(Bloomberg) -- Chat bot startup Ada Support Inc. said it has raised financing at a $1.2 billion valuation.
The $130 million investment was led by Spark Capital, with participation from Tiger Global Management and existing investors including Bessemer Venture Partners, Accel and FirstMark Capital.
Toronto-based Ada works with clients such as Facebook Inc. and Zoom Video Communications Inc. to help them interact more efficiently with users through automated chat boxes. Its bots rely on artificial intelligence to answer customers' sales and service questions. The bots, for example, can help customers return packages or change flights.
Ada's momentum has been partly boosted by the coronavirus pandemic because “a lot of customer interactions moved online,” said Yasmin Razavi, general partner at Spark Capital. Razavi said she expects that growth to continue.
Ada describes its technology as a no-code platform, meaning it doesn't require significant technical skill to implement. That ease of use has contributed to the company's growth, said co-founder and Chief Executive Officer Mike Murchison.
Ada is part of Canada's growing technology community, which has seen valuations rise for startups such as law firm software maker Clio and investment-management platform Wealthsimple Inc.
“I care deeply about Shopify not being the only Canadian tech company the average person has heard of,” Murchison said.
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