Draft:Boost.ai

Boost AI AS
Company type	Private
Industry	Conversational AI; Enterprise Software;
Headquarters	Stavanger, Norway
Key people	Jerry Haywood (CEO); Lars Ropeid Selsås (Founder); Henry Vaage Iversen (Co-Founder; CCO); Hadle Selsås (Co-Founder);
Owner	Nordic Capital (Majority shareholder);
Website	boost.ai

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Declined by Pythoncoder 22 hours ago. Last edited by Pythoncoder 22 hours ago. Reviewer: Inform author.

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Boost.ai is a Norwegian enterprise software company that provides a conversational artificial intelligence (AI) platform. The company specializes in developing AI-powered agents (chatbots and voicebots) designed to automate customer service and support interactions. The platform is built to handle high volumes of inquiries for businesses in highly regulated industries, with a primary focus on the financial services and public sectors.:^[1]

Boost.ai's technology integrates self-learning AI with large language model (LLM) enhancements to improve the capabilities of its conversational AI agents.^[2]^[3]

History

Founding and Early Growth

Boost.ai was founded in 2016 in Stavanger, Norway, by Lars Ropeid Selsås, Henry Vaage Iversen, and Hadle Selsås.^[4] The company's first major client, Sparebank 1 SR-Bank (now SpareBank 1 Sør-Norge^[5]), was signed the same year, with the core AI technology developed within six months.^[6]

The company experienced significant early growth, with operating revenues increasing from 400,000 to nearly 39 million Norwegian kroner in its first two years.^[7] An early innovation was the development of what the company described as the "world's first virtual agent network," designed to streamline customer interactions across multiple departments within a single organization.^[8]

Funding and Ownership

Series A (2018): Boost.ai secured up to $5 million in a Series A funding round from Alliance Venture to support its international expansion.^[9] Alliance Venture made a follow-up investment in May 2020.^[10]
Nordic Capital Partnership (2020): Private equity firm Nordic Capital became a significant owner in Boost.ai.^[11] The partnership, which valued the company at nearly two billion Norwegian kroner, was aimed at accelerating the company's global growth and product development.^[12]

Leadership

Founder Lars Ropeid Selsås served as the company's CEO until November 2022, after which he transitioned to a role devoting more time to product development and innovation.^[13]^[14] On December 1, 2022, Jerry Haywood was appointed as the new CEO.^[15]

The current executive team is composed of the following members ^[16]

Boost.ai Leadership
Name	Role
Jerry Haywood	Chief Executive Officer
Lars Ropeid Selsås	Founder
Henry Vaage Iversen	Chief Commercial Officer & Co-founder
Rasmus Hauch	Chief Technology Officer
Nick Mitchell	Chief Revenue Officer
David Norris	Chief Marketing Officer
Håvard Dahl-Olsen	Chief Customer Officer
Signe Bøhn Bleivik	Chief of Staff
Kalyani Neelamraju	Head of HR

Conversational AI Platform

Boost.ai's primary offering is an enterprise-grade platform that allows organizations to build, deploy, and manage conversational AI agents for both chat and voice channels. The platform utilizes a hybrid AI approach, combining conversational AI (NLU) with generative AI capabilities for more advanced and natural customer interactions.^[17]

Key Technology and Features

Self-Learning AI: The platform includes capabilities that allow its conversational AI agents to learn continuously from interactions, improving understanding and response accuracy over time.^[18]
Large Language Model (LLM) Enhancements: Boost.ai integrates LLM technology to power generative actions, enabling the handling of more complex queries and generating more human-like responses.^[19]
Generative Action Management Toolkit: A suite of tools that provides organizations with control and governance over their generative AI applications, ensuring safe and compliant use.^[20]
AI-Powered CX Insights: An analytics tool that processes data from customer interactions to provide actionable insights for optimizing customer experience (CX).^[21]
Test Studio: A dedicated environment for developers to test and refine AI agents before deployment, ensuring high performance and accuracy.^[22]

Research

In 2018, Boost.ai was a project partner in the "Chatbots for Loyalty" research initiative led by SINTEF, a leading independent research organization in Scandinavia. The project focused on the user-centered design of chatbots, the application of machine learning for predicting user needs, and understanding the role of chatbots within the broader customer journey.^[23]

Partnerships and Clients

Boost.ai has established a broad client base and partner network, with a strong presence in the financial services, telecommunications, healthcare, and public sectors.

