SUMMARY
Founded in 2014 by Sheshgiri Kamath and Vikas Garg, Kapture CX offers AI-enabled CRM software to companies across multiple industries
The Bengaluru-based startup claims to have operations in five countries, and it caters to enterprises across 18 countries
Earlier this year, the startup announced it incorporated ChatGPT in its product suite to enhance the customer experience
Bangalore-based customer experience platform Kapture CX has raised $4 Mn in its Series A funding round led by Cactus Venture Partners.
Speaking with Inc42, founders Sheshgiri Kamath and Vikas Garg said the company would utilise the capital to expand its presence in international markets, enhance its product offerings and strengthen its team.
Founded in 2014, Kapture CX offers AI-enabled customer relationship management (CRM) software, enabling companies to reach their customers at the point of contact of their choice. The startup brings customer experience management via direct channels, including calls, WhatsApp, chat, email and social media.
Kapture CX has developed a suite of products, the Kapture One Suite, which includes a contact centre, a service centre, a field agents management system, a live chat solution, an AI-based self-service tool for customers for basic troubleshooting, a knowledge management system (KMS) and a learning management system (LMS).
“We realised that despite being a mature and well-capitalised field, customer support doesn’t work because everybody has taken a horizontal approach, that is, the same product is supposed to work across the board. We realised that it doesn’t work anymore,” Kamath said, explaining the idea behind Kapture CX.
The cofounder added that the startup has gone deep into the four verticals, which have many use cases in customer support – ecommerce, travel, banking and financial services and consumer durables.
The startup has built vertical offerings for the said industries and claims to have on-ground operations in five countries and caters to enterprises across 18 countries. Some of its largest customers include Nykaa, Meesho, Jiomart, BigBasket, Wipro, Tata and Zepto.
Kapture CX employs a usage-based revenue model, charging customers based on the number of users logged on the platform. According to the cofounders, 60% of the startup’s revenue comes from ecommerce.
Speaking more on ecommerce offerings, Garg said, “Every ecommerce company can build a hyper-personalised journey for their customers based on the desired outcome they want to give to their customers. Their average handle time reduces. The first call resolution improves, and CSAT and NPS also improve while reducing costs.”
In the case of its generative AI offering, the startup charges users based on the number of interactions with the platform.
Kapture CX Takes The Generative AI Route
The startup has integrated several generative AI models, including OpenAI’s ChatGPT, to improve customer experience with its enterprise users.
In May, the startup announced that it incorporated ChatGPT in its product suite alongside several other AI-based technologies for a better customer experience.
“We use generative AI in several ways, having used generative AI solutions before ChatGPT as well. The biggest advantage of ChatGPT is that it brings general intelligence. It understands what the user is trying to do and helps generate responses faster,” Garg said.
Garg added that Kapture CX integrated both OpenAI and Google’s generative AI APIs with its in-house AI engine to deliver personalised experiences for a particular customer.
About the differentiation Kapture CX brings, Kamath said, “We have taken GenAI use cases that are very specific to the industry. We are not building a generic AI layer. Because our focus is only on CX (customer experience), we don’t have any ancillary products. This enables us to build deeper into those spaces.”
While there are other CRMs with incorporated GenAI features, like Zendesk and HubSpot, Kapture CX’s focus on a few industries and developing specific use cases for those industries gives it a moat big enough to stay away from large marketing expenses, the startup claims.
With several big names already in its kitty, the startup is now looking at fresher pastures abroad, and if it plays its cards right, it might build itself a niche in the top global markets.
