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Tuesday, 22 February 2022 14:41

Adelaide's Licorice AI startup attracts $1.8 million funding

Licorice founder and product architect Samantha Glocker Licorice founder and product architect Samantha Glocker

Founded in Adelaide and with another office in Houston, Licorice is working to replace traditional IT services trouble tickets with a system that uses AI to match incoming requests with the right engineers, calculate the time required for each task, and allows customers to choose appointment times that suit them.

The Licorice system integrates with various IT support platforms, providing services companies with an "instant" way to improve service and increase revenue.

The company has received $1.8 million in funding, and its first customers employ 1,200 service professionals in six countries.

"Capital is earmarked for accelerating software development and expanding our go-to-market strategy, because we are in the position to rapidly scale and dominate the AI scheduling space globally," said Licorice founder and product architect Samantha Glocker.

"Every integration we make, whether that's with an IT services platform like ConnectWise or ServiceNow, or a Zoom or Slack add-on, increases our market penetration exponentially."

She describes the current approach to triaging IT tickets as "like standing in a checkout queue where everyone can cut in front of you and you don't know when you'll be served."

This leads to less-urgent jobs slipping through the cracks, resulting in services companies losing more than 30% of their potential revenue, according to Glocker.

As well as preventing that, Licorice takes care of estimating task duration, skills-based routing, scheduling and time recording, and automatically calculating billables.

"Using Licorice, clients know when their issue will be addressed, and who will be doing the work , which in turn reduces pressure on IT workers in one of the most stressful jobs in the world," she added.

"Now they can know the layout of their day before they arrive at work, and go home with a sense of satisfaction knowing what they've accomplished."

The company is considering another capital raising in the middle of 2022 to fund further growth.

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Stephen Withers

Stephen Withers is one of Australia¹s most experienced IT journalists, having begun his career in the days of 8-bit 'microcomputers'. He covers the gamut from gadgets to enterprise systems. In previous lives he has been an academic, a systems programmer, an IT support manager, and an online services manager. Stephen holds an honours degree in Management Sciences and a PhD in Industrial and Business Studies.

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