Richpanel, a customer service platform for the ecommerce industry, has raised an undisclosed investment as part of Sequoia Capital India’s Surge with the aim to eliminate customer service tickets with an “Amazon-like” customer account section.
Founded in January 2019 and headquartered in both India and the US, Richpanel was created with the purpose of helping ecommerce companies scale business without hiring more agents. The platform allows merchants to design an account page on their online storefront where they can automate order tracking, exchanges, returns, cancellations, and any other scenario which would otherwise result in a support ticket.
While tech giants like Amazon and Uber have made massive investments to automate their purchase & post purchase flows like “where is my order” and “change trip destination”, these kinds of queries result in support tickets for every other business. They rely on a team of agents and a ticketing system to handle them, creating costs and inefficiencies. Richpanel’s platform helps these businesses launch a self-service portal on their stores, allowing customers to perform actions without ever having to contact a support agent. This means businesses can scale their operations without constantly expanding their support team.
“The first time I disputed a cancellation fee on a ride-sharing platform, I mentally prepared myself for a 15-minute-long chat with a support rep, but I was pleasantly surprised when the entire process took less than 60 seconds. This automated customer service support technology can save ecommerce businesses millions of dollars, and we felt there was a real need to productize this for everyone else,” said Amit RG, CEO at Richpanel
“At Richpanel, our goal is to help clients eliminate unnecessary support tickets. Businesses have tried chatbots, FAQs and help center solutions, but what they need is a solution that does not ‘deflect’ customers but ‘resolves’ their issues. Currently, our platform is able to resolve 40-50% of incoming queries and we will take this up to 80% over the coming months,” Amit RG added.
Richpanel is the next generation in customer service support and seeks to disrupt the help desk software market as well as customer care outsourcing services, where businesses are expected to spend $110b by 20241.
The platform provides a seamless experience for both visiting customers and businesses to handle cases where customers need to speak with a human. The ‘agent inbox’ helps brands manage all their support channels – email, live chat, social media & phone – from one place. The integration with ecommerce platforms help agents see complete purchase history, take order actions and respond to customers from one screen.
Clients such as US-based apparel company Pawz.com are seeing positive results with Richpanel. “As one of Richpanel’s early adopters, we have been extremely happy with the platform and the team’s ability to deliver well on projects. Currently, our self-service flows powered by Richpanel are able to close nearly 60% of all incoming queries or tickets, without the need to interact with an agent,” said Julian Quintaes, CEO at Pawz.com.