Moveworks

Last updated

Moveworks
Company type Private
Industry Enterprise software
Artificial intelligence
Natural language understanding
Probabilistic machine learning
Founded2016;8 years ago (2016)
Key people
  • Bhavin Shah
  • (CEO)
  • Vaibhav Nivargi
  • (CTO)
  • Varun Singh
  • (VP of Product)
  • Jiang Chen
  • (VP of Machine Learning)
Number of employees
500+
Website moveworks.com

Moveworks is an American artificial intelligence (AI) company headquartered in Mountain View, California. The company develops an AI platform, designed for large enterprises, that uses natural language understanding (NLU), probabilistic machine learning, and automation to resolve workplace requests.

Contents

Moveworks’ customers include Autodesk, Broadcom, and other firms. [1] [2] Employees converse with the Moveworks chatbot to submit their requests, which Moveworks analyzes and then resolves via integrations with other software applications. Moveworks is available in business communication tools such as Slack and Microsoft Teams, as well as through online platforms such as ServiceNow and SharePoint. [3]

As of its Series C financing round in June 2021, Moveworks is valued at $2.1 billion and has raised $315 million in total funding. [4] The company’s investors include Tiger Global, Alkeon Capital, and other firms. [5]

History

Moveworks was founded in 2016 by Bhavin Shah (CEO), Vaibhav Nivargi (CTO), Varun Singh (Vice President of Product), and Jiang Chen (Vice President of Machine Learning). [6] [7]

The founders recognized the potential of an AI-powered chatbot to resolve a significant portion of employees’ support issues, without involvement from a corporate help desk. [8] This model would enable self-service for employees with common requests or questions.

After working with a group of lighthouse customers to automate IT support use cases, Moveworks came out of "stealth mode" in April 2019, following a $30 million Series A investment from Lightspeed Venture Partners and Bain Capital. [6] The company raised a $75 million Series B round in November 2019 and a $200 million Series C round in June 2021. [7] [4]

Moveworks initially solved employees’ IT support issues. In March 2021, the company expanded its Employee Service Platform to address issues concerning other lines of business, including HR, finance, and facilities. [9] Moveworks also released an internal communications solution that allows company leaders to send interactive messages to employees.

Moveworks was recognized as the Best Chatbot Solution at the 2021 AI Breakthrough Awards, [10] named to the Forbes AI 50 in 2019, 2020, and 2021, [11] [12] [13] and selected as one of the Most Innovative Tech Companies of the Year at the 2021 American Business Awards. [14]

Technology

The Moveworks platform comprises a multitude of specialized machine learning models, such as variants of the BERT language model. These models are trained on historical support tickets in order to process and fulfill new requests; for example, answering policy questions, accessing software, and editing email groups. As of October 2021, Moveworks is capable of resolving requests written in across 100+ languages. [1]

A central goal of Moveworks' machine learning process is to augment the "small data" of its customers. Training deep learning models often requires very large data sets; for example, millions of annotated requests for a new laptop. [15] Whereas few companies possess a sufficient quantity of such requests from their own employees, Moveworks leverages Collective Learning across many companies to make high-accuracy predictions about how to resolve a given issue. [16]

Integrations and partnerships

Moveworks has announced partnerships and co-marketing initiatives with several business communication tools, including Microsoft Teams, Slack, and Cisco Webex. [17] [18] [19]

Related Research Articles

<span class="mw-page-title-main">Chatbot</span> Program that simulates conversation

A chatbot is a software application or web interface that is designed to mimic human conversation through text or voice interactions. Modern chatbots are typically online and use generative artificial intelligence systems that are capable of maintaining a conversation with a user in natural language and simulating the way a human would behave as a conversational partner. Such chatbots often use deep learning and natural language processing, but simpler chatbots have existed for decades.

<span class="mw-page-title-main">Prezi</span> Online presentation design platform

Prezi is an American video and visual communications software company founded in 2009 in Hungary, with offices in San Francisco, Budapest and Riga as of 2020. According to Prezi, in 2021, the software company has more than 100 million users worldwide who have created approximately 400 million presentations. In 2019, they launched Prezi Video, a tool that allows for virtual presentations within the video screen of a live or recorded video. The word Prezi is the short form of "presentation" in Hungarian. As of January 2022, the company had around 300 employees in 13 countries.

