ZWC Portfolio|Singapore-based AI company Wiz.ai raises $6M Pre-A round to expand in Southeast Asia
May 28, 2020

Wiz.ai, a Singapore-based AI company, has recently completed a 6M Pre-A round led by GGV Capital, with participation from ZWC partner, Wavemaker Partners, Insignia Ventures, and Orion Fund managed by K3 Ventures. Proceeds of the fundraise will go into expanding Wiz.ai’s product offerings and growing their teams in Southeast Asia. 

Wiz.Ai raised an angel round led by ZWC Partners and Insignia Venture Partners last June. K3 Ventures,Welight Capital and Shanghai-listed Jinke Culture also took part.

Established in 2019, Wiz.ai is a fast-growing AI company that has deployed in-house, proprietary, cutting-edge conversational AI technologies into large corporations throughout Southeast Asia. Wiz.ai focuses on pushing the boundaries of conversational AI for ASEAN languages, with offices in Singapore, China, and Jakarta housing a growing team of scientists, researchers, linguists, and dialogue designers.

According to CEO and co-founder Jennifer Zhang, “Through improved AI chatbot technologies, conversational AI will revolutionize call centre functions and improve customer engagements cost-effectively. Deploying these technologies in businesses across Southeast Asia requires a deep understanding of the local culture and business landscape, so we continue to bring in exceptional talent from the region to our diverse team of experts in conversational AI.”

Overcoming the challenges of enterprise digitalisation in customer engagement

A key challenge of enterprise digitalisation is effectively capturing and processing insights from teleconversation interactions with customers. Wiz helps its customers cut costs while improving service levels with personalised inbound and outbound calls.

The human-like front-end of Wiz.ai’s proprietary talkbot encourages customers to convey more in conversations. At the same time, the back-end sifts through the data in real-time and stores insights from the conversations into the enterprises’ existing CRM to enable analysis at both the granular and aggregated level.

Paul Santos, Managing Partner at Wavemaker Partners, remarks, “People typically think of a talkbot as just an automated mouth. Wiz’s talkbot is more than a mouth as it also has the ears and the brain to form a complete solution. We listened to their demos, and they blew us away with how human-like they were. We’re excited to back the team with their decades of experience to bring conversational voice AI technology to corporations throughout SEA.”

Leading the digitalization of business in Southeast Asia through next-generation AI

Currently, Wiz.ai has secured a marquee client base with some of the world’s leading regional MNCs and are addressing industries which include healthcare, insurance, banking, telecommunications, e-commerce and even payment solutions for the Singapore Government. 

“With the team’s breadth and depth of expertise in the space, Wiz.ai is pioneering the future of business operations in Southeast Asia. Having worked with them since the beginning, we are excited to see how they continue to develop next-generation AI technologies that meet the diverse needs of the region,” adds Tan Yinglan, Founding Managing Partner of Insignia Ventures Partners.

Spreading the word of business automation through voice AI in the current crisis and beyond

“This period of crisis has highlighted the importance of automation, not just for efficiency but also for business continuity”, shared MX Kuok of K3 Ventures. “We have invested in and worked alongside the Wiz.ai team since day one, and we believe Wiz.ai will play an increasing role in shaping the digital transformation of enterprise customer service in the years to come.”

After this round of financing, Wiz.ai aims to expand its product offerings and geographical coverage from Southeast Asia to globally, while accelerating the industry-wide empowerment of dialogue and voice AI. Patrick Cheung, Founding and Managing Partner of ZWC partners, shares, “We are honored to be backing the team behind Wiz.ai, which is made up of one of the most talented AI teams around. They are a diverse team with deep domain expertise coupled with keen business acumen. We are confident they will go far, and we will do what we can to support them in their endeavours.”