Bangladesh-based chat platform secures $500k in seed funding

Alice Labs, a Bangladesh-based company that helps companies aggregate and automate their customer service, has raised US$500,000 in a seed round led by New York-based VC Anchorless Bangladesh. The round also saw participation from HOF Capital.

Alice Labs’ team / Photo credit: Alice Labs

Founded in November 2018, Alice Labs develops a core product called MyAlice, which allows businesses to connect all of their customer-facing channels, including website chat and social media messaging platforms.

The platform can automate conversations with customers through natural language processing (NLP) and machine learning capabilities. Conversations can also be conducted with a human operator when required.

The company claims that MyAlice can automate over 70% of conversations, reduce service costs by over 30%, and improve customer satisfaction and retention.

With the new funding, Alice Labs plans to enhance its offerings, build partnerships with key industry players, develop its distribution channel, and fuel its expansion to the markets of Southeast Asia, the Middle East, and North Africa.

The company says that it has more than 50 clients, including major brands such as Unilever, Coca-Cola, Giordano, and Maybelline. Majority of their customers are from Bangladesh, Myanmar, Nepal, Singapore (where the company is incorporated), and Malaysia.

“We are language-agnostic. We have been working with English, Bangla, Hindi, Burmese, Malay, Filipino, Arabic, and a few other languages in South and Southeast Asia. We also have a pipeline to integrate more,” Shuvo Rahman, founder and CEO of Alice Labs, tells Tech in Asia.

The funding marks Alice Labs’ first round of external funding.