Cordless, a modern telephony software with conversation intelligence, raised $2.3m seed round led by Fly Ventures to unlock insights for customer support teams. Cordless counts Passion Capital, Entrepreneur First and TrueSight among its investors; as well as high profile angel investors including Tom Blomfield (Founder of Monzo), Ian Hogarth (Founder of Songkick) and Eamon Jubbawy (Founder of Onfido).

Cordless is led by two female founders – Luba Chudnovets and Irina Bednova, who met while building Monzo bank. As a Head of Scaling Operations and a Technical Lead they worked on the problem of scaling customer support when Monzo was going through exponential growth. One of the key learnings that led to founding Cordless was that to build products that customers want to use, it’s crucial to have a deep understanding of how your customers feel and why they reach out for support.

Calls with customers is the richest source of feedback and an opportunity to build a relationship, but voice is a hard medium to analyse, said Luba Chudnovets, co-founder and CEO at Cordless. “We spoke to 100+ customer support leaders and most managers listen to at most 10 calls per week. This means companies are losing valuable information about how they can improve their service and product.”

Cordless is a telephony platform with AI-driven conversation intelligence for customer support teams. While chatbots took over text-based customer support, phone was left lagging behind. Cordless brings the power of GPT-3 to the world of voice. “In 5 years every company that supports voice will use AI to analyse their conversations at scale”, said Irina Bednova, co-founder and CTO at Cordless. Cordless will help managers identify areas for agent improvement and new trends in customer questions, for example: “40% more customers are reaching out about a login issue” or “Alice could improve her tone voice.” Cordless is designed to easily spot conversation trends, assess customer sentiment at scale, summarise calls and automatically categorise the entire volume of calls with the ultimate goal of helping companies improve their customer experience.

Customer support is often viewed as a cost centre. And as a result existing conversation intelligence tools focus on sales teams. In reality, services teams are the ones building relationships with customers, which directly impacts retention and revenue. This is especially important in the current market, where many Customer Experience execs are thinking of how they can do more with less. 83% of customers overwhelmingly agree that they feel more loyal to brands that respond and resolve their complaints. ****Cordless is built specifically for customer support managers to help them be the voice of the customer and retain the quality of support even on a tighter budget.

Marie Brayer, Partner at Fly Ventures said: “Voice support is a generally underinvested category, compared to text, but it is critical to several high-complexity product segments, as well as older, less tech-savvy customer groups. Luba and Irina experienced this first-hand at Monzo, and are now bringing a super well crafted platform to the market.”

Cordless works with companies like Curve, Plend, Second Nature and Fronted. The founders said they are very excited to work closely with the new investors and that funding will be used to accelerate customer acquisition, product development and deepen integrations in the customer support ecosystem.

Find out more about Cordless at cordless.io.