Peak XV Partners has doubled down on its bet in a US-based software company with Indian founders, more than two years after helping the startup raise its seed investment.
The venture capital firm has participated in California-based customer feedback platform Enterpret's $20.8 million (Rs 176 crore) Series A investment round led by Canaan Partners. Some of the existing backers Kleiner Perkins, Wing Ventures, and Recall Capital also joined the funding round.
A spokesperson for Peak XV declined to disclose the amount invested in the current and previous rounds.
Enterpret said it is building AI-models to analyse large chunks of unstructured customer feedback data across channels to extract key themes, sentiment, underlying issues, and topics, which could help teams quickly identify patterns and improve customer satisfaction.
The capital raised, Enterpret said, will be used to scale, and deploy no-code AI agents to help customers "bridge divides between product, marketing, and sales teams, and even collect rich feedback".
Enterpret counts companies such as Monday.com, Canva, Notion, Loom (Atlassian) in its clientele.
The company, in 2022, had raised $4.3 million in seed funding from Kleiner Partners, Unusual Ventures and other angel investors.
The startup was founded in 2020 by brothers Varun and Arnav Sharma in Bengaluru and is currently based in San Fransisco. It claims to have doubled its annual recurring revenue (ARR) since May 2024.