[Funding alert] Rezolve.ai Raises $11M Series A led by SIG Venture Capita

Rezolve.ai, a category redefining next-generation AI-powered employee service SaaS Platform, has announced that it has closed around $11 million in Series A-led by the SIG Venture Capital with participation from Exfinity Venture Partners. Existing investors 9Unicorns and Tri Valley Ventures also participated in the round.

The funds will be used to scale growth and further advance the capabilities of the platform to deliver the industry’s most advanced employee service experience.

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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”.

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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.

The company, founded in 2017 by three Indian Institute of Management, Bangalore (IIMB) alumni – Saurabh Kumar, Manish Sharma and Udaya Reddy– competes with players such as Freshdesk, Kahoot, Jira, among others. Headquartered in San Ramon, California, Rezolve.ai has offices in Chennai and Dehradun in India and Toronto in Canada. However, it’s major market is the US.

Rezolve.ai has a customer rating of 5.0 stars in the 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). Over the last 2 years, Rezolve.ai has achieved many notable awards and titles such as Aragon Research 2021 Hot vendor, HFS Research Hot Vendor, ‘Product Challenger’ in ISG’s Provider Lens for Intelligent Automation, Forrester Research’s Notable Vendor in Chatbots for IT Operations Vendor Landscape, Q2 2022, ‘Great User Experience 2021 award’ by Finances Online and Aspirant in Top Conversational AI Technology Vendor Landscape PEAK Matrix® Assessment 2022 by Everest Group. Apart from this, Rezolve.ai is GDPR compliant, SOC 2 Type II compliant, HIPAA certified and ISO 27001 certified service desk.

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About Rezolve.ai

Rezolve.ai is a modern service desk that helps businesses automate their employee support, IT & HR tasks, and processes. Integrated within collaborative channels like MS Teams and Slack, Rezolve.ai offers advanced features such as Smart AI Chatbot, Twitter-Age Knowledge Management, AI-Powered Ticketing, Conversational Microlearning, Push Notifications, Desktop Automation, Live Expert Connect, Task Automation, Workflow Approvals and many more capabilities to elevate the employee experience and create a frictionless workplace.

About SIG Venture Capital

SIG Venture Capital is the Southeast Asian and Indian venture capital arm of the Susquehanna International Group of Companies, a global proprietary trading and investment firm founded in 1987. As part of SIG, we have access to flexible and patient capital to grow with our investments. With 70+ IPO/M&A and other exits and 350+ portfolio companies in enterprise and consumer technology spaces over the last 18 years in Asia, we support founders from their early days through each stage of growth. Our global portfolio includes Agora, Bytedance, Kumu, Inshorts, Lentra, Mobile Premier League, Musical.ly, Paidy, PayMaya and RedDoorz.