Cision PR Newswire
Assembled Raises $51 Million led by NEA to Accelerate Workforce Management Platform
News provided byAssembled
May 26, 2022, 9:00 AM ET
Funding will bolster company's ability to assist leading companies across industries craft efficient, world-class customer experiences
SAN FRANCISCO, May 26, 2022 /PRNewswire/ -- Assembled, the leader in workforce management for modern support teams, today announced it has closed $51 million in Series B funding, which reflects a more than 5x valuation increase in just one year. The financing was led by global venture capital firm New Enterprise Associates (NEA), with participation from existing investors Emergence Capital and Basis Set Ventures. The new infusion of capital will be used to accelerate product development and hiring while the company continues to scale its platform for enterprise customers. Vanessa Larco, Partner, NEA and Hilarie Koplow-McAdams, Venture Partner, NEA will join Assembled's board of directors in conjunction with the financing.
Assembled's workforce management platform helps support teams at the world's fastest-growing companies efficiently respond to customer demand through accurate forecasting, automated scheduling, and robust realtime and historical reporting. Says co-founder and CEO Ryan Wang: "For many of our users, support is the biggest roadblock between mission and reality. Why is support so hard to get right? We believe it's because operational issues and people issues rhyme, and that's what we're out to solve."
Given the unprecedented size of support teams—often 20-50% of a company's total headcount—and prevailing trends like the gig economy, distributed work, and staffing shortages, there's never been a more critical time for companies to invest in the operational infrastructure that balances quality and efficiency. "Historically, customer support tools have prioritized outcomes over people," continued Wang. "Today, there's a recognition—an imperative, really—that these can't be mutually exclusive. We're building tools that simultaneously enable world-class agent experiences and customer experiences, which furthers our conviction in empowering the hard work behind the big mission."
In the past year, Assembled has achieved several significant growth milestones, including:
- Growing revenue by 5x while also delivering a 200+% NRR (net revenue retention)
- Tripling its customer base, with notable new customers including Zoom, Brooks Running, Asana, Wynn, Color Genomics, and Restaurants Brands International
- Building out leadership in Sales, Marketing, Partnerships, and UX with SaaS veterans from Shopify, Atlassian, Flexport, and Stripe
- Growing the Assembled team by 5x
- Launching several new product updates, including a revamped scheduling experience, agent scorecard, and algorithmic scheduling automations
- Forming additional strategic partnerships with leading CX companies, including UJET, Five9, and MaestroQA
Says Kara Allen, Head of Mass Market Support at Zoom: "At Zoom, we're obsessed with delivering customer happiness. That extends beyond the product into our overall service—we earn our customers' trust in every interaction by showing up in an empathetic way when they need us. Assembled's platform helps us forecast, plan, and staff so that on a day-to-day basis, every interaction with Zoom is a delightful one."
"Assembled has been on our radar for a while, and we've had the benefit of witnessing their outsized impact while working closely with several of their customers," said Vanessa Larco, Partner, NEA. "The company has grabbed a hold of a massive opportunity to help companies manage their support workforce amidst the rise of distributed work, the Great Resignation, and higher-than-ever consumer expectations. Hilarie Koplow-McAdams, Venture Partner, NEA added: "The Assembled team is composed of experienced and talented engineering leaders who care deeply about addressing the increased complexities of support management, and are focused on providing easy-to-use, data-powered tools. They are pioneers in the workforce management space and we're thrilled to partner with them on the journey to empower customer support teams globally."
In addition to the funding announcement, Assembled is also launching a new initiative called CX Scholars, which commits a percentage of annual revenue to the continued education of those in the support and WFM community. This program is designed to encourage rising CX leaders to learn business fundamentals and other skills that can help accelerate their careers while also benefiting their teams. "The CX community is full of empathetic, wildly curious, and creative people who aren't often given the chance to think beyond the support queue. CX Scholars was created to give them the time and resources they deserve to focus on professional development," says co-founder and CTO John Wang.
About Assembled: Assembled is the operational backbone of the modern support team. The company's workforce management platform facilitates the planning and logistics needed to reliably deliver efficient and empathetic support. Assembled is trusted by the fastest-growing companies in the world, including Stripe, Zoom, Etsy, and Intuit, to use staffing intelligence to craft world-class customer experiences.For more information, visit: www.assembled.com
About NEA: New Enterprise Associates, Inc. (NEA) is a global venture capital firm focused on helping entrepreneurs build transformational businesses across multiple stages, sectors and geographies. With nearly $24 billion in cumulative committed capital since the firm's founding in 1977, NEA invests in technology and healthcare companies at all stages in a company's lifecycle, from seed stage through IPO. The firm's track record of investing includes more than 260 portfolio company IPOs and more than 430 mergers and acquisitions. www.nea.com