The five-year-old firm has raised $4 million from a fund managed by Singapore-based JAFCO Investment (Asia Pacific), which has $730 million in funds under management. The Bangalore-based start-up, founded by a team that was earlier part of the products division at information technology major Infosys, has built a software product based on artificial intelligence and psychology. It is now live on the portals of ICICI Bankand is expected to rake in a slew of new customers across telecom, retail, insurance, healthcare and airline industries. For JAFCO, the investment in Customer XPs meets its goal of tapping promising technology companies and innovative software product companies in India, which is renowned for its prowess in software outsourcing.
"Few Indian software product companies exist and barely a handful can be said to make truly innovative world-beating products. CustomerXPs is one of those few," JAFCO Asia senior investment manager Murli Ravi said.
"Customer relationship management software is mainly built on transactions. Ours is based on intelligence that works based on our likes and dislikes," says Rivi Varghese, co-founder Customer Xps, whose team spent 6-9 months reading up on Class-12 mathematics and books on psychology, artificial intelligence and behavioural sciences to build the product.
"Few Indian software product companies exist and barely a handful can be said to make truly innovative world-beating products. CustomerXPs is one of those few," JAFCO Asia senior investment manager Murli Ravi said.
"Customer relationship management software is mainly built on transactions. Ours is based on intelligence that works based on our likes and dislikes," says Rivi Varghese, co-founder Customer Xps, whose team spent 6-9 months reading up on Class-12 mathematics and books on psychology, artificial intelligence and behavioural sciences to build the product.
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