B2B eCommerce platform Go Autonomous is plotting its expansion after raising $10.3 million.
The Danish company announced its Series A funding round in a Wednesday (Feb. 14) press release, saying the financing would speed the adoption of its artificial intelligence-powered product in Europe and the United Kingdom, and help set the stage for its launch in the United States.
“The B2B industry relies heavily on email as the primary transactional channel, responsible for generating a substantial portion of revenue for most companies,” Go Autonomous said in the release. “Recognizing the significance of email in B2B, Go Autonomous has developed an innovative AI-powered SaaS solution that identifies the intent of emails arriving in an inbox, extracts and structures the necessary information, and connects it into enterprise systems in real time, enabling end-to-end automation of quotes and orders.”
The funding round comes as B2B transactions are “no longer the staid and traditional sector money movement vehicles they once were,” as PYMNTS wrote last month.
Advances in technology and changing consumer behavior have triggered a digital revolution in the financial world, one that B2B payments cannot avoid.
“Of course, the technical feasibility of change matters little if there is no adoption,” PYMNTS wrote. “That’s why 2024 is shaping up to be the year when B2B relationships are re-forged within the crucible of digital convenience.”
Additionally, the demand for real-time payments has moved into the B2B landscape.
“There’s a lot of change going on in the industry,” Kelli Svymbersky, vice president of payment at CCC, told PYMNTS in an interview posted in January. “We are all expecting that instant payment experience that we have in our personal lives” across business transactions.
Meanwhile, PYMNTS Intelligence found that 85% of B2B buyers value a positive experience with vendors as much as they do their products and services.
In addition, 69% of B2B buyers want the companies they work with to deliver novel ways for them to access products and services, according to PYMNTS Intelligence’s “Global B2B Payments Playbook.”
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