22nd June 2024- Bengaluru-based revenue automation startup MeetRecord has successfully raised $2.7 million in a pre-series A funding round led by Singapore-based venture capital fund SWC Global, with participation from existing investor All In Capital. This follows earlier investments of $310,000 in 2021 from All In Capital and Powerhouse Ventures.
Founded in 2021 by Snehal Nimje, MeetRecord specializes in business-to-business (B2B) software-as-a-service (SaaS), utilizing artificial intelligence to analyze conversation data from emails and calls. This data-driven approach offers insights to enhance sales team coaching and implement automated call-scoring systems, thereby boosting sales efficiency.
The funding will primarily support the enhancement of MeetRecord’s flagship product, focusing on advancing the performance and speed of its RevenueLLM engine. The startup aims to revolutionize the sales tech stack for service businesses by leveraging conversational data and AI.
“We are addressing a specific gap in the market tailored for service sector businesses, offering AI-driven coaching and automation tools that are neither overly complex nor too basic,” said Snehal Nimje, CEO of MeetRecord, in an interview with ET.
Currently serving 36 clients, predominantly in the US (80%) and Europe (20%), MeetRecord’s clientele includes prominent names like Top Dog Law and Gym Launch. The startup has shown rapid growth since inception, with an annual recurring revenue (ARR) of $250,000 and plans to achieve $1 million ARR by year-end.
Operating on a subscription model with a 14-day trial period, MeetRecord offers flexible annual or semi-annual plans based on user requirements.
The latest funding round underscores MeetRecord’s commitment to innovating and expanding its offerings in AI-driven sales automation, poised to further strengthen its market presence in the coming years.
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