Square acquires conversational AI startup Eloquent Labs

Fundings and Exits

Square has acquired conversational artificial intelligence startup Eloquent Labs to help its merchants improve customer service.

Eloquent Labs, which raised a $1.5 million seed round back in early 2017, offers a conversational assistant named Elle to small businesses. The idea is that Elle will help merchants common customer service-related issues like returns, product tracking and FAQs.

“Eloquent’s conversational AI services are exactly the kind of technology that can level the playing field for businesses of all sizes by providing sellers efficient ways to interact with their customers,” Square wrote in a blog post. “The team will advance messaging across our entire ecosystem, and together we will build tools that leverage the latest in natural language processing research.”

There are a number of other startups in this space, including customer service software LiveChat, DigitalGenius and Olark. All three of those have raised more money than Eloquent Labs, which likely played a role in Square’s decision.

Products You May Like

Articles You May Like

Twitter returns after an hour-long outage
Ford and Volkswagen team up on EVs, with Ford the first outside automaker to use VW’s MEB platform
Anvyl, looking to help D2C brands manage their supply chain, raises $9.3M
Archinaut snags $73 million in NASA funding to 3D-print giant spacecraft parts in orbit
Waymo has now driven 10 billion autonomous miles in simulation

Leave a Reply

Your email address will not be published. Required fields are marked *