What is Alloxentric?
Alloxentric is a communication software company that integrates voice, text and artificial intelligence to design the best contact strategies in an automated, multi-channel and low-cost way. Its omnichannel and modular communications platform harnesses artificial intelligence, allowing companies to optimise and improve communication with their customers, in their local language and accent. Alloxentric currently operates in Chile, Colombia, Mexico and Peru. This platform, with close to 1,000,000 contacts per day, enables customers to coherently reach their clients through up to date messaging tools such as WhatsApp and Telegram. This is all being done via natural language understanding (NLU), localised to each specific region and dialect, with adequate response times.
Who is behind it?
Max Kreimerman (CEO) - Max has more than 25 years of professional experience, of which 21 have been running and developing businesses in the LatAm region and US. Over the period, he has led 3 companies, developing the technologies and operational capabilities that have allowed the sale or merger of these companies with other corporations. The business currently operates in Chile and Mexico and Max has built the network to facilitate and accelerate growth for Alloxentric in the future. We have spent a considerable amount of time getting to know Max and his team and are excited to join him along the journey in building Alloxentric.
Max is an industry veteran in the Latin American software world. Max's first executive role was as CTO in Mercanil company. Mercanil was the first B2B portal in Latin America, and he was responsible for training the technology area, collaborating in the definition of the product and in leading operational expansion to Argentina, Brazil and Peru, as well as Chile. This company was acquired by the EMOL media group and the VTR cable television company. Max later became CTO of Certifica which COMSCORE subsequently acquired. Finally, in 2000, Max founded Netprovider, an information security company that he exited in 2016. Now with Alloxentric, Max's vision is to disrupt the customer service space by providing a platform that is cheaper than it's competitors and enables more personalisation. We are glad to be championing the businesses in the coming years and working with Max to take on markets beyond Latin America.
The size of the overall market, especially in the latin America region where they are currently operational, is particularly big. Given this, the rate of growth and traffic is looking very good for Xentric so far. Having processed over 800,000 customer interactions through their platform, there is a lot more room for rapid growth, especially in larger markets such as Mexico and Brazil. The traction to date has led AlloXentric to achieve $30k MRR in just 9 months since launching their platform-as-a-service software.
Latin America, Chile: This is the first market that Xentric is exploring, based on the network of contacts:
- With a population of 18 million people who speak Spanish (with no areas with significantly specific regional accents)
- The Chilean market has five large contact centres (two of which are Alloxentric clients),
- Another 15 medium sized ones (one of which is an Alloxentric client).
- 20 potential bank clients, over a hundred financial companies, 30 retailers and about two hundred other potential clients in industries relevant to Alloxentric.
AlloXentric has expanded operations to Mexico and plans to expand to Colombia and Brazil towards the backend of 2021.
Customer Service Communication is awful. The customer service industry is ripe for change. There is a lot of waste, customer effort and misery, and not enough thought about the experiences we create for customers. People generally hate contacting customer service and it is extremely difficult for large enterprises to keep track of sentiment and improve communications for their customers.
Size of the Customer Service Market: $350bn
Size of Global RPA Market: projected to grow to $6.1bn by 2027
Alloxentric strategy is to focus on the high population emerging markets. These markets have huge volumes of communications, are struggling to reduce costs and have a significant instability in their Internet connections. These areas have also been very under-served in regard to customised voice and NLU.
We are excited to be partnering with Alloxentric on this journey to disrupt customer service communications in the LatAm region and beyond.
Max have yet to decide on their charity. We will update you on this in due course.
Alloxentric was an SEIS investment. The company raised a total of £200,000 and the round was led by RLC Ventures with no outside participation.
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