Boost.ai Client/Partner Sample
Client/Partner	Industry	Source
Jack Henry	Financial Technology	Link
Sage	Enterprise Software	Link
Vonage	Communications	Link
Sparebank 1 SR-Bank	Banking	Link
SEB	Banking	Link
DNB	Banking	Link
Nordea	Banking	Link
Tryg	Insurance	Link
Telenor	Telecommunications	Link

Industry Recognition and Awards

Boost.ai has received multiple forms of industry recognition for its technology and market position.

Gartner Magic Quadrant: Named a "Challenger" in the 2023 Gartner Magic Quadrant for Enterprise Conversational AI Platforms.^[24]
IBS Intelligence League Table: Recognized for its solutions in the Conversational Banking category.^[25]
CogX Awards: Won "Consumer Chatbot of the Year" at the CogX Awards in 2023.^[26]
Inc. Power Partner: Named to the Inc. Power Partner list in 2023.^[27]

References

[1] ttps://thefintechtimes.com/jack-henry-selects-ai-agents-from-boost-ai-to-automate-call-volumes/

[2] ttps://www.cxtoday.com/contact-center/boost-ai-delivers-self-learning-ai-for-virtual-agents/

[3] ttps://kommunikasjon.ntb.no/pressemelding/17967385/boostai-unveils-large-language-model-enhancements-to-conversational-ai-platform?publisherId=90063

[4] ttps://www.nordiccapital.com/portfolio-cases/investments/boost.ai/

[5] ttps://www.inderes.dk/en/releases/sb1no-completion-of-the-merger-between-sparebank-1-sr-bank-asa-and-sparebank-1-sorost-norge-forming-sparebank-1-sor-norge-asa

[6] ttps://www.forusnaeringspark.no/aktuelt/boost-ai-norges-nye-teknologieventyr/

[7] ttps://www.shifter.no/boost-ai-lars-ropeid-selsas/boostai-skyter-fart-og-oker-fra-14-millioner-til-39-millioner-kroner-i-inntekter--vi-vet-vi-har-verdensledende-teknologi/126259

[8] ttps://www.bable-smartcities.eu/explore/use-cases/use-case/worlds-first-virtual-agent-network.html

[9] ttps://www.artificialintelligence-news.com/news/boost-ai-secures-5-million-investment-for-global-expansion/

[10] ttps://www.shifter.no/nyheter/boost-ai-henter-krisemillioner-ingen-visste-nar-man-kunne-hente-penger-igjen/183163

[11] ttps://www.privateequitywire.co.uk/nordic-capital-partners-boostai/

[12] ttps://www.dn.no/marked/chatbot-selskapet-boost-ai-prises-to-opp-mot-to-milliarder-kroner-i-ny-avtale-far-oppkjopsfond-pa-eiersiden/2-1-975723

[13] ttps://www.dn.no/teknologi/lars-ropeid-selsas/boost-ai/teknologi/teknologigrunder-trekker-seg-som-toppleder-i-boost-ai-jeg-hater-ledelseskurs/2-1-1359638

[14] ttps://www.fintechfutures.com/ai-in-fintech/conversational-ai-firm-boost-ai-hires-jerry-haywood-as-new-ceo

[15] ttps://boost.ai/executive-team

[16] ttps://boost.ai/executive-team

[17] ttps://www.cxtoday.com/contact-center/boost-ai-delivers-self-learning-ai-for-virtual-agents/

[18] ttps://www.cxtoday.com/contact-center/boost-ai-delivers-self-learning-ai-for-virtual-agents/

[19] ttps://aithority.com/machine-learning/boost-ai-unveils-large-language-model-enhancements-to-conversational-ai-platform/

[20] ttps://martechedge.com/news/boostai-launches-generative-action-management-toolkit-to-enhance-ai-governance

[21] ttps://www.destinationcrm.com/Articles/CRM-News/CRM-Across-the-Wire/boost.ai-Launches-AI-Powered-CX-Insights-166255.aspx

[22] ttps://martechvibe.com/article/boost-ai-launches-test-studio-for-smarter-ai-agent-testing/

[23] ttps://www.sintef.no/en/projects/2018/chatbots-for- loyalty/

[24] ttps://www.businesswire.com/news/home/20230309005516/en/Boost.ai-Named-as-a-Challenger-in-2023-Gartner-Magic-Quadrant-for-Enterprise-Conversational-AI-Platforms

[25] ttps://boost.ai/announcements/ibs-intelligence-league-table-conversational-banking/

[26] ttps://lopapatel.com/the-cogx-awards-2023-celebrating-excellence-in-ai-and-technology/

[27] ttps://www.inc.com/profile/boostai

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