AI-driven Customer Success Startup Involve.ai Announces $16 Million Funding
Involve.ai, a startup using AI to bolster customer success, recently announced it has raised $16 million in a series A round led by Sapphire Ventures and other investors. The company says the capital will be put toward product development and hiring on the engineering, data science, and go-to-market sides. Customer success emerged as a top priority for companies […]
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Involve.ai, a startup using AI to bolster customer success, recently announced it has raised $16 million in a series A round led by Sapphire Ventures and other investors. The company says the capital will be put toward product development and hiring on the engineering, data science, and go-to-market sides. Customer success emerged as a top priority for companies as the pandemic disrupted processes, causing businesses to rethink how they operate.ip Ad
Involve aims to help customers find signals in siloed systems and parse through millions of data points to prevent customer churn, increase revenue, and personalie customer experiences. The company was cofounded by Gaurav Bhattacharya and Saumya Bhatnagar, who started coding when they were just 10 years old and met in a high school coding class in India. Before Involve, Bhattacharya and Bhatnagar launched patient experience software out of high school. This software was eventually distributed by the Indian government to ultrasound specialists.
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The platform has managed to attract 22,000 paying customers in three years — revenue grew 480 per cent in 2021 from 2020 — but Bhattacharya hopes to reach 200,000 customers by 2023. In the coming months, Involve plans to deploy new AI-driven workflows and enhance its renewal sentiment classifier, which parses natural language to find insights potentially valuable to customer success.
San Francisco-based Involve, which currently has 34 employees, aims to have 58 by the end of the year and 120 by the middle of next year. The latest funding round brings the company’s total raised to $35 million.
