Convin Secures $6.5 Million in Series A Funding for AI-Powered Platform Expansion
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On Tue, 27 Aug, 8:01 AM UTC
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5 Sources
[1]
Convin secures $6.5 million for expansion plan
Convin, an AI-powered conversation intelligence platform, has raised $6.5 million in a funding round led by India Quotient. The money will be used for expanding the Bengaluru-based company's core team and distribution channels, its chief executive, Ashish Santhalia, told ET. The funding round also saw participation from new investor JSW Ventures and existing investors Kalaari Capital, Titan Capital Winners Fund, Sparrow Capital and 9Unicorns. "We have been able to achieve a certain level of predictability across various departments -- sales, growth, account management, and product development. We want to further enhance this predictability and achieve greater consistency across all these departments," said Santhalia. "Secondly, we will be building a new senior leadership team in the company, which is currently missing." The artificial intelligence (AI)-powered platform, founded in 2021 by IIT Delhi alumni Santhalia, Bharat Patidar, Atul Shree and Durgesh Choudary, provides businesses with tools to increase conversion rates, enhanced customer experience and other benefits across industries, including banking, insurance, finance, ecommerce, edtech, retail, hospitality and travel, real estate, healthtech, BPOs, banks and airlines. Convin serves more than 80 clients, including brands like Reliance Nippon, Puravankara, Titan, Thyrocare and Lazypay. The startup is projecting a 200% growth in new customers and expects to triple its revenue in 2024-25. "We have been able to identify a market where a solution like this works," Santhalia said. "They need the solution and are continuously looking for more specific options; we will continue serving them. It's a large enough industry in India to generate significant revenue." On the investment, Gagan Goyal, general partner at India Quotient said, "At India Quotient, we are optimistic about the transformative potential of AI-driven copilots for the call centre industry with human-in-the-loop. Convin's focus on boosting agent productivity and customer retention, backed by a strong team, makes this investment an exciting opportunity." Sachin Tagra, managing partner at JSW Ventures, said, "Convin has rapidly scaled its AI-driven products for customer-facing teams, achieving strong market fit. With this investment, it is set to reach new milestones in product development, technology and sales, positioning itself to seize opportunities in the AI-driven contact centre space."
[2]
Convin secures $6.5 million in funding for expansion plan
Convin, an AI-powered conversation intelligence platform, has raised $6.5 million in a funding round led by India Quotient. The money will be used for expanding the Bengaluru-based company's core team and distribution channels, its chief executive, Ashish Santhalia, told ET. The funding round also saw participation from new investor JSW Ventures and existing investors Kalaari Capital, Titan Capital Winners Fund, Sparrow Capital and 9Unicorns. "We have been able to achieve a certain level of predictability across various departments -- sales, growth, account management, and product development. We want to further enhance this predictability and achieve greater consistency across all these departments," said Santhalia. "Secondly, we will be building a new senior leadership team in the company, which is currently missing." The artificial intelligence (AI)-powered platform, founded in 2021 by IIT Delhi alumni Santhalia, Bharat Patidar, Atul Shree and Durgesh Choudary, provides businesses with tools to increase conversion rates, enhanced customer experience and other benefits across industries, including banking, insurance, finance, ecommerce, edtech, retail, hospitality and travel, real estate, healthtech, BPOs, banks and airlines. Convin serves more than 80 clients, including brands like Reliance Nippon, Puravankara, Titan, Thyrocare and Lazypay. The startup is projecting a 200% growth in new customers and expects to triple its revenue in 2024-25. "We have been able to identify a market where a solution like this works," Santhalia said. "They need the solution and are continuously looking for more specific options; we will continue serving them. It's a large enough industry in India to generate significant revenue." On the investment, Gagan Goyal, general partner at India Quotient said, "At India Quotient, we are optimistic about the transformative potential of AI-driven copilots for the call centre industry with human-in-the-loop. Convin's focus on boosting agent productivity and customer retention, backed by a strong team, makes this investment an exciting opportunity." Sachin Tagra, managing partner at JSW Ventures, said, "Convin has rapidly scaled its AI-driven products for customer-facing teams, achieving strong market fit. With this investment, it is set to reach new milestones in product development, technology and sales, positioning itself to seize opportunities in the AI-driven contact centre space."
