The cloud-based conversion intelligence platform Convin raised $6.5 million in fresh capital in its ongoing funding round from India Quotient. The funding round saw the participation of several new and existing investors including Kalaari Capital, Sparrow Capital, JSW Ventures, 9unicorns, and Titan Capital Winners Fund. The company plans to use these fresh proceeds to scale its operation, expand its core team, and expand its distribution channels while developing its market presence.
The company empowers businesses to capture conversations from multiple platforms. The startup provides customers with AI-based tools to analyze and track conversations to generate insights into the market. This enables companies to analyze customer-agent interactions, understand customer requirements, and improve efficiency. The startup aims to provide top conservation intelligence solutions to its customers.
The platform is designed to empower customer care teams with sales support and collections by offering AI tools. The company may use some of this investment to increase its customer base across India. Covin offers three core products: the post-interaction suite, the real-time suite, and the Convin Insights suite. These products address critical challenges like poor conversion rates and agent inefficiencies.
Convin offers services in different sectors including hospitality, e-commerce, finance, insurance, travel, and retail. The startup has raised over $2.44 million across two funding rounds since its inception, excluding the latest series A funding round. The platform secured 2.1 million USD in its seed funding round led by Kalaari Capital. The platform is also available for health tech, real estate, airlines, and BPO industries. The company serves around 80 clients including known brands like Thyrocare, Titan, Reliance Nippon, and LazyPay.
The partner at India Quotient, Gagan Goyal showed their support and excitement for this deal and mentioned the need for AI-driven tools to eliminate business inefficiencies or gaps. The new investment will enable the company to enhance its platform capabilities and introduce innovative solutions for customer-facing teams.
The managing partner at JSW Ventures, Sachin Tagra mentioned that the AI-powered platform has scaled its products for customer-facing teams while achieving market fit. ET reported. The development came after the conversational platforms saw increased investor interest. The startup expects a growth of 200 percent with a three-time increase in its revenue for FY25. The startup faces competition from other companies in the same segment including CallRail, People AI, and more.
Conclusion:
Convin is a conversational intelligence platform based on Cloud that secured 6.5 million USD in its ongoing series A funding round led by India Quotient with other investors. The funding round had the participation of JSW Ventres, Sparrow Capital, Kalaari Capital, 9unicorns, and Titan Capital Winners Fund.
The company intends to use this fresh capital to scale up its operations, expand its network, meet market demands, and strengthen its market presence The company offers various AI-based tools to empower the customer-facing teams. The platform provides three product suites to analyze customer-agent interactions and understand customer needs. The startup competes with other conversation intelligence platforms in the same sector like People AI, CallRail, and Invoca.
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