Company:Afiniti

From HandWiki
Afiniti
TypePrivate
IndustrySoftware development
GenreArtificial intelligence
Founded2005 in Washington, D.C., United States
FoundersZia Chishti
HeadquartersHamilton,
Bermuda
Area served
Worldwide
Key people
Jerome Kapelus (CEO)
Number of employees
1,300[1] (2021)
Websitewww.afiniti.com

Afiniti is a multinational company specializing in artificial intelligence applications for customer experience optimization in contact centers, founded in 2005. The company develops technologies that use machine learning to match customers with call center agents, with applications in sectors including telecommunications, financial services, healthcare, and insurance.

History

2006–2010: Initial years

In 2006, Afiniti was founded in Washington, D.C. by Zia Chishti, a former Morgan Stanley investment banker who had previously co-founded Align Technology, with the help of his partners at The Resource Group (TRG), Hasnain Aslam and Mohammed Khaishgi of the Kheshgi family.[1][2] In 2008, the company submitted several patents related to matching caller data with computer models, which were granted in 2014.[3]

2011–2020: Growth Period

In late 2016, the company confidentially filed for a potential future initial public offering (IPO).[4][5][6] Around that time, Afiniti also introduced software to run phone numbers "through a variety of databases prior to when a call center agent picks up the phone." The system referred to around 100 databases to gather information on callers, including from public profiles such as Twitter. According to Fortune magazine, the system operated on "the idea that it's possible, using thousands of call records, to determine which agents perform best with certain type of customers."Cite error: Closing </ref> missing for <ref> tag among them Caesars Entertainment Corporation and Sprint.[7] In 2017, the company closed a fourth round of venture funding,[4] bringing in $80 million[4] from investors such as GAM, McKinsey & Co, Elisabeth Murdoch, and John Browne. The round brought the company's total funding raised since its inception to $100 million.[4][8] Afiniti signed a deal with Huawei in September 2017Cite error: Closing </ref> missing for <ref> tag

In January 2018, Fortune magazine included Afiniti on its list of the 100 companies "leading the way in A.I."[9] By June 2018, Afiniti had been active in 18 countries and had 1,000 employees.[1][6]

2021–2024: Resignation of Zia Chishti

In November 2021, Zia Chishti stepped down as chairman, chief executive officer and director following allegations of sexual assault to an employee made in testimony to the United States House Committee on the Judiciary.[10] The former UK prime minister David Cameron left his role as chair of Afiniti's advisory board following the allegations.[11] The board appointed Larry Babbio as interim CEO to lead the company through the transition.[12]

On September 27, 2023, the board named Hassan Afzal as CEO, succeeding Babbio, citing Afzal's experience in scaling technology businesses and his prior role as an Afiniti board member since 2021.[13]

Facing mounting financial pressures, including over $580 million in liabilities, Afiniti entered restructuring proceedings in September 2024, securing a support agreement with 100% of its secured lenders and initiating provisional liquidation in Bermuda for debt reorganization and asset transfer to a new entity.[14]

2025-Present: Post Restructuring

On February 10, 2025, Jerome Kapelus was appointed CEO, replacing Afzal, who transitioned to a strategic advisory role.[15]

Leadership and Advisory Board

Afiniti hired a number of individuals from prominent political and business families, including Princess Beatrice of York,[16] Prince Harry's friend Tom Inskip[16][17] and Winston Churchill's great grandson[18] in the UK, Wyatt Roy in Australia,[19] a nephew of Lee Kuan Yew in Singapore,[20] the son of former Spanish Prime Minister José María Aznar[21] in Spain, the son of French business leader Henri de Castries[22] in France and the daughter of banker António Horta-Osório[18] in the US.

