Calgary’s IrisCX quintupled its revenue in 2022 and is on track to double its revenue in 2023.
The smart video platform for virtual product selection, DIY setup, and support is on a serious roll and Arthur Ventures wants to keep the party going.
IrisCX announced today that it has received USD $4.6 million in seed funding from Arthur Ventures with the funds earmarked for product development, investing in go-to-market, and doubling it team size in 2023.
Through IrisCX’s smart video platform, brands can own their consumers’ purchasing and customer support experiences virtually. Powered by computer vision, conversational intelligence, and machine learning, IrisCX’s self-guided and live video sessions provide brands with the context-driven consumer behavior insights needed for intelligent decision making.
“We are excited to partner with Arthur Ventures because they recognize the huge role virtual service will play in the future,” said IrisCX co-founder and CEO Guillermo Salazar.
“As consumers, we’re often forced to settle for a poor sales and support experience. Things like chatbots and 1-800 numbers are painful. In today’s digital-first world, this kind of customer experience is antiquated and unacceptable. We are pleased that this well-respected firm supports our strategy and believes in the capabilities of our team to solve this problem.”
IrisCX has facilitated over 30,000 video sessions between product experts and consumers. Brands have achieved average customer satisfaction scores of 9.6 when using IrisCX. For comparison, many home product brands have average customer satisfaction (CSAT) scores of below 7.
“Companies want to provide better customer and technical support, but they need better tools to do so,” said Salazar. “With IrisCX, you can provide a great virtual, at-home experience that makes customers happier, improves brand loyalty, reduces the cost of customer and technical support, and reduces product returns.”
The company is an alumni of Google for Startups, Acceleprise (Forum Ventures), and Stage 2 Capital’s accelerator program.
This new round of funding brings IrisCX’s total funding to USD $6.8 million. Heron Rock Fund, Forum Ventures, and private investors provided a USD $1.7 million pre-seed round in June 2021. Stage 2 Capital selected IrisCX to participate in its accelerator program in July 2022 and has also invested.