Momos, a customer platform powered by artificial intelligence (AI) and based in both Singapore and the US, that it has Secures $10 million in Series A funding, with 645 Ventures leading the investment.
In addition, Soma Capital, FJ Labs, Taurus Ventures, Correlation Ventures, and current investors Alpha Wave Global and Peak XV participated in the investment round, according to a statement from Momos.
As per the announcement, Momos aims to assist food and beverage, retail, and other multi-location businesses in driving their whole client lifecycle with artificial intelligence. This investment will expedite that ambition. It is stated that Momos has so far raised $17 million in funding.
Together with a group from Microsoft, Intuit, Uber, Grab, and Sai Alluri, Momos was created in 2021. The group discovered that the current solutions could not assist brands in smoothly managing their clientele across numerous places after managing thousands of enterprises at UberEats and GrabFood in the past.
Momos team recognized the potential that AI offered and collaborated with OpenAI from the beginning, initially participating in the GPT-3 beta program. AI should also be used by physical enterprises. Millions of people visit the physical stores owned by Momos’ partners. They have too many touchpoints, and managing them across channels was impossible prior to Momos’ AI.
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Momos’ co-founder and CEO, Sai Alluri, said, “Momos brings everything in and automates the entire customer lifecycle at each location so our partners can save time and drive more repeat customers.”
They offering a practical solution to a real issue that multi-location companies and their clients face. They expanded significantly, and this money will let us reach millions more businesses globally, he continued.
It is mentioned that Momos is present in ten countries in North America, Asia Pacific (APAC), and the Middle East, and that it collaborates with thousands of businesses worldwide, such as Shake Shack, Baskin Robbins, and Guzman y Gomez.
Momos partners with range from small, regional brands with a few stores to large, international corporations with thousands of locations. Through the use of its extensive platform, which offers marketing, customer experience, and customer support solutions, organizations may lower costs while gaining valuable insights and improving customer experiences at every stage of the customer lifecycle.
Andrew Liu, co-founder of Momos said “Partners manage their enterprises with great busyness. In order to free them up to concentrate on providing amazing experiences, we streamline their customer stack,”.
They drive ten times return on investment (ROI) for their partners because they are outcomes-focused. The fact that they can save time for numerous teams while simultaneously boosting sales and client retention for them makes them really proud.
Nnamdi Okike, a managing partner and co-founder of 645 Ventures, is joining the board, according to the announcement. He brings with him they ten years of expertise investing in vertical SaaS, having worked with well-known businesses including Squire, LeagueApps, and Lunchbox.
About Momos
Momos is the AI-powered CXM platform for multi-location brands. Your favorite global brands such as Shake Shack, Baskin Robbins, and Wendy’s uses Momos to automate their entire customer stack.
