Israeli connected-home experience startup Veego raises $13M
Israeli connected-home experience startup Veego Software Ltd. said today it has raised $13 million in new funding to enhance its machine learning models.
Magenta Venture Partners led the Series A round. Other investors included State of Mind Ventures, Robert Bosch Venture Capital GmbH, North First Ventures and Amdocs Ventures.
Founded in 2018, Veego is aiming to become the world leader in visibility, customer experience and insights into connected devices. The company uses machine learning, artificial intelligence and other technologies to overcome challenges facing communication service providers, content providers, device and service vendors, and other data consumers.
Veego’s platform taps into data from home routers, hubs and extenders to deliver unique, real-time services from the cloud, the company said. Those services include accurate fingerprinting, classification and measurement of the performance and behavior of each connected device and service in every home, and user experience.
The platform automatically detects problems and behavior anomalies that affect the quality of experience, analyzing the root cause anywhere along the service-delivery chain. The idea is to resolve problems even before the user encounters them.
Veego enhances internet service provider customer care with auto-resolution of problems, subscriber self-care and prompt delivery to CSRs of assessment and affection action recommendations. Those recommendations assist in deflecting and shortening support calls, reduce truck rolls to customer premises to fix issues, and eliminate unnecessary hardware replacements.
Application of the company’s platform can include ascertaining the root causes for a number of problems. Examples include streaming breaks, low-resolution video, poor audio, gaming latency, dropped Zoom calls and other connected home problems. Those issues can be identified and rectified before they occur. In many cases, Veego can automatically resolve issues in seconds.
“In a post-pandemic world, the Connected Home takes increased importance as a place of work, study, and play,” Ran Levitzky, co-founder and general partner at Magenta Venture Partners, who is joining the Veego board of directors, said in a statement.”End-users are expecting ubiquitous customer experience to support their use of a variety of applications, while CSPs are mostly blind to the in-home customer experience.”
Including the new funding, Veego has raised $18 million to date, according to data from Crunchbase.
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