Israel-based tech startup Swish.ai raises $13M to bring hyperautomation to enterprise IT service management
Every day, an unprecedented amount of data is generated every second by continuous interactions on our digital devices, online platforms, organizations’ IT systems, and cloud data centers. However, making sense out of this data has remained a challenge for most organizations.
Enter Swish (formerly DeepCoding.ai), an Israeli tech startup that monitors the entire organization’s IT delivery operations, anticipates risks, and recommends solutions so that IT leaders can make better business decisions. Unlike other enterprise Service Management on the market, Swish brings hyperautomation to turn the avalanche of data that’s being generated by today’s digital interactions into autonomous decisions which are smarter, faster, and more accurate.
We wrote about Swish back in March when the startup released an economic impact study by MetricNet, which confirmed that AI reduces IT Support costs by 25% and slashes resolution times. The further showed that Swish’sAI-led ITSM autonomous optimization technology significantly reduces costs while enhancing efficiency and customer satisfaction. Since then, the company has grown its operations and also attracted new investments from investors.
In a further sign of confidence in the company’s direction, Swish.ai announced today it has raised $13M in Series A funding led by Dell Technologies Capital with participation from Skywell Capital Partners, Samsung Next and existing investors StageOne Ventures and AxessVentures. The company will use the funding proceeds to expand and further invest in its proprietary technology.
Founded in 2017 by Arnon Yaffe and Sebastien Adjiman, Swish.ai is a hyperautomation platform that empowers enterprise IT leaders to reinvent their ITSM delivery experience by seamlessly integrating with existing ITSM solutions. Its unique autonomous ticket flow orchestration assigns every ticket in real-time by taking into consideration many parameters such as agent skillset, team workload, and ticket urgency — reducing hops and mean time to resolution by more than 50%.
For many decades, Enterprise ITSM is one of the most labor-intensive and costly IT functions. The massive acceleration of digital transformation has significantly increased IT ticket volume by 30%. In addition, the IT labor shortage is limiting the ability for enterprises to staff up to meet this growth, greatly increasing user wait time and negatively impacting productivity and employee satisfaction. This challenge creates a significant need for hyperautomation in ITSM.
Swish.ai is the first hyperautomation platform that uses AI to apply autonomous ticket orchestration on top of existing ITSM workflows. With Swish.ai, all types of tickets — even the more complex ones — can be expedited in real time to the best agent available, removing bottlenecks, reducing ticket “hops”, and improving the average resolution time by more than 50%. The platform also provides service leaders with real-time, performance augmented analytics and strategic insights to proactively identify optimization opportunities and take the necessary actions.
“We founded Swish.ai with the belief that real value of hyperautomation isn’t just simple efficiencies but is instead the ability to turn the avalanche of data that’s being generated by today’s digital interactions into autonomous decisions which are smarter, faster and more accurate,” says Sebastien Adjiman, Co-Founder and CEO at Swish.ai.
Adjiman added, “Our investors understand this and we’re grateful to have their support as we expand the availability of the game-changing results our Fortune 500 customers and leading global MSPs have experienced to more enterprises. We believe Swish.ai is the perfect solution for any enterprise service and support leader, who is looking for a way to quickly utilize the benefits of hyperautomation to help them reinvent their current ticket process. The new company name reflects the increased speed and precision ITSM organizations can now effortlessly achieve when they use Swish.ai in conjunction with their existing service management tools to intelligently orchestrate ticket flows in real-time.”