IT support has plagued enterprises for years. And for good reason: existing solutions haven't changed for almost two decades. Employees typically either send an email or navigate to an archaic web portal to file an IT ticket and endure long wait times (often days). Employees get frustrated. IT staff gets overburdened. Productivity gets drained.
What's interesting is that the syntax behind IT support tickets hasn't changed much over time: "I can't seem to reset my salesforce password?"; "My laptop screen got cracked"; "My email is not working." This commonality creates an ideal environment for applying AI to interpret and resolve IT support tickets. Rather than track IT issues, an IT service desk could conceivably remediate issues without human involvement. With that we are excited to announce our partnership with Moveworks.
Moveworks is an AI platform that autonomously resolves IT support issues. It responds on behalf of enterprise IT departments to the most common, industry-wide problems, and gets smarter with each interaction. The platform takes just days-to-weeks to stand up and delivers immediate value out-of-the-box (upwards of 35% ticket resolution). No employee training or maintenance is required — "It's like magic".
This translates into a radically better employee experience. IT requests are addressed in a fraction of the time, while IT professionals are freed to focus on higher-value tasks - the combination of which has attracted rabid customer love.
Today, Moveworks has become the market leader in IT support automation working with global enterprises such as Western Digital, Broadcom, Medallia, Nutanix and Autodesk. Yet in many ways, we believe the company is still in its first inning. As machine learning continues to remove the cognitive load of engaging with enterprise systems of record, we believe Moveworks has the potential to become the main interaction model for a broader set of enterprise workflows. IT is just the start.
Our relationship with Bhavin Shah, CEO and co-founder of Moveworks, goes back to his prior startup, Refresh. We were fans of the magical moments Refresh provided to its users (including us), and LinkedIn took notice and acquired the company. We kept in touch with Bhavin and Vaibhav Nivargi, CTO and co-founder (also a former KP founder), and got to see them build out their founding team with Varun Singh and Jiang Chen, hire some of the best engineers, and build an incredible product that is loved by its customers. Everything they said they would do, they have done — and faster than we thought.
We are thrilled to lead Moveworks' Series B and welcome Bhavin, Vaibhav, Varun, Jiang and the rest of the Moveworks team to the Kleiner Perkins family.
Now, about that password reset…
- Josh Coyne and Mamoon Hamid