The AI-based platform Agara is now owned by Coinbase

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Coinbase-Agara: toward the provision worldwide costumer supportservice

Coinbase, one of the world’s leading cryptocurrency exchanges, made an announcement according to which it was acquiring Agara. In fact, Agara is an Indian artificial intelligence-based customer support platform. According to the company’s blog post, the acquisition of this platform reinforces its commitment to provide world-class support for customers.

Simultaneously, it also aims at bringing Agara’s expertise in machine learning (ML) and natural language processing (NLP) to Coinbase’s engineering team. The company underlines that the acquisition of Agara is an important step in establishing the company’s technology center in India. In this perspective, it hired Pankaj Gupta as the vice president of engineering and site lead for the country. 

More employees for more support options to client

In fact, it is important to know that Coinbase increased the number of support staff by 5 times in the last few months. It announced that it will offer 24/7 phone support and live messaging by the end of the year. Moreover, it plans to use the Agara’s “Deep Learning” and “Conversational Artificial Intelligence” technology. Through this, it is expecting to automate and improve customer experience (CX) tools. This because through this acquisition, the company expects to be able to offer its customers new personalized, smart and real-time support options.

7 million dollars of investment so far

Agara, which currently serves in the USA, was founded in India four years ago. Until now, it has received an investment of 7 million dollars from Blume Ventures, RTP Global, UTEC Japan and Kleiner Perkins. It has expertise in machine learning and natural language processing, which she uses to enhance the user experience. Likewise, it employs more than 40 people and brings together several large customers around the world. Not only that, it also integrates with a number of popular services such as Salesforce, Shopify and Twilio.

Though, no information about the financial details of the purchase was shared. However, some media reports suggest that it is amounted of about $40 million.

Furthermore, in the statement made by Coinbase, it explains that the acquisition is subject to traditional closing conditions and is expected to close within this year.

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