Bengaluru-based revenue automation startup MeetRecord has successfully raised $2.7 million in a pre-series A funding round. This round was led by Singapore-based venture capital fund SWC Global, with participation from existing investor All In Capital.
MeetRecord, founded in 2021, aims to empower revenue and sales teams in the service sector by utilizing artificial intelligence (AI) to enhance tools that increase sales and improve customer engagement.
The startup’s business-to-business (B2B) software-as-a-service (SaaS) platform leverages AI to analyze conversation data across various communication channels such as emails and calls. These insights are used to develop coaching programs for sales teams and implement automated call-scoring systems to boost efficiency.
“We are focusing specifically on services businesses, tailoring all our AI-related coaching and automation services to their experience. Existing tools are either too complicated or too simple, but our model is finely tuned for the services sector, which no one else is focusing on,” stated Snehal Nimje, co-founder and CEO of MeetRecord.
Prior to this round, MeetRecord raised $310,000 in 2021 from All In Capital and Powerhouse Ventures. The company currently serves 36 clients, with 80% based in the United States and the remaining 20% in Europe. Major clients include the law firm Top Dog Law and gym training consulting company Gym Launch.
MeetRecord ensures the secure use of conversation data to train sales teams by complying with Service Organisation Control-2 (SOC-2) and General Data Protection Regulation (GDPR) standards. The platform operates on a subscription model that includes a 14-day trial period, after which businesses can choose between annual or semi-annual subscription plans, with pricing varying based on the number of users.
The company currently boasts an annual recurring revenue (ARR) of $250,000 and aims to reach an ARR of $1 million by the end of the year.
“We expect strong growth in the conversation intelligence market as companies aim to enhance their sales efficiency. MeetRecord, with its innovative focus on revenue automation, has developed a top-tier product that delivers significant value,” remarked Tuck Lye Koh, founding partner of SWC Global.
This strategic investment is expected to fuel MeetRecord’s expansion and innovation efforts, further solidifying its position in the rapidly growing conversation intelligence market.