Afiniti also maintained a Senior Advisory Board, which the Telegraph described as resembling "the annual guest list of the Bilderberg Meeting".[23]

Members included political figures such as former UK Prime Minister David Cameron,[24] former French Prime Minister François Fillon,[23] former U.S. Treasury Secretary John W. Snow,[25] and former Australian Foreign Minister Julie Bishop.[26]

It also included former CEOs from major global corporations, such as Thomson Reuters' Tom Glocer,[27] BP’s John Browne,[28] Sony’s Nobuyuki Idei,[29] Unicredit’s Federico Ghizzoni,[30] Air France's Alexandre de Juniac,[25] and Hutchison Whampoa’s Simon Murray.[25]

Services and technology

According to Afiniti, its software uses AI to improve call center efficiency by "predicting interpersonal behavior"[8] between the callers and agents.[1] VentureBeat explains that "when a customer calls into a call center, Afiniti matches their phone number — either landline or cellphone — with any information tied to it from up to 100 databases. These databases carry purchase history, income, and other demographic information."[4][31] Data on customers is collected from the customers and from data brokers. Afiniti does not charge for the software or service itself, but instead takes a percentage of any proven revenue increases resulting from use of the software.[1]

References

  1. ↑ 1.0 1.1 1.2 1.3 1.4 Medici, Andy (June 11, 2018). "Meet D.C.'s little-known artificial intelligence firm — and its plans to go public". Washington Business Journal. https://www.bizjournals.com/washington/news/2018/06/11/meet-d-c-s-little-known-artificial-intelligence.html. 
  2. ↑ Memon, Bilal (December 7, 2017). "Born in the US, raised in Pakistan: Man who founded two billion-dollar companies". The Express Tribune. https://tribune.com.pk/story/1577860/2-born-us-raised-pakistan-man-founded-two-billion-dollar-companies/. 
  3. ↑ "History". Afiniti. https://www.afiniti.com/history. 
  4. ↑ 4.0 4.1 4.2 4.3 4.4 Marshall, Matt (April 14, 2017). "Sales AI company Afiniti valued at $1.6 billion, files for IPO". VentureBeat. https://venturebeat.com/2017/04/14/sales-ai-company-afiniti-raises-1-6-billion-files-for-ipo. 
  5. ↑ Turner, Giles; Baigorri, Manuel (January 2014). "AI Firm Afiniti Said to Weigh IPO at About $2 Billion Value". Bloomberg News. https://www.bloomberg.com/news/articles/2017-01-24/ai-firm-afiniti-said-to-weigh-ipo-at-about-2-billion-value. 
  6. ↑ 6.0 6.1 Hooper, Troy (January 12, 2018). "Top 30 Tech Exits To Watch In 2018". Forbes. https://www.forbes.com/sites/mergermarket/2018/01/12/top-30-tech-exits-to-watch-in-2018/#9f0ecd33a58e. 
  7. ↑ Cite error: Invalid <ref> tag; no text was provided for refs named I
  8. ↑ 8.0 8.1 "This company founded by a Pakistani is valued at $1.6 billion". The Express Tribune (Karachi). April 16, 2017. https://tribune.com.pk/story/1385200/company-founded-pakistani-valued-1-6-billion. 
  9. ↑ Rapp, Nicolas; O'Keef, Brian (January 8, 2018). "These 100 Companies Are Leading the Way in A.I.". Fortune magazine. https://fortune.com/2018/01/08/artificial-intelligence-ai-companies-invest-startups. 
  10. ↑ "Afiniti founder Zia Chishti 'steps down' after sexual assault allegations". Dawn (Karachi). November 19, 2021. https://www.dawn.com/news/1658987. 
  11. ↑ Neate, Rupert (November 17, 2021). "David Cameron quits Afiniti role after founder accused of sexual assault". The Guardian (London). https://www.theguardian.com/politics/2021/nov/17/david-cameron-quits-afiniti-founder-accused-sexual-assault-zia-chishti. 
  12. ↑ "Afiniti Names Larry Babbio as CEO". https://www.businesswire.com/news/home/20211216005351/en/Afiniti-Names-Larry-Babbio-as-CEO. 
