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Customer service startup SupportLogic just raised $12 million in a funding round backed by Sorenson Ventures

* Customer service startup SupportLogic just raised $12 million in a fundraising round backed by Sorenson Ventures and Sierra Ventures.  * Founded in 2016, SupportLogic promises clients the "world's first intelligent support platform," using AI and natural language processing to extract data from customer queries. This can reduce churn, prevent complaint escalations, and help companies better understand customers' needs, SupportLogic claims. * The customer experience industry is predicted to be worth close to $15 billion globally by 2025.  * Visit Business Insider's homepage for more stories. SupportLogic, the San Jose-based startup trying to revolutionize customer service through AI, just raised $12 million in a Series A funding round backed by Sorenson Ventures and Sierra Ventures.  The firm promises clients the "world's first intelligent support platform," using AI and natural language processing to extract useful data from their online ticketing systems. This can reduce churn, prevent complaint escalations, and help companies better understand customers' needs, SupportLogic claims. SupportLogic says it has helped clients reduce operational costs by 35%, reduce escalations by up to 40%, and sped up the rate of customer queries being resolved by 25%. "Support datasets contain valuable insights about how customers feel about [companies'] products," said Krishna Raj Raja, founder and CEO of SupportLogic. "It's critical to extract signals from this dataset and foster collaboration between support, sales, customer success, and product teams."  Ken Elefant, managing partner at Sorenson, which led the round, said that the rise of subscription services means "churn and customer retention is a top priority for organizations." "SupportLogic's unique approach to this space and the technology they have built to extract signals from existing systems really excited us," he said. The customer experience industry is predicted to be worth close to $15 billion globally by 2025, according to research from analysts at Markets and Markets.  Join the conversation about this story » NOW WATCH: Why Pikes Peak is the most dangerous racetrack in America
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