DevRev raises $100.8 million in Sequence A funding and turns into an AI unicorn at a $1.15 billion valuation

Palo Alto, CA — October 2024 — Following its profitable Sequence A funding spherical in August 2024, the place DevRev secured $100.8 million and reached a $1.15 billion valuation, the corporate continues to drive ahead its mission to revolutionize buyer help and product growth. Led by Khosla Ventures with participation from Mayfield Fund, Param Hansa Values, U First Capital, and a number of other accelerators, household places of work, and angel traders, this funding highlights the rising potential of AI-native enterprise software program.

Fueling this mission is DevRev’s AgentOS platform, which is quickly advancing GenAI adoption in enterprises. By providing seamless 1-click information migration from legacy techniques and deploying light-weight AI brokers, DevRev is setting a brand new customary for a way companies combine and profit from AI. 

A visionary method to developer-customer interplay

DevRev, based in October 2020 by Dheeraj Pandey, former co-founder and CEO of Nutanix, and Manoj Agarwal, former SVP of Engineering at Nutanix, goals to transform how companies join builders immediately with prospects and income. The corporate was born out of a easy but highly effective realization:

“As we speak, each firm is a software program firm, but we isolate builders from prospects and income…Our mission is to interrupt down these boundaries and empower builders to create customer-conscious merchandise and companies.” — Dheeraj Pandey, CEO of DevRev

DevRev’s data graph powers its AgentOS, delivering AI-native options that streamline customer support, product administration, and software program engineering. The platform is already trusted by prospects throughout all main geographies, varied industries, and quite a few firm sizes, together with most of the international main gamers throughout AI, SaaS, and monetary companies.

By analyzing structured and unstructured information — from buyer conversations to session analytics – the platform’s distinctive method permits builders to attach their code on to manufacturing points and buyer interactions. From there, DevRev’s AI-driven brokers are in a position to automate enterprise workflows to scale back guide effort, improve operational effectivity, and speed up response occasions.

“We’ve got invested closely within the generative AI sector. We’ve observed that to totally harness the potential of AI, the underlying information and data infrastructure have to be reimagined and rebuilt. DevRev is on the forefront of enabling AI adoption in enterprises, due to its progressive product structure. Moreover, DevRev is pioneering a brand new imaginative and prescient for organizational construction by breaking down inner silos, fostering better collaboration and effectivity throughout the corporate.” — Dr. Ekta Dang, CEO of U First Capital

AI brokers on data graphs

Organizations at this time undergo from expertise complexity that siloes round departments and their respective apps, information, and workflows, which ends up in poor buyer experiences, delays in product growth, and sometimes constructing the unsuitable software program.

DevRev believes that this complexity will be meaningfully resolved by AI-on-Data Graphs, which mixes the rising energy of GenAI and a corporation’s personal techniques mapped into Data Graphs. Whereas AI is proving to be highly effective, organizations are realizing that with out Data Graphs, they both find yourself with AI copilots on single apps or AI copilots on huge information lakes with little-to-no context or definition.

The answer begins by creating a corporation’s Data Graph by ingesting information from 2-way actual time integrations with a corporation’s CRM, help, and engineering functions, together with the underlying code repositories. By doing so, the Data Graph understands the product (software program), the shoppers (customers), the folks (workers), and the workflows concerned, together with distinctive components to the group, similar to safety and customizations. As soon as mapped, prospects and workers can run queries by means of AI Brokers to not solely return extra correct search outcomes, but in addition energy techniques of motion shortly throughout the group. That is the productiveness promise GenAI holds, which is simply enabled by the contextual mapping that Data Graphs gives.

With DevRev’s Data Graph platform and information from main system of document functions which are ingested real-time into DevRev, DevRev creates an interdependent community of buyer, person, product, worker, work and utilization information.

Put merely, DevRev contains each the front-end functions and the back-end Data Graphs to investigate, contextualize, and act on enterprise information, enabling organizations to:

• Achieve Deep Organizational Insights: spot rising tendencies and linkages throughout prospects, merchandise, and workers to higher inform strategic planning
• Enhance Focus: join the dots between product / engineering roadmaps and buyer affect to higher prioritize and allocate assets
• Enhance Operational Effectivity: streamline operations by figuring out bottlenecks, eliminating redundancies, and automating workflows throughout the group
• Improve Buyer Expertise: achieve a complete understanding of buyer interactions and suggestions, resulting in extra customized and efficient service

About DevRev

DevRev’s mission is to assist construct the world’s most customer-centric corporations, embracing the precept that “much less is best.” Based in October 2020 by Dheeraj Pandey and Manoj Agarwal, DevRev is headquartered in Palo Alto, California, with places of work in seven international areas. For extra info, go to DevRev’s web site.

About U First Capital

Led by two technical PhDs primarily based in Silicon Valley for over twenty years, U First Capital’s focus is to spend money on stellar founders. The agency has invested in over twenty 5 category-leading corporations like Anthropic, Cohere AI, Rubrik, Worldcoin, Pensando, Palantir, Uniphore, and Nile. For extra info, go to U First Capital’s web site.