  13. ↑ "Afiniti Appoints Hassan Afzal as Its Chief Executive Officer". https://www.businesswire.com/news/home/20230927105063/en/Afiniti-Appoints-Hassan-Afzal-as-Its-Chief-Executive-Officer. 
  14. ↑ "Case No. 24-12539". https://cases.ra.kroll.com/Afiniti/. 
  15. ↑ "Afiniti Appoints Jerome Kapelus as Chief Executive Officer". https://www.businesswire.com/news/home/20250206377316/en/Afiniti-Appoints-Jerome-Kapelus-as-Chief-Executive-Officer. 
  16. ↑ 16.0 16.1 "MSN". https://www.msn.com/en-gb/money/other/blue-blooded-tech-firm-afiniti-files-for-bankruptcy/ar-BB1rin66?ocid=finance-verthp-feeds. 
  17. ↑ Coke, Hope (2020-08-10). "The Duke of Sussex’s childhood friend had reservations about Meghan" (in en-GB). https://www.tatler.com/article/prince-harrys-childhood-friend-tom-skippy-inskip-reservations-about-meghan-finding-freedom. 
  18. ↑ 18.0 18.1 "High Court Judgment Template". https://www.5rb.com/wp-content/uploads/2023/07/1808.pdf. 
  19. ↑ Riley, James (2017-02-06). "What Wyatt Roy did next: Afiniti" (in en-AU). https://www.innovationaus.com/what-wyatt-roy-did-next-afiniti/. 
  20. ↑ Guno, Niña V. (2019-05-28). "Lee Kuan Yew’s grandson Li Huanwu weds BF in South Africa" (in en). https://newsinfo.inquirer.net/1124127/lee-kuan-yews-grandson-li-huanwu-weds-bf-in-south-africa. 
  21. ↑ "Una empresa de la que es consejero Aznar captó 68 millones desde el paraíso fiscal de Bermudas" (in es). 2018-11-29. https://www.lasexta.com/noticias/nacional/empresa-que-consejero-aznar-capto-millones-paraiso-fiscal-bermudas_201811295bffab070cf2971ee67c8f4f.html. 
  22. ↑ "Jérôme de Castries, une affinité pour l'aventure" (in fr). 2018-03-01. https://www.latribune.fr/technos-medias/telecoms/jerome-de-castries-une-affinite-pour-l-aventure-770173.html?id=2556618432436314. 
  23. ↑ 23.0 23.1 Cook, James; Dodds, Io (2019-11-02). "Inside the mysterious world of AI firm Afiniti which boasts David Cameron and Princess Beatrice as recruits" (in en-GB). The Telegraph. ISSN 0307-1235. https://www.telegraph.co.uk/technology/2019/11/02/inside-mysterious-world-ai-firm-afiniti-boasts-david-cameron/. 
  24. ↑ Press, Europa (2019-05-31). "David Cameron ficha por Afiniti, la empresa en la que es consejero José María Aznar". https://www.europapress.es/economia/noticia-david-cameron-ficha-afiniti-empresa-consejero-jose-maria-aznar-20190531160646.html. 
  25. ↑ 25.0 25.1 25.2 "Using artificial intelligence to enhance personalization of customer relationship management in the contact center space: Afiniti's technology case study". June 2017. https://dspace.mit.edu/bitstream/handle/1721.1/114312/1028735848-MIT.pdf?sequence=1&isAllowed=y. 
  26. ↑ HewettColumnist, Jennifer (2019-07-30). "Julie Bishop joins board of global AI firm" (in en). https://www.afr.com/politics/federal/julie-bishop-joins-board-of-global-ai-firm-20190730-p52c66. 
  27. ↑ "COMPLAINT FOR DEFAMATION, LIBEL, FALSE LIGHT, SLANDER, BREACH OF CONTRACT, ABUSE OF PROCESS, CONSPIRACY, INTENTIONAL INFLICTION OF EMOTIONAL DISTRESS, LOSS OF CONSORTIUM". https://www.politico.com/f/?id=00000185-1808-de47-a3e7-7e8866020000. 
  28. ↑ "Lord Browne of Madingley" (in en-US). https://grafine.com/team/lord-browne-of-madingley/. 
  29. ↑ Hurley, James (2021-09-26). "Software company Afiniti restates 2019 accounts" (in en). https://www.thetimes.com/uk/politics/article/afiniti-restates-2019-accounts-8hr237gm0. 
  30. ↑ Barlaam, Riccardo; Corsico, Fabio (2018-02-25). "Afiniti e l’algoritmo da 1,3 miliardi che rende più umano il call center" (in it). https://www.ilsole24ore.com/art/afiniti-e-l-algoritmo-13-miliardi-che-rende-piu-umano-call-center-AEQjFk6D. 
  31. ↑ Cite error: Invalid <ref> tag; no text was provided for refs named HH



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