Convin Rakes in $6.5 Million in Series A Funding to Scale AI-Powered Customer Interaction Platform
Convin, a rapidly growing customer intelligence platform, has secured $6.5 million in its Series A funding round led by India Quotient, a prominent early-stage institutional venture capital fund. The investment also saw participation from new investor JSW Ventures and existing investors Kalaari Capital, Titan Capital Winners Fund, Sparrow Capital, and 9Unicorns.
Expansion Plans:
The freshly injected funds will be utilized to bolster Convin’s core team and expand its distribution channels, enabling the company to further penetrate the market and accelerate its growth trajectory.
Company Overview:
Founded in 2021 by Ashish Santhalia, Convin empowers customer-facing teams, including sales, support, and collections, with artificial intelligence (AI)-based tools to optimize agent-customer interactions, thereby boosting efficiency and effectiveness. The platform’s innovative features include three core product suites:
- Real-Time Suite: addresses agent inefficiencies and provides real-time feedback to enhance customer experiences.
- Post-Interaction Suite: offers end-to-end evaluation of customer interactions, detecting areas of improvement and implementing data-driven strategies.
- Convin Insights Suite: enables users to gain a deeper understanding of customer needs, preferences, and pain points, leading to data-driven decision-making.
Market Traction:
Convin has witnessed remarkable growth, expanding its user base by threefold over the past year, reaching over 80 clients across diverse industries, including banking, insurance, finance, e-commerce, edtech, retail, and more. Notable clients include major brands like Reliance Nippon, Puravankara, Titan, Thyrocare, and Lazypay.
Future Projections:
With the new funding, Convin is poised to achieve significant milestones, expecting a 200% increase in new customers and a threefold jump in revenue in 2024-25.
India Quotient’s Investment:
India Quotient, an early-stage institutional venture capital fund, has a robust portfolio of successful startups, including ShareChat, Sugar Cosmetics, Giva, Kuku FM, WebEngage, and Vyapar, showcasing its ability to identify and invest in promising technology-led startups at the seed to Series A stages.
As Convin continues to scale and expand its customer interaction platform, this significant investment represents a vital stepping stone in its journey to revolutionize the customer experience across various
