Gurugram-based startup LimeChat has announced a new partnership with tech giant Microsoft to launch an AI-powered chatbot. LimeChat specializes in providing AI chatbot solutions to ecommerce brands to optimize customer engagement and increase conversions across various communication channels. The collaboration with Microsoft aims to accelerate LimeChat’s revenue growth, target enterprise customers, and achieve profitability in the first half of this year.
The partnership will enable LimeChat to leverage Microsoft’s extensive sales network, which operates in all 192 countries where the company offers its services. This global reach will allow LimeChat to triple its revenue without significantly expanding its workforce. By tapping into Microsoft’s sales machinery, LimeChat can access large enterprises and benefit from their higher unit economics, which contribute to profitability.
Using Microsoft Azure OpenAI Service, LimeChat has enhanced its chatbot platform to provide superior customer query responses compared to previous versions and competitors. Through the collaboration, LimeChat has achieved impressive results with its clients. For example, Wow Skin Sciences, a direct-to-consumer brand, experienced a 50% increase in conversions by overcoming the challenge of “product discovery” using LimeChat’s chatbot.
The partnership has also significantly improved the chatbot’s accuracy, reducing the “confusion rate” from 8-9% to 0.5%. This achievement demonstrates LimeChat’s commitment to continuously enhancing its chatbot capabilities through research and development.
LimeChat currently serves 300-400 brands, with a majority of them adopting the new features and functionalities introduced through the Microsoft collaboration. The success of LimeChat’s pilots with different customers and challenges has paved the way for further growth and innovation within the AI chatbot space.
While LimeChat’s partnership with Microsoft does not involve any commercial aspects or financial investment from the tech giant, it signifies a broader trend of increased collaboration and initiatives in the AI field. Both LimeChat and Microsoft are poised to benefit from this partnership as they explore new opportunities in the enterprise market and continue to drive innovation in the AI space.
The source of the article is from the blog enp.gr