Afiniti

Afiniti Ltd., also called Afiniti,[3] is an American multinational data and software company. Founded in 2005, Afiniti is focused on developing artificial intelligence for use in customer call centers.[2] Afiniti is a unicorn company with a valuation of $1.6 billion in 2017.[2][4]

Afiniti
TypePrivate
IndustrySoftware development
GenreArtificial intelligence
Founded2005 in Washington, D.C., United States
FoundersZia Chishti
HeadquartersHamilton,
Bermuda
Area served
Worldwide
Key people
Zia Chishti (CEO)
Thomas Inskip (CCO)
Hassan Afzal (CTO)
Phil Davis (CFO)[1]
Total equityUS $1.6 billion[2]
Number of employees
1,000[2] (2018)
Websiteafiniti.com

History

2005–2016

In 2005, Afiniti was founded in Washington, D.C. by Zia Chishti, a former Morgan Stanley investment banker who had previously co-founded Align Technology, with the help of his partners at The Resource Group (TRG), Hasnain Aslam and Mohammed Khaishgi of the Kheshgi family.[2][5] In 2008, the company submitted several patents related to matching caller data with computer models, which were granted in 2014.[6] In late 2016, the company confidentially filed for a potential future initial public offering (IPO).[4][7][8] Around that time, Afiniti also introduced software to run phone numbers "through a variety of databases prior to when a call center agent picks up the phone." The system referred to around 100 databases to gather information on callers, including from public profiles such as Twitter. According to Fortune, the system operated on "the idea that it's possible, using thousands of call records, to determine which agents perform best with certain type of customers."[9]

2017–2018

According to The Wall Street Journal, by January 2017, the company had installed its artificial intelligence software in around 150 call centers for several dozen companies,[3] among them Caesars Entertainment Corporation and Sprint.[9] In 2017, the company closed a fourth round of venture funding,[4] bringing in $80 million[10] from investors such as GAM, McKinsey & Co, Elisabeth Murdoch, and John Browne. The round brought the company's total funding raised since its inception to $100 million.[4][11] Afiniti signed a deal with Huawei in September 2017[12] and Avaya in April 2018.[13]

In January 2018, Fortune included Afiniti on its list of the 100 companies "leading the way in A.I."[14] By June 2018, Afiniti had been active in 18 countries and had 1,000 employees.[2][8] According to Chishti, the company saw 100 percent revenue growth each year between 2013 and 2017.[2]

Services and technology

According to the company, its software uses AI to boost company's efficiency by "predicting interpersonal behavior"[11] between the callers and agents.[2] VentureBeat explains that "when a customer calls into a call center, Afiniti matches their phone number — either landline or cellphone — with any information tied to it from up to 100 databases. These databases carry purchase history, income, and other demographic information."[10][4][15] Data on customers is collected from the customers and from data brokers. Afiniti does not charge for the software or service itself, but instead takes a percentage of any proven revenue increases resulting from use of the software.[2]

See also

References
  1. "Management". Afiniti. Retrieved November 28, 2018.
  2. "Meet D.C.'s little-known artificial intelligence firm — and its plans to go public". www.bizjournals.com. Retrieved 2018-10-11.
  3. Ryan Knutson (January 10, 2017). "Many Call Centers Know a Surprising Amount About You". The Wall Street Journal. Retrieved December 10, 2018.
  4. Matt Marshall (April 14, 2017). "Sales AI company Afiniti valued at $1.6 billion, files for IPO". VentureBeat.
  5. "Born in the US, raised in Pakistan: Man who founded two billion-dollar companies | The Express Tribune". The Express Tribune. 2017-12-07. Retrieved 2018-10-11.
  6. "History". Afinity. Retrieved December 10, 2018.
  7. www.bloomberg.com https://www.bloomberg.com/news/articles/2017-01-24/ai-firm-afiniti-said-to-weigh-ipo-at-about-2-billion-value. Retrieved 2018-10-11. Missing or empty |title= (help)
  8. Mergermarket. "Top 30 Tech Exits To Watch In 2018". Forbes. Retrieved 2018-10-11.
  9. Jeff John Roberts (January 10, 2017). "How Companies Use Your Social Media Data When Taking Your Call". Fortune.
  10. "Sales AI company Afiniti valued at $1.6 billion, files for IPO". VentureBeat. 2017-04-14. Retrieved 2018-10-11.
  11. "This company founded by a Pakistani is valued at $1.6 billion". The Express Tribune. April 16, 2017. Retrieved December 10, 2018.
  12. Faseeh Mangi (October 2, 2017). "Tycoon Takes Investors Heli Skiing to Show Them Pakistan's Safe". Bloomberg. Retrieved December 10, 2018.
  13. "Avaya and Afiniti Partner to Bring Unique and Proven, AI-Driven Behavioral Pairing to the Contact Center". Avaya. April 24, 2018. Retrieved December 10, 2018.
  14. "These 100 Companies Are Leading the Way in A.I." Fortune. January 8, 2018. Retrieved December 10, 2018.
  15. Knutson, Ryan (2017-01-06). "Call Centers May Know a Surprising Amount About You". Wall Street Journal. ISSN 0099-9660. Retrieved 2018-10-11.
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