Artificial intelligence-backed employee service desk platform Rezolve on Friday said it has secured Series A funding of $11 million (around Rs 90.7 crore) led by SIG Venture Capital, with participation from Exfinity Venture Partners, 9Unicorns and Tri Valley Ventures.
The startup plans to use the fresh funds to scale up its employee service experience and growth.
Rezolve, founded by Saurabh Kumar, Manish Sharma and Udaya Reddy in 2017, offers employee service desk experience that can be integrated with platforms like Microsoft Teams and Slack.
The company competes with players such as Freshdesk, Kahoot and Jira, among others.
“Our name reflects our vision - we don’t want people to track tickets, we want to resolve their support needs - instantly and automatically without human support intervention,” said Reddy.
In 2020, Rezolve raised $500,000 in a funding round led by Venture Catalysts. Serial entrepreneur Venkat Raju, information technology veteran Shanmugam Nagappan, angel investors Dhrumil Shah and Harshit Shah and technologist Aloknath De also took part in the round.
In the recent past, conversational AI startups have been raising significant investments from venture capital firms globally. For instance, enterprise conversational AI startup Barcelona-based Inbenta raised $40 million in a funding round led by Tritium Partners last month.
In India too, there are several conversational AI startups that have recently raised cash. In 2021, customer-focused conversation automation platform Yellow.ai had bagged $78.15 Mn in Series C led by WestBridge Capital. On the other hand, Sequoia-backed Salesken had bagged $22 million in funding led by M12, Microsoft's Venture Fund, in November last year.