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Transforming IT Through AI-Driven Automation, Astound Launches and Announces $11.5 Million in FundingMENLO PARK, Calif., Jan. 30, 2018 /PRNewswire/ -- Astound, an enterprise software company applying machine learning and natural language processing to automate service and support, today announced its launch and $11.5 Million in Series A funding, co-led by Vertex Ventures and Pelion Venture Partners with participation from The Hive, Slack Fund, and Moment Ventures. "Employee service has to change," said Dan Turchin, Co-founder and Chief Product Officer, Astound (formerly Neva). "For as long as technology has been used inside of corporations, I don't know anyone who gets excited when they need to call the help desk. We're bringing the power of AI to global service organizations and helping deliver a radically better user experience. We're proud of the value we're creating and excited to be launching with incredible customers like McDonald's and adidas." Astound makes work life more efficient for employees at large enterprises by automating the resolution of routine support issues like password resets, application configuration, and network outages. Its AI platform uses machine learning and natural language processing to automate answers to common questions to reduce call volume up to 70 percent. In addition, this automation reduces mean time to resolution by up to 60 percent and cost per ticket from an average of $25 to $1.50. Astound was co-founded by Dr. Naghi Prasad, CEO, who holds a PhD in artificial intelligence and has brought to market many successful data-driven enterprise software products in pst roles, and Dan Turchin, Chief Product Officer, who has two decades of experience working with CIOs as an entrepreneur and product leader in data science for Enterprise Service Management. "As every company becomes more dependent on technology, employee support is becoming business-essential," states Sandeep Bhadra, Partner at Vertex Ventures. "Astound's founding team possesses background in that uniquely positions them to address this need and transform the industry as we know it." The Astound AI platform includes the following apps:
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