<span class="mw-page-title-main">ServiceNow</span> American technology company

ServiceNow, Inc. is an American software company based in Santa Clara, California, that develops a cloud computing platform to help companies manage digital workflows for enterprise operations. Founded in 2003 by Fred Luddy, ServiceNow is listed on the New York Stock Exchange and is a constituent of the Russell 1000 Index and S&P 500 Index. In 2018, Forbes magazine named it number one on its list of the world's most innovative companies.

Slack is a cloud-based team communication platform developed by Slack Technologies, which has been owned by Salesforce since 2020. Slack has freemium and paid subscriptions. Slack's primary userbase is businesses, and has functionalities primarily for businesses.

<span class="mw-page-title-main">Mustafa Suleyman</span> British entrepreneur and activist

Mustafa Suleyman is a British artificial intelligence (AI) entrepreneur. He is the CEO of Microsoft AI, and the co-founder and former head of applied AI at DeepMind, an AI company acquired by Google. After leaving DeepMind, he co-founded Inflection AI, a machine learning and generative AI company, in 2022.

Google Cloud Platform (GCP), offered by Google, is a suite of cloud computing services that provides a series of modular cloud services including computing, data storage, data analytics, and machine learning, alongside a set of management tools. It runs on the same infrastructure that Google uses internally for its end-user products, such as Google Search, Gmail, and Google Docs, according to Verma, et.al. Registration requires a credit card or bank account details.

Feedzai is a data science company that develops real-time machine learning tools to identify fraudulent payment transactions and minimize risk in the financial services, retail, and e-commerce industries. The company has been classified as a unicorn startup since March 2021, after a Series D funding round pushed its value above $1 billion.

<span class="mw-page-title-main">Databricks</span> American software company

Databricks, Inc. is a global data, analytics and artificial intelligence company founded by the original creators of Apache Spark.

<span class="mw-page-title-main">Fuze (company)</span> American communications and software company

Fuze is a cloud communications and collaboration software platform designed for the enterprise. Fuze was acquired by 8x8. The company is headquartered in Boston, Massachusetts.

<span class="mw-page-title-main">OpenAI</span> Artificial intelligence research organization

OpenAI is a U.S.-based artificial intelligence (AI) research organization founded in December 2015, researching artificial intelligence with the goal of developing "safe and beneficial" artificial general intelligence, which it defines as "highly autonomous systems that outperform humans at most economically valuable work". As one of the leading organizations of the AI boom, it has developed several large language models, advanced image generation models, and previously, released open-source models. Its release of ChatGPT has been credited with starting the AI boom.

niki.ai Artificial intelligence company

Niki was an artificial intelligence company headquartered in Bangalore, Karnataka. It was founded in May 2015 by IIT Kharagpur graduates Sachin Jaiswal, Keshav Prawasi, Shishir Modi, and Nitin Babel.

<span class="mw-page-title-main">Synack</span>

Synack is an American technology company based in Redwood City, California. The company uses a crowdsourced network of white-hat hackers to find exploitable vulnerabilities and a SaaS platform enabled by AI and machine learning to identify exploitable vulnerabilities. Customers include government agencies and businesses in retail, healthcare and the manufacturing industry.

<span class="mw-page-title-main">Haptik</span> Indian enterprise conversational AI platform

Haptik is an Indian enterprise conversational AI platform founded in August 2013, and acquired by Reliance Industries Limited in 2019. The company develops technology to enable enterprises to build conversational AI systems that allow users to converse with applications and electronic devices in free-format, natural language, using speech or text. The company has been accorded numerous accolades including the Frost & Sullivan Award, NASSCOM's Al Game Changer Award, and serves Fortune 500 brands globally in industries such as financial, insurance, healthcare, technology and communications.

Notion is a freemium productivity and note-taking web application developed by Notion Labs, Inc. It offers organizational tools including task management, project tracking, to-do lists, and bookmarking. Additional offline features are offered by desktop and mobile applications available for Windows, macOS, Android, and iOS. Users can create custom templates, embed videos and web content, and collaborate with others in real-time.

SentinelOne, Inc. is an American cybersecurity company listed on NYSE based in Mountain View, California. The company was founded in 2013 by Tomer Weingarten, Almog Cohen and Ehud ("Udi") Shamir. Weingarten acts as the company's CEO. Vats Srivatsan is the company's COO. The company has approximately 2,100 employees and offices in Mountain View, Boston, Tokyo, and Berlin. The company uses machine learning for monitoring personal computers, IoT devices, and cloud workloads. The company's platform utilizes a heuristic model, specifically its patented behavioral AI. The company is AV-TEST certified.

