The money will be used to expand the Bengaluru-based company’s core team and distribution channels, its chief executive said. Ashish SantaliaET customs.
The funding round also saw participation from new investor JSW Ventures and existing investors. Capital of the KalaariTitan Capital Winners Fund, Sparrow Capital and 9Unicorns.
“We have been able to achieve a certain level of predictability across several departments: sales, growth, account management and product development. We want to further improve this predictability and achieve greater consistency across all these departments,” Santhalia said. “Second, we are forming a new senior leadership team in the company, which currently does not exist.”
Founded in 2021 by IIT Delhi Santhalia alumni Bharat Patidar, Atul Shree and Durgesh Choudary, the artificial intelligence (AI)-powered platform provides businesses with tools to increase conversion rates, improve customer experience and other benefits across industries including banking, insurance, finance, e-commerce, edtech, retail, hospitality & travel, real estate, healthcare technology, BPOs, banks and airlines.
Convin serves over 80 clients, including brands like Reliance Nippon, Puravankara, Titan, Thyrocare and Lazypay. The startup is forecasting a 200% growth in new customers and expects to triple its revenue by 2024-25.
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“We have been able to identify a market where a solution like this works,” said Santhalia. “They need the solution and are continuously looking for more targeted options; we will continue to serve them. It is a large enough industry in India to generate significant revenue.” Commenting on the investment, Gagan Goyal, General Partner, India Quotient, said, “At India Quotient, we are bullish on the transformative potential of AI-powered co-pilots for the call center industry with human involvement. Convin’s focus on driving agent productivity and customer retention, backed by a strong team, makes this investment an exciting opportunity.”
Sachin Tagra, Managing Partner at JSW Ventures, said: “Convin has rapidly scaled its AI-powered products for customer-facing teams, achieving strong market fit. With this investment, it is poised to achieve new milestones in product development, technology and sales, positioning itself to capitalize on opportunities in the AI-powered contact center space.”
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