$10m Fuels Global Expansion for Customer Platform Momos

AI-powered customer platform Momos has announced $10m Series A funding, more than doubling its total raised to date. The money will be used to grow engineering and sales teams, continuing the firm's global expansion.

Momos has dual headquarters in San Diego and Singapore, and around 50 staff, and was founded in 2021 by Sai Alluri and Andrew Liu, alongside a team from Uber, Grab, Microsoft and Intuit. The company describes itself as 'the AI-powered Customer Platform for Multi-location Brands', and started as a member of the GPT-3 beta program. The platform combines management of customer service, CX and marketing, across multiple locations, allowing brands in food & beverage and retail sectors among others 'to drive insights and elevate customer experiences throughout the customer lifecycle', while reducing costs.

The new round, adding to $7m received earlier, was led by 645 Ventures, with participation from existing investors Alpha Wave Global and Peak XV, and new investors Soma Capital, FJ Labs, Taurus Ventures and Correlation Ventures.

CEO Alluri says 90% of the firm's customers use their platform 'every single day', adding: 'Momos' partners have millions of customers across their brick-and-mortar locations. They have too many touchpoints and before Momos' AI, it was impossible to manage them across channels. Momos brings everything in and automates the entire customer lifecycle at each location so our partners can save time and drive more repeat customers'.

Nnamdi Okike, co-founder and Managing Partner of 645 Ventures, joins the Momos board with the investment.

Web site: www.momos.com .

All articles 2006-23 written and edited by Mel Crowther and/or Nick Thomas, 2024- by Nick Thomas, unless otherwise stated.