LaMDA is a family of conversational large language models developed by Google. Originally developed and introduced as Meena in 2020, the first-generation LaMDA was announced during the 2021 Google I/O keynote, while the second generation was announced the following year. In June 2022, LaMDA gained widespread attention when Google engineer Blake Lemoine made claims that the chatbot had become sentient. The scientific community has largely rejected Lemoine's claims, though it has led to conversations about the efficacy of the Turing test, which measures whether a computer can pass for a human. In February 2023, Google announced Bard, a conversational artificial intelligence chatbot powered by LaMDA, to counter the rise of OpenAI's ChatGPT.

Hugging Face, Inc. is a French-American company based in New York City that develops computation tools for building applications using machine learning. It is most notable for its transformers library built for natural language processing applications and its platform that allows users to share machine learning models and datasets and showcase their work.

<span class="mw-page-title-main">Yellow.ai</span>

Yellow.ai, formerly Yellow Messenger, is a multinational company headquartered in San Mateo, California focused on customer service automation. It was founded in 2016 and provides an AI platform for automating customer support experiences across chat and voice. The platform supports more than 135 languages across more than 35 channels.

<span class="mw-page-title-main">Microsoft Copilot</span> Chatbot developed by Microsoft

Microsoft Copilot is a chatbot developed by Microsoft and launched on February 7, 2023. Based on a large language model, it is able to cite sources, create poems, and write songs. It is Microsoft's primary replacement for the discontinued Cortana.

MindsDB is an open-source virtual database which automates pipelines that connect real-time data to AI systems.

References

  1. 1 2 "How Moveworks' AI platform broke through the multilingual NLP barrier". VentureBeat. 2021-10-24. Retrieved 2021-11-09.
  2. Roof, Katie (June 30, 2021). "Workplace Chatbot Firm Moveworks Reaches $2.1 Billion Valuation". Bloomberg. Retrieved November 9, 2021.
  3. Moveworks. "Moveworks pioneers the first multilingual AI platform built to support global companies". www.prnewswire.com (Press release). Retrieved 2021-11-10.
  4. 1 2 "Moveworks raises $200M to automate enterprise IT tasks". VentureBeat. 2021-06-30. Retrieved 2021-11-09.
  5. Moveworks. "Moveworks Raises $200 Million in Series C Funding to Support Work-from-Anywhere with AI". www.prnewswire.com (Press release). Retrieved 2021-11-09.
  6. 1 2 D'Onfro, Jillian. "Moveworks Raises $30 Million To Stop Employees From Hating IT". Forbes. Retrieved 2021-11-09.
  7. 1 2 Miller, Ron (2019-11-14). "Moveworks snags $75M Series B to resolve help desk tickets with AI". TechCrunch. Retrieved 2023-02-07.
  8. "Forrester Reprint". reprints2.forrester.com. Retrieved 2021-11-09.
  9. Ray, Tiernan. "Language AI startup Moveworks expands beyond IT to finance, HR, other corporate communications". ZDNet. Retrieved 2021-11-09.
  10. "2021 Winners | AI Breakthrough Awards" . Retrieved 2021-11-10.
  11. D'Onfro, Jillian. "AI 50: America's Most Promising Artificial Intelligence Companies". Forbes. Retrieved 2021-11-10.
  12. Ohnsman, Alan. "AI 50 2020: America's Most Promising Artificial Intelligence Companies". Forbes. Retrieved 2021-11-10.
  13. Ohnsman, Alan. "AI 50 2021: America's Most Promising Artificial Intelligence Companies". Forbes. Retrieved 2021-11-10.
  14. "Company / Organization Awards | Stevie Awards". stevieawards.com. Retrieved 2021-11-10.
  15. Mani, Chithrai. "Council Post: How Is Big Data Analytics Using Machine Learning?". Forbes. Retrieved 2021-11-09.
  16. "The secrets of small data: How machine learning finally reached the enterprise". VentureBeat. 2020-10-08. Retrieved 2021-11-09.
  17. "AI-powered IT support with Moveworks in Microsoft Teams: now on AppSource". TECHCOMMUNITY.MICROSOFT.COM. 2020-12-10. Retrieved 2021-11-10.
  18. Slack. "Automating your help desk with Slack and Moveworks". Slack. Retrieved 2021-11-10.
  19. "Webex integrations: New apps added in August to Webex App Hub". blog.webex.com. 2021-08-31. Retrieved 2021-11-10.