Coinbase acquires Indian AI company to improve their customer service

Coin base, the largest cryptocurrency exchange in the United States, is working to improve its customer service while expanding in India through the acquisition of a new startup.

Coinbase officially announced the acquisition of Agara, an artificial intelligence-based support platform, on Tuesday. with offices in India and the USA.

The acquisition aims to expand and automate Coinbase’s customer support capabilities and bring new machine learning and natural language tools to the Coinbase engineering team.. The agreement also confirms the company’s strategy to expand its technology center in India.

Coinbase acquires Indian AI company to improve their customer service
Coinbase acquires Indian AI company to improve their customer service

The acquisition of Agara will cost Coinbase between $ 40 million and $ 50 millionThe technology journal TechCrunch reported on Monday, citing anonymous sources familiar with the matter. Apparently, The two companies hope to close the deal later this year.

Founded in 2017, Agara works on machine learning and natural language processing to improve the user experience. With around 40 employees, Agara has won major customers such as the cloud software company Salesforce and the large e-commerce company Shopify.

According to Pankaj Gupta, Coinbase’s chief operations officer in India, Agara’s technology team is will unite to Coinbase as part of the takeover. Agara co-founder Gupta hopes the purchase will be beneficial for Agara and Coinbase. “It’s amazing to see my worlds collide here with Agara, a startup that I co-founded in early 2017 but then switched to Google,” he said.

Agara co-founder and CEO Abhimanyu found that the company was also able to integrate its technology stack into telephone communications with customers. “Some of the most complicated things we do are related to phone calls. We have worked to automate much, if not all, of the telephone assistance. “, called.

Coinbase did not immediately respond to Cointelegraph’s request for comment.

Coinbase’s recent efforts to improve its customer service stem from the company struggling to provide adequate customer service. In mid-October, Coinbase users reportedly criticized Coinbase’s new telephone support line; Users claimed it was a “joke”. Before, The exchange came under fire for poor customer service in August when users complained about hacked accounts and lost assets.

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