I am happy to announce a Series A investment in CustomerXPs Software Private Limited, a software company based in Bangalore.CustomerXPs is a rare example of a home-grown enterprise software company that aims to compete on the global stage with truly world-leading innovation.
The firm operates in the analytics space to provide human-like intelligence using real-time transaction data (for example, when a bank's customer calls the call centre with a question). A short-hand way of thinking about what the company does is, as one journalist said, CRM Version 2.0. CRM industry insiders would probably see this as Version 3.0, if we define Version 1.0 as contact management and Version 2.0 as analytics on historical customer data. Customer relationship is only one application of the company's technology. The technology is also being used for monitoring of fraud and compliance matters, business intelligence and other transaction-heavy applications.
Besides the team's obvious expertise spanning technical areas (artificial intelligence, data management, statistics, psychology and behavioural science), product management and sales, what struck us is the amount of commitment that the founders had to the long-term vision, with the discipline not to seek easy services revenues by becoming yet another Indian IT solutions company.
I hope to see more such product companies emerging and getting funded in India to allow the broader ecosystem to develop.
More information on the investment here.