Convin, an AI-powered conversation intelligence platform, has raised $6.5 million in a funding round led by India Quotient.
The money will be used for expanding the Bengaluru-based company’s core team and distribution channels, its chief executive, Ashish Santhalia, told ET.
The funding round also saw participation from new investor JSW Ventures and existing investors Kalaari Capital, Titan Capital Winners Fund, Sparrow Capital and 9Unicorns.
“We have been able to achieve a certain level of predictability across various departments—sales, growth, account management, and product development. We want to further enhance this predictability and achieve greater consistency across all these departments,” said Santhalia. “Secondly, we will be building a new senior leadership team in the company, which is currently missing.”
The artificial intelligence (AI)-powered platform, founded in 2021 by IIT Delhi alumni Santhalia, Bharat Patidar, Atul Shree and Durgesh Choudary, provides businesses with tools to increase conversion rates, enhanced customer experience and other benefits across industries, including banking, insurance, finance, ecommerce, edtech, retail, hospitality and travel, real estate, healthtech, BPOs, banks and airlines.
Convin serves more than 80 clients, including brands like Reliance Nippon, Puravankara, Titan, Thyrocare and Lazypay. The startup is projecting a 200% growth in new customers and expects to triple its revenue in 2024-25.
“We have been able to identify a market where a solution like this works,” Santhalia said. “They need the solution and are continuously looking for more specific options; we will continue serving them. It’s a large enough industry in India to generate significant revenue.”
On the investment, Gagan Goyal, general partner at India Quotient said, “At India Quotient, we are optimistic about the transformative potential of AI-driven copilots for the call centre industry with human-in-the-loop. Convin’s focus on boosting 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-driven products for customer-facing teams, achieving strong market fit. With this investment, it is set to reach new milestones in product development, technology and sales, positioning itself to seize opportunities in the AI-driven contact centre space.”
