company specializing in AI-driven customer support solutions that enhance user engagement and streamline service processes across various communication channels.Founded in 2010 in Lehi, US, Needle Inc. provides an AI-powered support automation platform that centralizes knowledge management and automates customer interactions. The company has undergone significant growth, culminating in its most recent funding round, which was a Series C that raised USD 7.00 mn, bringing the total amount raised to USD 7.00 mn. The company has completed 5 deals, with its latest deal occurring on August 28, 2020. The founders of Needle Inc. are Brett Hammond, Morgan Lynch, and Sayed Hasan, with Brian Tervo and Ingrid Alongi currently serving as CEOs.Needle Inc. offers an AI-powered support automation platform that integrates multiple communication channels, such as chat, voice, email, social media, and SMS. This platform enables businesses to handle up to 90% of customer inquiries autonomously, enhancing operational efficiency and allowing for real-time assistance for support agents. Its clientele spans various sectors, including retail, healthcare, financial services, and education, marketed across North America, Europe, and parts of Asia.Needle Inc. operates on a subscription-based revenue model, with clients paying for access to its platform and features through annual or monthly fees. This model accommodates different tiers of service based on user count and feature utilization, fostering long-term partnerships with organizations of various sizes, all aimed at improving customer experience and operational efficiency.As part of its future growth strategy, Needle Inc. is looking to expand its product offerings and geographic footprint. The company is focused on developing new products to enhance its platform capabilities and plans to enter additional markets in North America and Europe by late 2021. The recent acquisition by reStage in August 2020 is expected to support these initiatives, leveraging new resources to accelerate product development and market expansion.

## Funding rounds

- Series C, May 12, 2014, $7M — Rembrandt Venture Partners
- Series B, Jul 2, 2012, $11M — Shasta Ventures, Rembrandt Venture Partners
- Series A, Mar 11, 2011, $2M — Rembrandt Venture Partners

## Investors

- Rembrandt Venture Partners (https://capitalatlas.ai/funds/rembrandt-venture-partners) — Series A, Series B, Series C
- Shasta Ventures (https://capitalatlas.ai/funds/shasta-ventures) — Series B