Smart video platform IrisCX collects $4.6m in seed financing

• The round was led by Arthur Ventures
• It was preceded by a $1.7 million pre-seed financing closed in June 2021
• The funds raised will be used by IrisCX for product development, hiring new team members and investing in go-to-market

IrisCX, a Calgary-based smart video platform for virtual product selection, DIY setup and support, has raised $4.6 million in seed financing. The investor was Arthur Ventures.

The new round brings IrisCX’s total funding so far to $6.8 million. Heron Rock Fund, Forum Ventures and other private investors contributed to $1.7 million pre-seed financing closed in June 2021.

Through IrisCX’s smart video platform, brands can own their consumers’ purchasing and customer support experiences virtually. Powered by computer vision, conversational intelligence, and machine learning, IrisCX’s self-guided and live video sessions provide brands with consumer behavior insights needed for decision-making.

The funds raised will be used by the company for product development, hiring new team members and investing in go-to-market.

“Today’s consumers want self-service and on-demand options because their time is important to them,” said Patrick Meenan, general partner at Arthur Ventures, in a statement. “IrisCX makes it easy for the average person to perform simple tasks that have traditionally been done by technicians. IrisCX also connects consumers with experts to help them make the right purchasing decisions for their specific needs. It’s a win-win. Consumers receive an improved buyer and user experience, while brands both reduce overhead and improve customer satisfaction.”

Based in Minneapolis, Arthur Ventures is a venture capital firm focused on investing in B2B software companies located outside Silicon Valley.