Agara will provide Coinbase with better customer support
Coinbase announced the acquisition of Agara, an artificial intelligence-powered support platform with offices in India and the United States. The acquisition aims to expand and automate Coinbase's customer service by providing the Coinbase team with new machine learning and natural language processing tools.Founded in 2017, Agara works on machine learning and natural language processing to improve user experience. Agara employs around 40 people and has reportedly managed to land some big clients, including cloud-based software company Salesforce. The acquisition of Agara will cost Coinbase between $40 million and $50 million, tech-focused publication TechCrunch reported Monday, citing anonymous sources familiar with the matter. The two companies reportedly expect to close the deal later this year.
The company expects the purchase to be a win-win situation
According to Pankaj Gupta, head of operations at Coinbase in India, Agara’s tech team will join Coinbase as part of the acquisition. Gupta, a co-founder of Agara himself, expects the purchase to be a win-win for Agara and Coinbase. “It’s amazing to see my worlds collide here with Agara, a startup I co-founded in early 2017 but later left to join Google,” he noted.Abhimanyu, co-founder, and CEO of Agara noted that the company has been able to integrate its tech stack into phone-based communications with customers as well. "Some of the more complicated things we do are around phone calls. We have been working to automate much of, if not all, of the support that happens through phone calls". The acquisition comes at a time when Coinbase is struggling to provide adequate customer service and has been criticized for its phone support.
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