The AI powered conversation intelligence platform known as Convin has closed its Series A funding round at $6. 5 million in their current funding of Seed round led by India Quotient. This venture is meant to enable this professionally-managed company based in Bengaluru, India compound its core team and distribution networks. The funding round also included new comer investor JSW Ventures along with other investors like Kalaari Capital, Titan Capital, Winners Fund, Sparrow Capital, and 9 unicorns.
Started in 2021 by Ashish Santhalia, Bharat Patidar, Atul Shree & Durgesh Choudary all from IIT Delhi, Convin helped businesses with AI tools to improve conversion rates, customer experience, and other factors such as verticals like banking, Insurance, E-commerce, edtech, retail, etc. The above platform has already captured the good market and has served more than 80 clients like Reliance Nippon, Puravankara, Titan, Thyrocare, and Lazypay etc.
With this new funding, Convin wants to increase the focusing on making the departments more predictable and consistent in their performance, especially when it comes to sales and growth as well as account management and product development. Also, it aims at constructing a new senior leadership team for the growth of the organization in the next phase. Convin has forecasted the level of new customers’ addition at 200 percent higher and aims to achieve three times the current revenues within the financial year, 2024-25.
Speaking about the role of artificial intelligence for the call center industry, Gagan Goyal, the general partner of India Quotient, which is the investor of Convin, remains rather optimistic after having analyzed the company’s work and its main goal – to increase the efficiency of agents and customer loyalty. Likewise, JSW Ventures’ managing partner, Sachin Tagra, echoed Convin’s impressive growth and solid market fit noting that the investment will enable the company to set new heights in product creation, technological enhancements, and sales and firmly establish Convin for an ambitious growth trajectory in the AI driven contact centre market.