Frame AI: Why We Invested
It’s never been more important to listen to customers, or more possible to do so at scale.
While these are strange days, the world keeps turning. As always when the times get tough, the tough seem to be getting going.
Today we see another example of an early stage business maintaining momentum with Frame.ai’s announcement of the closing of their $6.3M Series A financing. We led it, along with Greycroft, who had been a seed investor in the company along with Firstmark Capital. The financing has been in the works for some time and despite the current COVID-19 backdrop, there was no hesitation among the investors to move forward as planned. In uncertain times, it’s that much more important to focus on the underlying strength of a company’s value proposition and for businesses to stay close to what their customers want. Frame, founded by an exceptional team of entrepreneurs, easily cleared both hurdles for us. We were eager to get the financing closed and get to work.
Frame’s platform gives companies the ability to understand and act on customer conversations, everywhere they happen. This theme of being able to listen to customers at scale has resonated with us for some time and was the underpinning of our investment in Bonobo.ai, acquired by Salesforce in 2019. In a world of “land and expand” go to market strategies and high cost enterprise sales models, focus is shifting to the importance of investing in customer growth, user experience and building enduring relationships through advanced CX capabilities. However, this is all the more challenging as the communications channels between companies and their customers are fragmented and expanding. Frame’s ability to unify interactions across channels and apply AI to spot patterns to identify actionable insights effectively and efficiently puts them in the path of progress for a broad spectrum of customer-centric enterprises.
Entrepreneurship is all about adjusting rapidly to changing circumstances and the importance of that is only amplified as we enter a period of economic uncertainty. Our experience with Frame’s co-founders, George Davis and Brandon Reiss, through the fundraising process gave us real insight into how carefully they listen to their customers and quickly incorporate that feedback into their platform. In the end, that’s what gives us confidence in any investment we make.
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