36氪 First | AI SaaS service provider "Leyan Technology" completed hundreds of millions of yuan in D round of financing, led by CICC Capital and Shanghai Artificial Intelligence Industry Investment Fund

36氪 First | AI SaaS service provider “Leyan Technology” completed hundreds of millions of yuan in D round of financing, led by CICC Capital and Shanghai Artificial Intelligence Industry Investment Fund

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On April 25, the e-commerce AI SaaS unicorn “Leyan Technology” announced the completion of the investment led by CICC Capital’s funds, Shanghai Artificial Intelligence Industry Investment Fund, and old shareholders Amoeba Capital, Yunfeng Fund, Ivy Capital, Zhongwei Capital, Blue Lake Capital, Cloud Nine Capital, Chuxin Capital, and Prancing Horse Capital jointly invested hundreds of millions of yuan in Series D financing.

Up to now, Leyan Technology has completed 8 rounds of financing, and received 4 financings in the last year.

Leyan Technology was established in 2016 and is an e-commerce AI SaaS service provider. It combines AI technologies such as natural language processing (NLP) and deep learning with e-commerce services and marketing scenarios to provide e-commerce merchants with a full-link intelligent solution for service marketing.

Nowadays, the consumption pattern is changing, and domestic products are in the best era of development. The speed of new brands from 0 to 1 is getting faster and faster, and the form of corporate organizational structure that supports brand development is ushering in tremendous changes.

In order to retain customers and expand brand influence, merchants frequently carry out large-scale promotion activities through a variety of marketing methods such as online celebrity delivery and Douyin Kuaishou marketing. Explosive traffic has only appeared in marketing activities like Double Eleven, and may appear every month or every week, which poses a challenge to the business’s ability to operate.

The number of customer services provided by the electrician businessmen is limited in terms of reception capacity, unable to handle the influx of traffic, and service problems occur. In addition, traditional customer service has the pain points of needing to respond to a large number of repetitive questions, low work efficiency, and high mobility of customer service and unstable service.

Facing the new competitive environment, companies need more efficient customer service operations, focus on existing customer operations, and create a high-quality customer service experience to better attract, transform and retain customers.

Leyan Technology can provide merchants with e-commerce AI full-link services from marketing to customer acquisition to service, providing intelligent advertising, building accurate user portraits, intelligent marketing of customer service robots, and intelligent customer service operations.

Leyan Technology Solutions

At present, Leyan Technology has a total of 5 mature products:

  • The e-commerce intelligent customer service system “Happy and Helping” can simulate the gold medal customer service response logic and perform buyer consultation and reception, business problem handling, intelligent recommendation, customer relationship maintenance, etc., which can greatly improve the per capita reception efficiency and marketing conversion rate of customer service.
  • The intelligent advertising system “Light Search” can mine product attributes, accurately provide customers with product categories, and help stores increase ROI and GMV.
  • The cross-platform intelligent customer service robot “Speak Accurate” can be applied to Kuaishou, Douyin, Suning, and Xiaohongshu platforms. It can quickly and accurately respond to buyer inquiries and increase store response rates; it is online 7×24 hours to reduce customer service labor costs.
  • The intelligent customer service quality inspection system “Speaking Review” can realize the identification of customer service quality inspection defects, help merchants standardize customer service behavior, and improve the quality and efficiency of customer service team service.
  • The customer intelligent marketing management system “Le Pin Ke” can automatically execute marketing plans based on accurate crowd tags, and do different marketing strategies to help stores achieve refined operations, promote new customers to place orders, and increase the repurchase rate of old customers.

Through the above products,Leyan Technology can save customers customer service costs by an average of 60%; increase the traffic conversion rate and increase the GMV of the entire store by an additional 15%; improve the quality of service, and the first response time is only 0.5 seconds. 

Currently,Leyan Technology has over 40,000 customers, Has served well-known customers such as Li Ziqi, Zhong Xuegao, Wangwang, Baicaowei, Mousse Mattress, By-Health, Yuyue Group, Kids King, Septwolves and other well-known customers, covering all e-commerce categories.

In terms of business model, Leyan Technology adopts a 2B SaaS model to make profits through mass production of standardized products and collect service fees on an annual basis.

In terms of profitability, after Leyan Technology officially started the commercialization of a new generation of intelligent customer service robots in April 2017, its sales revenue reached tens of millions of yuan in that year, and its annual revenue in 2018 was over 100 million yuan, and it continued to maintain revenue growth several times each year. .

Leyan Technology has algorithm advantages. It is the first to apply NLP and other cognitive intelligence technologies in the field of e-commerce. It has pioneered a variety of AI software in the industry, accumulated a large amount of algorithm research experience and corpus, and can provide more accurate intelligent customer service responses and achieve “thousands of people” “Thousand Faces” intelligent marketing.

In addition, Leyan Technology has a customer team of more than 100 people, which can quickly respond to customer needs and provide better landing service capabilities.

In terms of the team, Dr. Libin Shen, the founder and CEO of “Leyan Technology”, has been engaged in natural language processing professional research and product development for more than 20 years, and is the creator of a number of international leading artificial intelligence systems; co-founder and COO Zhao Xingbin used to be Taobao The general manager of Tianxia Business Department has accumulated many years of experience in the field of e-commerce.

Funds from this round will be used to invest in product research and development to accelerate new business development and service system upgrades.

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