Mavenoid raised $30 million in a series B round of funding led by Smedvig Capital,.

Mavenoid, a Stockholm, Sweden-based company developing software that helps companies scale tech-focused product support, raised $30 million in a series B equity financing round.

The money was raised from investors led by Smedvig Capital, and joined by Mosaic Ventures, Creandum, Point Nine Capital, NordicNinja and ABB Technology Ventures.

The proceeds will be used to invest further in product development and scale its technology globally.

Mavenoid, founded in 2016 by CEO Shahan Lilja and CTO Gintautas Miliauskas, developed a software tool using machine-learning and a chatbot style UI to on-board customers after they have made a purchase and to deliver on-going automated tech support. The tech was built on top of years of research conducted by RISE SICS in close collaboration with the Swedish Armed Forces to help mechanics repair tanks and terrain vehicles. The business case is enabling companies to transform their product documentation into snippets of relevant answers that can be indexed and searched through the Mavenoid self-service product assistant - the tool is available in 50 languages and works with third-party integrations including with Salesforce, Zendesk, Shopify, and Zapier.

Prior to this round, Mavenoid closed a $8 million series A led by Mosaic Ventures back in 2020 and secured $1.9M in a seed round led by Point Nine Capital in 2018.