San Antonio, Texas, March 27, 2019 – FunnelAI, the marketing and sales platform that uses artificial intelligence to turn social intent and web activity into prospects for businesses, announced $1.5M in series seed funding. The round was led by Active Capital, followed by Geekdom Fund, London based retail and consumer investor True, and Angels from San Antonio and Houston.
“We are the industry first in connecting businesses with prospective customers in real-time from social platforms by finding high purchase intents using AI. We are more comprehensive than the existing listening tools and lead gen solutions, both in terms of technology and in scope. Our solutions work for every industry, but we are hyper-focused within the auto industry, where we connect various businesses with a wide ecosystem of auto- customers, needing a new car, used car, servicing, parts, aftermarket parts, insurance, and financing,” said Sri Kamma, CEO of FunnelAI.
“At BMW of Austin we’ve found that FunnelAI’s powerful, yet easy to use software allows us to stay connected with our current customers and seek out prospective customers on all of the various avenues of social platforms,” said Chris Markey, General Manager, BMW of Austin
“We topped $1 Million ARR in November 2018 within 15 months of our launch. We are very capital efficient, and a profitable 8 member startup. Sri Kamma added. FunnelAI’s co-founder and Chief Strategy Officer Suja Kamma said “Our seed raise allows us to hire for key functional areas and continue to focus on product innovation catered to the auto industry. We plan to expand into real estate space during the last quarter of this year”.
FunnelAI’s real-time solutions include:
- Customer acquisition from social platforms, community forums, and social sites.
- Multi-channel communication between our app and multiple social platforms.
- Customer Lifecycle Management (CLM) for businesses to proactively engage with their customers based on their life events or purchase intent
- Hyper Ad targeting platform to curate the audiences with purchase intent and target them with relevant ads
- Data and specific insights of their prospective customers, including location-based analytics.
Pat Matthews, Founder of Active Capital, who led the investment round, added, “In just a year, Sri and team have taken the startup from humble beginnings in San Antonio, to one the fastest growing SaaS companies in Texas. We are proud to be their investors from early on, and I truly believe in their product roadmap and growth and want to help with that momentum.”
“Businesses spend billions of dollars every year buying keywords on Google and Facebook,” said Pat Matthews, Founder of Active Capital, who led the investment round for FunnelAI. “Those channels are mature now and the biggest advertisers dominate. Funnel has created a new way for local and regional businesses to tap into consumer intent and drive customer acquisition in a totally different way.”
Paul Cocker, Co-founder of True comments: “True’s seed fund looks to invest in enterprise solutions, technologies, and products that will support fit-for-the-future retail and consumer businesses – which is what we have found in FunnelAI. We’re proud to call FunnelAI our first US investment and are delighted that it’s selected True as its investment partner of choice in the UK as it starts to scale. We’re confident that through our sector specialist Live Network we can support FunnelAI with its international expansion, as well as its growth into new verticals, through our introductions to key decision makers in the retail and consumer sector.”
About FunnelAI:
FunnelAI was founded in 2017 with the vision to help businesses acquire customers in real-time by using Artificial Intelligence (AI). Their mission is to increase growth for businesses by pushing the boundaries of technology, big and open data for a next-generation conversational marketing and sales tools. They offer a true AI based, deep learning & machine-language technology to automate business processes from finding prospects, hyper-targeting customers who only have high intent to purchase, to knowing customer’s journey for a proactive and repeated engagement. To learn more, please visit www.funnelai.com.
About Active Capital:
Active Capital is a venture firm designed to lead seed rounds for B2B SaaS companies. The firm is founded by Pat Matthews, co-founder and former CEO of Webmail.us, a B2B SaaS company that was ranked #217 on the Inc. 500 fastest growing companies in America and sold to Rackspace in 2007. Active Capital is headquartered in San Antonio, Texas and invests in B2B SaaS companies in cities across America. To learn more, please visit www.activecapital.com.
About True
True is Europe’s only retail and consumer sector specialist that operates across the entire investment vertical. True has total funds under management of £200m and invests in retail, consumer and leisure sector business models which represent the future of the industry. True’s Live Network model brings together its private equity companies, startup and growth businesses, investors and industry partners to add value, both strategically and operationally, across the retail and consumer spectrum. To learn more, please visit www.true.global.
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Trademarks
FunnelAI and Aingine are the registered trademarks of FunnelAI.
Contact: FunnelAI PR
Telephone: (972) 532-3748
Email: press@funnelai.com
Website: www.funnelai.com
