Romanian-founded AI startup EmailTree, which automates the work of the customer service departments to increase productivity, has raised €2.5M in its latest funding round. This news comes after last year they raised €1.4M.
EmailTree is working on improving automated written responses, thus client service. They claim that their algorithm helps lower with over 50% the time it takes to answer written messages. This means they target all companies which deal with a big inflow of emails, social media, or instant messaging platforms.
Their hyper-automation solution is based on NLP/NLU, ML, and RPA techniques. With these, the EmailTree AI can extract details, compose texts, and create tasks in languages like English, Romanian, and German.
This funding round will be used to keep developing their solution, integrate CRM and email applications, voice-to-text, cover instant messaging and social media platforms, as well as increase sales and marketing efforts.
The AI startup was co-founded by Romanian Casius Morea, who is also the CEO, and Xavier Buck in 2019 and has raised almost €5M so far. The co-founders have a background in e-commerce, business law, and AI’s implications for business strategies, as well as in digital and data service providers solutions.
Casius shared with The Recursive that the idea materialized first as an internal need in the company he was leading at the time, BWM Mediasoft Group. He has over two decades of experience in the IT e-commerce industry and in 2015 his team looked into ways to make customer service departments answer faster.
“The software handled the entire task after a user requested an extension of an antivirus license through a bank check. It not only responded to the customer but also generated an invoice for the transaction and extended the license,” Casius shared.
With offices in Sibiu and Timisoara in Romania, Paris in France, and the headquarters in Luxembourg, they employ over 35 people and have clients like Orange Luxembourg, the telecommunications giant.
Casius explained that it’s important for him to share his work with the Romanian ecosystem and be inspired by it as this is where he launched his first company, back in 1998. Among the early investors in the company are Vlad Ionescu, CMO at Tokinomo, and Ciprian Man, the co-founder of Growceanu Angel Investments.
“Besides providing a smart way to save time by optimizing interactions using AI, EmailTree as a company has been attracting the right kind of attention from new customers, investors, and has been growing as a team in a stellar fashion. This was our first international investment in a company founded elsewhere in the EU, a very good experience and the first of many to come,” Ciprian Man shared with The Recursive.
The global email marketing software market size is set to reach almost €10B by 2025. Although the pandemic seems to have slowed it down, most companies will want to use this advanced technology in the future to trigger sales faster and grow. Major global players are HubSpot, Inc. and the IBM Corporation.