ADA Support Inc. |www.ada.cx
WHO
As the market leader in Automated Customer Experience (ACX), Ada is the only conversational AI platform purpose-built to support a scalable, automation-first customer experience strategy. Ada is the leading technology of Automated Brand Interactions, empowering the world’s fastest growing companies, like Zoom, Facebook and Square, with best-in-class solutions that deliver digital-first, omni-channel experiences at scale. Fueling interactions between brands and the people who love them (prospective and loyal customers, stakeholders and employees), Ada transforms reactive CX models into proactive, personalized profit generators. A global company, Ada’s brand interaction layer spans the entire customer journey, automating everything from simple, day-to-day inquiries to deeply complex conversations.
SITUATION
Frankel & Company was introduced to Ada 2016 as the company was in the process of raising its seed round of capital. The company was looking for finance management and strategic support to enable it to accelerate growth.
SOLUTION
Frankel & Company helped Ada reach well beyond its objectives to achieve significant growth over a short period of time, as the market responded strongly to the company’s ACX solution. Frankel & Company provided the following services and support to deliver targeted results during our tenure with Ada:
- Acted as Ada’s CFO for three years as the company scaled from five to over 150 people, while revenue grew over 10,000%
- Provided strategic counsel on capital efficient scaling and organization design
- Supported Series A fundraising by sourcing the first term sheet to kick off the raise
- Implemented strategic approaches to finance that built a capital efficient business
RESULTS
In 2021, Spark Capital, with participation from Tiger Global and existing investors, led a Series C financing deal with Ada.
Over our six years working with Ada through exponential growth, the company:
- Grew its EV (Enterprise Value) by +200X to a valuation of $1.2 billion
- Raised $200 million in capital from tier 1 VCs such as Bessemer, First Mark, Accel, Tiger
- Increased revenue by more than 30,000%
- Ranked 15 on Deloitte’s Technology Fast 500
- Chosen by the Canadian Innovation Exchange as a Top 10 Growth Company
- Placed number 11 of 400 on the Globe and Mail’s 2020 business ranking of Canada’s Top Growing Companies
Today, Ada is a global company leading the evolution of automated customer experience, powering billions of automated customer experience interactions for hundreds of brands around the world.