Convin, a Bengaluru-based AI-based conversation intelligence platform, has raised $6.5 million in a Series A funding round funds round.
The round was led by India Quotient, with participation from new investor JSW Ventures, as well as existing backers including Kalaari Capital, Titan Capital Winners Fund, Sparrow Capital and 9Unicorns.
What does Convin do?
Founded in 2021 by IIT Delhi alumni Ashish Santhalia, Bharat Patidar, Atul Shree, and Durgesh Choudary, Convin empowers customer-facing teams (sales, support, and collections) with AI-powered tools to track and analyze agent-customer interactions.
The startup’s platform is built around three main product suites: Real-Time Suite, Post-Interaction Suite and Convin Insights Suite.
These products focus on addressing critical challenges in the contact center industry such as agent inefficiencies, mis-selling, low conversion rates, and poor customer experiences.
Purpose of fundraising
The startup plans to use the capital raised to expand its core team and distribution channels.
“This round of funding is a testament to the confidence our investors have in Convin’s vision and the impact we are making in the contact center industry. With more resources, we will focus on accelerating our growth trajectory, driving innovation in conversation intelligence, and expanding our presence in India and Southeast Asia,” said Ashish Santhalia.
“We have had the opportunity to work with Ashish and his team since we led their seed funding round in 2022, and we remain equally excited to continue supporting their journey in the current round. Their deep industry expertise and scalable AI solutions position them perfectly to lead innovation and redefine customer interactions. We believe Convin will continue to grow to become a leading global player in the conversational intelligence space.”
Convin’s presence in the market
Convin says it serves more than 80 clients across a range of industries, including banking, insurance, finance, e-commerce, education technology and retail.
Some of its notable clients include Reliance Nippon, Titan, Puravankara, Thyrocare and LazyPay.
The startup now projects 200% growth in new customers and expects to triple its revenue in fiscal year 2024-25.
Sachin Tagra, Managing Partner at JSW Ventures, added: “Convin has rapidly scaled its AI-powered products for customer-facing teams, achieving strong market fit. With this investment, they are poised to achieve new milestones in product development, technology, and sales, positioning them to capitalize on opportunities in the AI-powered contact center space.”
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