Rezolve.ai raises $11 million in latest funding round led by SIG Venture Capital

Existing investors 9Unicorns and Tri Valley Ventures also participated in the round.

The company says it plans to use the funds to scale growth and further advance capabilities of the platform to deliver advanced employee service experience.

“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,” said Saurabh Kumar, CEO, Rezolve.ai.

He added that it brings modern employee service desk experience within the convenience of collaboration platforms like Microsoft Teams and Slack.

The company addresses the problem of ineffective employee support inside the organization. In the US alone, service desk automation is a $3 billion market and is estimated to expand in the enterprise segment to become a $10 billion market by 2025.

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After the pandemic, many companies are planning to operate in a hybrid environment and feel the need to improve and bolster employee support. The company expects an even faster growth next year as it will be focusing on this need with a share focus on mid-segment and enterprise companies.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, its major market is the US.

“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. 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.