Netomi raises $110M with Accenture and Adobe to deploy AI agents across Fortune 500 customer experience

Speaker 1: He he runs

Speaker 2: he runs he has he has a he has a AQR.

Speaker 1: Oh, AQR. Yeah. Interesting. Anyway

Speaker 2: Very, very funny.

Speaker 1: I believe we have our next guests in the waiting room. Let's bring them in to the TBPN Ultra Dome. Natomi Wonderco, welcome to the show. Would you mind both kicking us off with some introductions on each of you?

Speaker 13: Yeah. Of course. Hey, Jordy, John. Great to see you both.

Speaker 1: Good to

Speaker 3: see you.

Speaker 13: So Justin Wexler, one of the general partners at Wonderco, working closely with Jeffrey Katzenberg. Yeah. And and you've met all of us. Yeah. Yeah. Sujay, Chen Lee, Jeff, Anthony. So it's been an amazing run. I've been with the firm since early twenty seventeen. Cool. And also on the board of Natomi.

Speaker 1: Okay. So yes, please introduce Natomi. Yeah.

Speaker 10: Adam, great to see both of you. My name is Puneet. I'm the founder CEO of Natomi. We are an agentic application tier company focused on the customer experience use case.

Speaker 1: Okay. What what specifically in customer experience? Is that different than customer service or are we doing surveys to understand how companies are and products are being received all of the above? What's the shape of the business today?

Speaker 10: Yeah. We look at customer experience a little bit differently than how most, companies in AI have have looked at this. So if you if you think about it historically, businesses were designed as a sales, as marketing, as customer service Yeah. Because that's how the customer journeys were created and they had to keep those silos to keep cost efficient. But, you know, with, with the GenTeck, now, you know, there's a resource that has become abundant. You could apply it through the journey. That's what we are doing. And also, one of the key factors is if you think about traditional customer service, it looks at customer journey, then it says we'll wait for something to break and then fix it after the fact. Mhmm. And then hopefully, we regain that trust. We are saying, hey, you got you you can address this upstream. You can address this in digital experiences. You don't even have to wait for the problem to occur. So that's what we are doing and that's why we are excited to partner with, Extension and Adobe in this financing that we just announced and, we're gonna do this for all the Fortune 500.

Speaker 1: Talk about the decision to go with enterprise versus small business. Was it ever on the table to go broader self serve, or is this is there something unique about the technology where you're it's actually more suitable for enterprise use cases right now, or is that just your personal DNA where you flourish?

Speaker 10: Actually, all of the above. So Mhmm. My personal DNA, I I grew up in automated trading, building event engines for for different firms on Wall Street. You're born in the enterprise.

Speaker 1: I like it.

Speaker 10: Born in the enterprise. Exactly. Born in the enterprise, born in low low latency systems, born in event correlation, all of those things that just came together for this. But also we looked at where is money getting spent for this problem. So if you look at this broadly, human capital spend is about $500,000,000,000 a year. Mhmm. About 75% of that comes from the world's largest enterprises, literally under a thousand companies. Right? Mhmm. So that's how fragmented the market is. And now with, Natomi's technology, you know, you could run the autonomous front office. So when you do that, not only is that a cost efficiency which more than pays for itself, it really transforms the entire company because you can connect all the systems processes right in those agentic flows and then that sanctioned architecture presented safely to your customers. So yes, love that medium to high complexity, love the enterprise complexity comes in the DNA. That's what we are the words best at.

Speaker 13: Yeah. And just to add Yeah. To So at Wunderco, as you all know, we invest in consumer, we invest in different areas of technology, but a big focus for us is enterprise and how enterprise is going to evolve with technology, particularly AI technology. I'm fortunate that I work with Jeffrey who has a lot of great relationships across enterprise and thinking through how to apply agentic capabilities in these organizations is very top of minds. We invested in Puneet actually before this AI paradigm of ChatGPT and everything that we know today. And so we've been a little early to this, but knew Puneet's DNA as these advances became more prominent was really the right leader to build for large enterprises. And so with Puneet, we sat down with leaders at Delta, United, MetLife, who have all had huge success deploying Natomi. A big proud moment for us is when the yeah. No. It's it's pretty incredible. Anyone could go on the United mobile app and see powered by Natomi interacts with with Natomi. And then earlier this year, OpenAI recognized Natomi on one of the case studies, calling it the blueprint for deploying large scale GenTick AI. So it just had a lot of great moments over the last couple of years. And that's what inspired Puneet and me to really sit down and think about, okay, this has been proven at scale, but what's the coalition around this technology that would really allow it to be in the hands of many, many more millions of consumers? And so that's why this rounds brings together Accenture. No one knows enterprise complexity better than them and their seal of approval on this company is is is a huge sign to enterprises that this is what they should be deploying. Yeah. Absolutely. And then with Adobe, the idea with Adobe is, you know, many times chat interfaces sit on top of websites. Mhmm. And while it's a step above prior technology, the next generation is going to bring those capabilities into the digital layer itself. So not having the website and then the chat disconnected on top, but fusing these two layers. And the work that Natomi and Adobe are doing together, and we can talk a bit more about it, is going to bring about a gentic digital experience.

Speaker 1: Sure. Tell us about the round. I wanna hit the gong. How much came together for this deal? What's the total?

Speaker 4: Go ahead.

Speaker 10: We raised a $110,000,000.

Speaker 2: There we go. Awesome. Damn. Well, that shook the whole room, John.

Speaker 1: Want to It's a good one. Look

Speaker 3: at this light.

Speaker 10: Yeah. Yeah. We we are we are here to shake the

Speaker 9: room. Fantastic.

Speaker 10: So so yeah. All all focused towards enterprise deployment, all focused towards the last mile of AI. You know, we think AI really needs a big enterprise win that's ROI positive where large companies can go on their earnings call and say, this is what AI did for me. That's what we want to deliver