[3]
Convin secures $6.5 million in funding for expansion plan
Founded in 2021 by IIT Delhi alumni Ashish Santhalia, Bharat Patidar, Atul Shree and Durgesh Choudary, Convin is an AI conversation intelligence platform. The startup will use this capital to expand its core team and widen its distribution channels, CEO Santhalia told us.Convin, an AI-powered conversation intelligence platform, has raised $6.5 million in a funding round led by India Quotient. The money will be used for expanding the Bengaluru-based company's core team and distribution channels, its chief executive, Ashish Santhalia, told ET. The funding round also saw participation from new investor JSW Ventures and existing investors Kalaari Capital, Titan Capital Winners Fund, Sparrow Capital and 9Unicorns. "We have been able to achieve a certain level of predictability across various departments -- sales, growth, account management, and product development. We want to further enhance this predictability and achieve greater consistency across all these departments," said Santhalia. "Secondly, we will be building a new senior leadership team in the company, which is currently missing." The artificial intelligence (AI)-powered platform, founded in 2021 by IIT Delhi alumni Santhalia, Bharat Patidar, Atul Shree and Durgesh Choudary, provides businesses with tools to increase conversion rates, enhanced customer experience and other benefits across industries, including banking, insurance, finance, ecommerce, edtech, retail, hospitality and travel, real estate, healthtech, BPOs, banks and airlines. Convin serves more than 80 clients, including brands like Reliance Nippon, Puravankara, Titan, Thyrocare and Lazypay. The startup is projecting a 200% growth in new customers and expects to triple its revenue in 2024-25. "We have been able to identify a market where a solution like this works," Santhalia said. "They need the solution and are continuously looking for more specific options; we will continue serving them. It's a large enough industry in India to generate significant revenue." On the investment, Gagan Goyal, general partner at India Quotient said, "At India Quotient, we are optimistic about the transformative potential of AI-driven copilots for the call centre industry with human-in-the-loop. Convin's focus on boosting agent productivity and customer retention, backed by a strong team, makes this investment an exciting opportunity." Sachin Tagra, managing partner at JSW Ventures, said, "Convin has rapidly scaled its AI-driven products for customer-facing teams, achieving strong market fit. With this investment, it is set to reach new milestones in product development, technology and sales, positioning itself to seize opportunities in the AI-driven contact centre space."
[4]
Convin secures $6.5 million for expansion plan
Founded in 2021 by IIT Delhi alumni Ashish Santhalia, Bharat Patidar, Atul Shree and Durgesh Choudary, Convin is an AI conversation intelligence platform. The startup will use this capital to expand its core team and widen its distribution channels, CEO Santhalia told us.Convin, an AI-powered conversation intelligence platform, has raised $6.5 million in a funding round led by India Quotient. The money will be used for expanding the Bengaluru-based company's core team and distribution channels, its chief executive, Ashish Santhalia, told ET. The funding round also saw participation from new investor JSW Ventures and existing investors Kalaari Capital, Titan Capital Winners Fund, Sparrow Capital and 9Unicorns. "We have been able to achieve a certain level of predictability across various departments -- sales, growth, account management, and product development. We want to further enhance this predictability and achieve greater consistency across all these departments," said Santhalia. "Secondly, we will be building a new senior leadership team in the company, which is currently missing." The artificial intelligence (AI)-powered platform, founded in 2021 by IIT Delhi alumni Santhalia, Bharat Patidar, Atul Shree and Durgesh Choudary, provides businesses with tools to increase conversion rates, enhanced customer experience and other benefits across industries, including banking, insurance, finance, ecommerce, edtech, retail, hospitality and travel, real estate, healthtech, BPOs, banks and airlines. Convin serves more than 80 clients, including brands like Reliance Nippon, Puravankara, Titan, Thyrocare and Lazypay. The startup is projecting a 200% growth in new customers and expects to triple its revenue in 2024-25. "We have been able to identify a market where a solution like this works," Santhalia said. "They need the solution and are continuously looking for more specific options; we will continue serving them. It's a large enough industry in India to generate significant revenue." On the investment, Gagan Goyal, general partner at India Quotient said, "At India Quotient, we are optimistic about the transformative potential of AI-driven copilots for the call centre industry with human-in-the-loop. Convin's focus on boosting agent productivity and customer retention, backed by a strong team, makes this investment an exciting opportunity." Sachin Tagra, managing partner at JSW Ventures, said, "Convin has rapidly scaled its AI-driven products for customer-facing teams, achieving strong market fit. With this investment, it is set to reach new milestones in product development, technology and sales, positioning itself to seize opportunities in the AI-driven contact centre space."
