First Venture-backed Investment Will Accelerate Delivery of AI, Machine Learning-based Product Enhancements
Syosset, NY – July 12, 2022— CrushBank, developers of an artificial intelligence (AI) solution purpose-built for IT support, today announces that Arthur Ventures has invested $5.5M in a Series A round that closed in June 2022. ConnectWise Co-founder David Bellini, a prior investor, joined Arthur Ventures in this round with a vote of confidence for CrushBank’s strategic direction.
CrushBank’s AI and ML powered platform, CrushBank Resolve, dramatically increases the productivity of IT support by presenting them with a list of recommended solutions when they first open a customer’s trouble ticket. Recently, the company expanded its focus to develop similar solutions based on auto-categorization, the automated classification of incidents into well-defined, manageable categories and concepts.
“Arthur Ventures clearly understood the transformative effect of our products on traditional IT support delivery,” said Evan Leonard, CEO of CrushBank. “We expect our aggressive product enhancements in the areas of data management, support analytics and self-service enablement to be the key to optimizing service delivery for all IT organizations.”
Arthur Ventures exclusively invests in early growth technology companies creating business-to-business software and solutions.
“As we’ve watched CrushBank, we’ve been impressed with the company’s ability to solve complex IT Help Desk challenges with deceptively simple applications of advanced knowledge technologies,” said Ryan Kruizenga, general partner, Arthur Ventures. “This investment will enable CrushBank to capitalize on and exploit the substantial market momentum driving demand for AI- and ML-powered solutions that is coming from IT services firms across the country.”
CrushBank will use the Series A round to accelerate time to market for significant extended data quality, workflow and customer self-service product enhancements to its proven product portfolio. These enhancements will enhance customers’ ability to move past search and into re-engineering data workflow, the bedrock of organizational efficiency and productivity.
About Arthur Ventures
Based in Minneapolis, Arthur Ventures leads investments in high-growth, capital efficient B2B software companies in every region across North America. Learn more at https://www.arthurventures.com
CrushBank is the only application that uses Machine Learning and AI across multiple tools in the IT tech stack. CrushBank unlocks a firm’s proprietary content and historical ticket notes to provide invaluable support information and then uses that same technology to categorize and classify client interactions for improved decision-making. Founded by industry leaders, CrushBank decreases escalations to Level 2, increasing productivity and customer satisfaction. CrushBank searches and categorizes more than 25,000 tickets every day. For more information, visit www.crushbank.com.