Dell, Samsung Invest In ITSM, MSP Software Automation Startup Swish.ai
Swish.ai, which develops automation software for IT service management (ITSM) workflows and MSP help desk tickets, has raised $13 million in Series A funding led by Dell Technologies Capital with participation from Skywell Capital Partners, Samsung Next and existing investors StageOne Ventures and AxessVentures.
Swish.ai (formerly DeepCoding.ai) uses AI to apply autonomous ticket orchestration on top of existing ITSM workflows for enterprises and MSP service desks, the company said. The software taps into proprietary Service Language Understanding (SLU), Natural Language Processing (NLP), business process mining, and machine learning to expedite ticket processing in real-time. The result: All types of tickets can be expedited in real time to the best agent available, the company asserted.
Early Swish.ai partners include BMC, Deloitte, Dicomano Labs, MicroFocus, Matrix, Tecnosoftware and ServiceNow.
Swish.ai: Potential MSP Help Desk Benefits
In the MSP market, Swish.ai’s automation can help to drive down help desk agent turnover, the software company asserts. In a March 2021 blog, the company said:
“In an effort to break even, or earn a small profit, some service providers will do everything possible to reduce their costs. This includes but is not limited to paying low wages, not investing in training, and offering few if any career path opportunities for front line agents. These factors have a devastating effect on agent turnover, which as mentioned earlier, is more than double that of agents who work in the enterprise world.
Fortunately, there’s a solution to the decades-old problem of high turnover for both enterprises and MSPs. That solution is the smart application of AI – artificial intelligence.”
Swish.ai and Robotic Process Automation
Instead of competing head-on against robotic process automation (RPA) software, Swish.ai is a “great complement that can immediately add value to any existing optimization initiative such as intelligent bots, RPA or Autonomous Service Desk solutions,” the company asserted.
RPA software allows businesses to write code and bots that rapidly automate manual tasks across multiple departments — from IT service desks to HR, finance, customer support and more.
The global RPA software market is expected to reach $13.74 billion by 2028, up from $1.57 billion in 2020. The market’s compound annual growth rate from 2021 to 2028 is expected to be 32.8%, Grand View Research predicts.
Much of the RPA software industry focuses on enterprise customers. Still, RPA may even eventually catch on in the SMB market as MSPs seek to further automate internal and customer operations. Key RPA software providers in the MSP and SMB market include ElectroNeek and Rewst.
Swish.ai Funding: Executive Perspectives
In a prepared statement about the funding, Swish.ai CEO Sebastien Adjiman said:
“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. 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.”
Added Yair Snir, managing director at Dell Technologies Capital:
“Service management is an obvious target for the emerging hyperautomation industry due to the rapidly growing ticket volumes and labor-intensive processes enterprises rely on today. Most organizations are struggling to make incremental improvements to their workflows and are thrilled when their KPIs show they’ve reduced their ticket resolution time by 1-2%. The Swish.ai team has already proven the value of hyperautomation for some of the largest companies in the world and we look forward to supporting and partnering with them on their next stage of growth.”