Portfolio Update: Exceed.ai Raises $4M Seed Round to further develop its AI Assistant
Exceed.ai has raised $4 million in funding for its AI-powered assistant that helps companies scale their marketing and sales operations by automatically qualifying leads through email, webchat, and SMS. Investors include West Fountain Global Fund and Glilot Capital in participation with angel investors like Alex Pinchev, former President of Red Hat, and Gur Shomron, the Chairman of WalkMe.
Exceed.ai is gaining traction in the conversational marketing space, which is projected to grow to $13.9 billion by 2025. The investment round is reflective of their expanding customer base that includes enterprise clients such as SugarCRM, CBORD, and Universal Robots.
Exceed's proprietary natural language processing engine reaches an accuracy rate of 97% in understanding a lead's responses, and is patent-pending for its innovation in the space.
The assistant responds to questions, objections, and even "I'm not the right person" messages. When a lead is qualified, the AI Assistant books a meeting directly on the corresponding sales representative's calendar. The assistant ultimately works alongside marketing teams to ensure every lead is followed up with, nurtured, and qualified.
In the age of "working from home," the pandemic has accelerated the adoption of AI technology, empowering teams to be more productive. Combined with an endless need for marketing teams to qualify more leads without increasing headcounts and budgets, Exceed.ai's breakthrough technology is making a significant impact with notable B2B clients.
"Some of our clients have seen up to a 39.5% increase in qualified leads for the same marketing efforts they already undertake without additional headcount", says Ilan Kasan, Co-Founder and CEO. "Our strength lies in our multi-channel approach. We reach audiences where crucial conversations occur when marketing teams are qualifying their leads."
Exceed.ai's Yaron Ismah-Moshe, Co-Founder and CPO, adds, "we revolutionize a broken and outdated lead scoring system that's utilized across the industry. Firms are scoring leads based on a prospect's activities, with little insight into their intent. You can only truly understand a customer's needs by engaging in conversations with them. With Exceed.ai you can do it at scale."
Exceed will utilize the funds to accelerate their growth by expanding to new markets and continuing to sign on more marketing teams to transform the way they work.
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