Enterprise chatbot startup Avaamo raised $14.2 million in Series A funding, the round was led by Intel Capital, but also included investment from Ericsson Ventures, Mahindra Partners, Wipro Ventures, and WI Harper.
Avaamo is a deep-learning software company that specializes in conversational interfaces to solve specific, high impact problems in the enterprise. Avaamo is building fundamental AI technology across a broad area of neural networks, speech synthesis and deep learning to make conversational computing for the enterprise a reality.
It was started in 2014 by Menon and Sriram Chakravarthy. Menon is the Avaamo’s CEO while Chakravarthy is the CTO.
Ram brings over two decades of experience in enterprise software. Previously Ram was the President of Social Computing at TIBCO. He founded the division and built the business from scratch into a leader in Social Business Software with 9 Million paid users in just two years.
Sriram brings over 15 years of engineering experience in designing massively scalable distributed software. Previously Sriram was Vice President of Products for the Social Computing division at TIBCO where he was responsible for building tibbr, TIBCO’s SaaS based Social Computing platform.
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“Avaamo’s conversational intelligent assistants are already deployed globally in more than 40 countries and even greater global expansion is on the horizon as enterprises seek an AI-based conversational computing solution to improve last mile automation,” said Ram Menon, co-founder and CEO of Avaamo, in a statement.