Next-Gen AI-Powered Employee Platform Rezolve.ai Raises $11M Series A led by SIG Venture Capital
– The funds will be utilized to spur expansion and enhance the platform’s capabilities for a superior employee service experience.
India, February 9, 2023: Rezolve.ai, a cutting-edge AI-powered employee service SaaS platform, has announced the completion of its $11 million Series A funding round. The round was led by SIG Venture Capital and had participation from Exfinity Venture Partners, along with support from existing investors 9Unicorns and Tri Valley Ventures.
The funds raised will be utilized to support Rezolve.ai’s growth and enhance the platform’s capabilities, allowing for the delivery of the industry’s most advanced employee service experience.
On the fundraise Saurabh Kumar, CEO of Rezolve.ai, said that Rezolve.ai brings modern employee service desk experience within the convenience of collaboration platforms like Microsoft Teams and Slack. The solution leverages cutting-edge conversational AI and intelligent automation skills to provide an instant service desk experience like never before.
“Every employee, in every company on the planet, needs internal technical support about once a month. The two decades old legacy model of creating tickets and calling for support is costing employers billions in direct cost, and billions more in lost employee productivity. Employers and employees want this changed with urgency – and Rezolve.ai is powering this new future,” Saurabh added.
Manish Sharma, Chief Revenue Officer at Rezolve.ai, added “Employee support and enablement is undergoing dramatic transformation, with a new set of market leaders set to emerge in a year or two. With ChatGPT like employee experience and many other differentiators built-in, Rezolve.ai has established itself as an innovative leader in this space and is making a real difference in the life of employees and service desk technicians. With the current round of investment and our uber innovative product, we are poised to establish dominance in the employee support and enablement market”.
Our name reflects our vision – we don’t want people to track tickets, we want to resolve their support needs – instantly and automatically without human support intervention – added Udaya Bhaskar Reddy, CTO and Co-Founder. We have done this by creating a deep employee service stack that combines advanced NLU, an AI powered knowledge management layer, thousands of tasks, processes, and troubleshooting “skills” – that can work together to fully automate more than half of Level 1 support.
“We invested in Rezolve.ai to support the founder’s vision of leveraging rapid improvements in AI capability that allow incumbent support platforms to transition from being just a process workstream to an intelligent intermediation layer that reduces human involvement. This functionality can become the de facto Level 1 Support inside organizations – not just for IT & HR but for every support function needed across organizations. Rapid growth, strong customer and analyst feedback, and product superiority sets Rezolve up to fulfill its product vision.” said Bhavanipratap Rana, Investment Adviser, SIG Venture Capital.
Rezolve.ai, a cutting-edge AI-powered employee service SaaS platform founded in 2017 by three alumni of Indian Institute of Management, Bangalore (IIMB), Saurabh Kumar, Manish Sharma, and Udaya Reddy, competes with industry leaders such as Freshdesk, Kahoot, and Jira. Based in San Ramon, California, the company has a presence in India, Canada, and the US, with its major market being the US.
Rezolve.ai boasts a 5.0-star customer rating on G2 and has been rated #1 in the Service Desk category for Ease of Use, Ease of Setup, and Likelihood to Recommend (G2 Fall Report 2022). In the past two years, the company has received several prestigious awards and accolades, including being named a 2021 Hot Vendor by Aragon Research, a Hot Vendor by HFS Research, a “Product Challenger” in ISG’s Provider Lens for Intelligent Automation, a Notable Vendor in Chatbots for IT Operations Vendor Landscape by Forrester Research (Q2 2022), a recipient of the “Great User Experience 2021” award by Finances Online, and an Aspirant in the Top Conversational AI Technology Vendor Landscape PEAK Matrix® Assessment 2022 by Everest Group. Furthermore, Rezolve.ai is fully compliant with GDPR, SOC 2 Type II, HIPAA, and ISO 27001.