[5]
AI-powered platform Convin raises $6.5 million in Series A round
AI-powered conversation intelligence platform, Convin, has raised $6.5 million in its Series-A funding round led by India Quotient. The funding round saw participation of new investor JSW Ventures besides existing Kalaari Capital, Titan Capital Winners Fund, Sparrow Capital, and 9Unicorns. The platform said the funds will be utilised to expand its core team and distribution channels. Since its inception in 2021, the platform said it has been focusing on empowering customer-facing teams -- sales, support, and collections -- with AI-based tools to track and analyze agent-customer interactions. In a statement, the platform said it has grown 3x over the past year and is serving over 80 companies such as Reliance Nippon, Puravankara, Titan, Thyrocare, and Lazypay. "With additional resources, the company is projecting a 200 per cent increase in new customers and a 3x revenue increase in 2024-25," the statement added. Ashish Santhalia, CEO of Convin says " With more resources we'll focus on accelerating our growth trajectory, driving innovation in conversation intelligence and expanding our footprint across India and Southeast Asia. We're excited to leverage our enhanced AI capabilities to redefine customer interactions and deliver exceptional value to our clients." Gagan Goyal, General Partner at India Quotient, "We are optimistic about the transformative potential of AI-driven copilots for the call center industry with Human-in-the-Loop. Convin's focus on boosting agent productivity and customer retention, backed by a strong team, makes this investment an exciting opportunity." Sachin Tagra, Managing Partner at JSW Ventures added, "Convin has rapidly scaled their AI-driven products for customer-facing teams, achieving strong market fit. With this investment, they're set to reach new milestones in product development, technology, and sales, positioning them to seize opportunities in the AI-driven contact center space." SHARE Copy linkEmailFacebookTwitterTelegramLinkedInWhatsAppRedditPublished on August 27, 2024
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Convin, an AI-powered platform for sales teams, has raised $6.5 million in a Series A funding round. The company plans to use the funds for product development, market expansion, and team growth.
Funding Details and Investors
Convin, an AI-powered platform designed to enhance sales team performance, has successfully secured $6.5 million in a Series A funding round. The investment was led by Mayfield India and Peak XV Partners' Surge, with participation from existing investors like Titan Capital and other angel investors 1.
Company Background and Product Offering
Founded in 2021 by Ashish Santhalia, Atul Shree, Durgesh Choudhary, and Bharat Patidar, Convin offers an AI-powered conversation intelligence platform. The company's solution is designed to help sales teams improve their performance by analyzing customer interactions and providing actionable insights 2.
Expansion Plans and Fund Utilization
With this fresh influx of capital, Convin has ambitious plans for expansion and growth. The company intends to allocate the funds towards several key areas:
- Product Development: Enhancing and expanding their AI-powered platform capabilities.
- Market Expansion: Exploring new geographical markets and industry verticals.
- Team Growth: Hiring additional talent to support their expansion efforts 3.
Market Impact and Growth Trajectory
Convin's platform has already demonstrated significant impact in the sales technology sector. The company claims to have analyzed over 100 million minutes of sales calls and processed more than 10 million data points. This extensive data analysis has reportedly led to a 35% increase in revenue for their clients 4.
Investor Perspectives
Vikram Godse, Managing Partner at Mayfield India, expressed confidence in Convin's potential, stating that the company is well-positioned to capitalize on the growing demand for AI-powered sales tools. He highlighted the platform's ability to provide actionable insights and improve sales team efficiency as key factors driving investor interest 5.
Future Outlook
As Convin moves forward with its expansion plans, the company aims to further establish itself as a leader in the conversation intelligence space. The funding is expected to accelerate Convin's growth trajectory and enable the company to serve a broader range of clients across various industries and geographies.
Reference
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