Avaamo builds deep-learning conversational AI intended to let humans speak, interact, transact and complete business workflows without human intervention, positioning Conversational AI as the new UI. The company has expanded its award-winning technology into new markets and says it has scaled SaaS revenue while preserving shareholder value and capital efficiency. Avaamo was cited as one of the fastest growing companies on the INC 500 list for 2021. The firm plans to use outside capital to continue global hypergrowth and accelerate go-to-market efforts. The announcement highlights partnership-focused, capital-efficient growth but does not disclose specific revenue or user metrics in the release. Avaamo provides a conversational AI platform that enables enterprises to deploy omnichannel intelligent assistants for supply chain, HR, sales support, claims processing and insurance advisory. The company serves customers in finance, mutual funds, telco, retail and healthcare industries. Avaamo was founded by Ram Menon and Sriram Chakravarthy and is based in Los Altos, CA. The platform is marketed to enterprises seeking to automate and improve customer and internal workflows. The company intends to use the new funds to expand its sales and marketing efforts. No operating metrics were disclosed in the article. Avaamo is a mobile-first enterprise messaging app designed to provide simple, secure communications for a largely mobile workforce. The app resembles consumer messaging tools but adds enterprise-grade encryption, administrative controls and an ephemeral “off-the-record” mode. It supports secure messaging both inside and outside organizations, a separate in-company contact list, and an API to integrate with business applications and send notifications. The founders, Ram Menon and Sriram Chakravarthy, previously built TIBCO’s enterprise social network tibbr. Avaamo raised $6.3 million in seed financing to expand deployment and embed the app in more enterprises. The company plans to grow distribution both by having users install the app and through partnerships with enterprise service providers who will pre-install it.

Total raised

$28M

Funding rounds

3

Latest round

Debt Financing

Latest activity

Aug 2021