Rezolve.ai raises $11 million in funding round led by SIG Venture Capital
A $11 million Series A led by SIG Venture Capital with participation from Exfinity Venture Partners has been closed by the service desk and workplace automation company Rezolve.ai. Additionally investing in the round were 9Unicorns and Tri Valley Ventures, two previous backers. According to the business, it intends to use the cash to expand development and further develop the platform's capabilities to create a superior employee service experience.
"About once a month, every employee in every organisation on Earth requires internal technical support. Employers are paying billions in direct costs and additional billions in lost employee productivity due to the 20-year-old traditional paradigm of creating tickets and dialling for assistance. Employers and employees are eager to see this transformation, and Rezolve.ai is enabling this new era, according to Saurabh Kumar, CEO of Rezolve.ai.
He continued by saying that it combines the simplicity of collaboration platforms like Microsoft Teams and Slack with a modern employee support desk experience. The issue of insufficient staff assistance within the corporation is addressed. By 2025, it is anticipated that the $3 billion US market for service desk automation would grow to $10 billion in the commercial sector.
Many businesses intend to function in a hybrid environment following the pandemic and feel the need to strengthen and increase staff assistance. As it will be concentrating on this requirement with a share focus on mid-segment and enterprise companies, the company anticipates even quicker growth the next year.
Three alumni of the Indian Institute of Management, Bangalore (IIMB), Saurabh Kumar, Manish Sharma, and Udaya Reddy, started the business in 2017. It competes with firms like Freshdesk, Kahoot, and Jira, among others. Rezolve.ai is based in San Ramon, California, and also has operations in Toronto, India; Chennai, India; and Dehradun, India. However, the US is its biggest market.
"We invested in Rezolve.ai to support the founder's ambition of using rapidly advancing AI capacity to enable existing support platforms to transform from being just a process workstream to an intelligent intermediation layer that minimises human participation. Rezolve is well-positioned to realise its product ambition because to its rapid expansion, positive customer and analyst feedback, and exceptional products. the SIG Venture Capital investment adviser Bhavanipratap Rana remarked.
"About once a month, every employee in every organisation on Earth requires internal technical support. Employers are paying billions in direct costs and additional billions in lost employee productivity due to the 20-year-old traditional paradigm of creating tickets and dialling for assistance. Employers and employees are eager to see this transformation, and Rezolve.ai is enabling this new era, according to Saurabh Kumar, CEO of Rezolve.ai.
He continued by saying that it combines the simplicity of collaboration platforms like Microsoft Teams and Slack with a modern employee support desk experience. The issue of insufficient staff assistance within the corporation is addressed. By 2025, it is anticipated that the $3 billion US market for service desk automation would grow to $10 billion in the commercial sector.
Many businesses intend to function in a hybrid environment following the pandemic and feel the need to strengthen and increase staff assistance. As it will be concentrating on this requirement with a share focus on mid-segment and enterprise companies, the company anticipates even quicker growth the next year.
Three alumni of the Indian Institute of Management, Bangalore (IIMB), Saurabh Kumar, Manish Sharma, and Udaya Reddy, started the business in 2017. It competes with firms like Freshdesk, Kahoot, and Jira, among others. Rezolve.ai is based in San Ramon, California, and also has operations in Toronto, India; Chennai, India; and Dehradun, India. However, the US is its biggest market.
"We invested in Rezolve.ai to support the founder's ambition of using rapidly advancing AI capacity to enable existing support platforms to transform from being just a process workstream to an intelligent intermediation layer that minimises human participation. Rezolve is well-positioned to realise its product ambition because to its rapid expansion, positive customer and analyst feedback, and exceptional products. the SIG Venture Capital investment adviser Bhavanipratap Rana remarked.
