The latest funds The round has brought the Palo Alto-based company valuation to $1.15 billion, marking its entry into the unicorn club.
He AI The boom has revitalized venture capital funding, with investors placing big bets on AI. Startups hoping to reap substantial benefits from the widespread adoption of AI.
Investments in artificial intelligence startups soared to $24 billion between April and June, more than double the figure from the previous quarter, according to data from Crunchbase.
As of 2024, 38 startups have a valuation of more than $1 billion, with Elon Musk-led xAi leading the pack with a valuation of $24 billion, according to Techcrunch.
Founded in October 2020 by former Nutanix CEO Dheeraj Pandey, DevRev is a provider of AI-powered customer engagement software that helps connect end-users, sales, support, product staff, and developers on a common platform.
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Khosla Ventures, which has backed DevRev since 2021, has also backed several high-profile names including Instacart, DoorDash, and Stripe. “Design will play a key role in building trust with end users, who have inevitably started to witness the AI hype cycle with broken prototypes and custom, one-off GPT wrappers that are inherently unmaintainable and insecure,” said Dheeraj Pandey, CEO of DevRev.
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