Moveworks Raises $30 Million To Stop Employees From Hating IT
Summary
Few experiences better illustrate the tiresome banality of corporate life than filing an IT request for something as simple as software access or a password reset and then waiting hours—or even days—for a resolution. The three-year-old firm is coming out of stealth mode on the heels of a $30 million Series A investment from Lightspeed Venture Partners and Bain Capital with a product that can automatically complete a range of tech support chores like unlocking accounts or managing email lists. Enterprise automation—wherein human workers outsource repetitive, tedious business tasks to software—has taken off thanks to advancements in areas of artificial intelligence like natural-language understanding and machine learning. Cofounder and CEO Bhavin Shah tells Forbes that Moveworks used 20 million real IT tickets from half a dozen enterprises to train its artificial intelligence models, which can now autonomously deal with tasks like helping workers order new hardware or obtain a software license. Arif Janmohamed, the partner at Lightspeed who led Moveworks’ seed and Series A fundraising rounds, says that he has faith in the tech chops of the founding team to do just that.
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