Strategic investor Engage, the innovative corporate venture initiative from category-leading corporations like Coca-Cola, Delta Air Lines, Cox Enterprises, Inspire Brands and The Home Depot, also participated in the round.
Canvs AI’s mission is to enable empathy by putting the power of understanding consumers' feelings in the hands of every business. The capital will accelerate product development, customer success and further go-to-market expansion. Fortune 500 companies like CVS, Disney, Church & Dwight, ABInbev and Netflix use the Canvs AI Platform daily to analyze unstructured feedback from both consumers and employees. They report that their research productivity increases 20x while deepening their understanding of key stakeholders in their business.
“Brands are already sitting on a mountain of feedback collected from their survey tools, customer support chats, interview transcripts, reviews and social media,” says Jared Feldman, Canvs AI Founder and CEO. “But it’s incredibly inefficient—if not impossible—to generate meaningful insights from it. Canvs allows insights, customer experience and HR leaders to unlock significant business value for their organizations by turbo-charging time-to-insights and empowering empathetic decision-making.”
The world’s leading companies have long understood the value of empathy to drive loyalty and boost customer lifetime value. However, most consumer feedback is trapped in noisy, open-ended responses, fragmented and siloed across dozens of different sources. Canvs AI unlocks critical insights in unstructured feedback from virtually every source, using a combination of patented, natural-language algorithms and a newly released generative AI co-pilot, AI Story Assist™, that presents users with an automated narrative about their data. Canvs AI has pioneered the ability to investigate data with plain-language questions, and produce easily understood and quantifiable metrics into emotional reactions. Over the last year alone, Canvs has analyzed over 850 million pieces of open-ended text from surveys, social media and online comments on behalf of its brands.
“Unstructured data has long been a challenge for businesses due to the intricacies of natural language, the sheer volume and diversity of data, and the absence of standardized formats. Yet, its importance for understanding consumers has never been more vital nor valuable,” said Philip Lewis, a partner at Fulcrum Equity Partners. “That’s why we’re so excited about both the opportunity space and the opportunity for Canvs AI to address this widespread issue.”
“I look forward to accelerating our mission of enabling empathy and consumer understanding to businesses worldwide alongside Fulcrum Equity Partners. They have shown trust in our vision for the future of consumer insights and for the amazing team that has built Canvs AI to where it is today,” Feldman added.
“While the last few years have been challenging for many growing software companies, Canvs has maintained a relentless focus on their mission and the resourcefulness to deliver,” said Kyle York, managing partner of advisory & investment firm York IE and Chairman of the Canvs AI Board of Directors. “I couldn’t think of a better equity partner than Fulcrum, who have a track record of supporting their operating teams with capital and operational best practices.”
For more information about the announcement, including customer use cases and key benefits, please visit https://canvs.ai/funding.
Fulcrum Equity Partners is an Atlanta-based growth equity firm that gives entrepreneurs the capital and hands-on support they need to take their companies further, faster. Fulcrum invests in healthcare services and B2B tech executives searching for $5 million to $30 million of equity in minority and majority growth opportunities. Fulcrum's partners believe in building businesses the right way, meeting teams where they are, and helping them imagine a bigger and brighter future by building the right systems, processes, teams, and culture. All of that starts with the right experience, the right support, and the right relationship. Learn more at http://www.fulcrumep.com.
About Canvs AI
Canvs AI is the leading insights platform for transforming open-ended consumer feedback into actionable business intelligence using advanced, AI text analysis. Canvs is used by some of the world’s most admired brands to accelerate time-to-insights, reduce cost, and deepen their understanding of consumers. For more information or to request a customized demo, please visit https://canvs.ai or email [email protected].