Ada Support reaches $1.2bn valuation with latest funding round
By Caoimhe Toman
Date: Friday 07 May 2021
(Sharecast News) - Chat bot company Ada Support raised its valuation to $1.2bn in its latest funding round with a $130m investment led by Spark Capital.
Tiger Global Management also participated, alongside existing investors including Bessemer Venture Partners, Accel and FirstMark Capital.
The Canadian company help its clients, which include Facebook and Zoom Video Communications, interact more efficiently with users through automated chat boxes.
It was also a part of Canada's growing technology community, which has seen valuations rise for startups such as law firm software maker Clio and investment-management platform Wealthsimple Inc..
Critically, its business had gained momentum due to the coronavirus pandemic as many customer interactions move online, reported Bloomberg.
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