Convin, an AI-powered conversation intelligence platform, has successfully raised $6.5 million in its Series A funding round, led by India Quotient, with participation from prominent investors, including JSW, Titan Capital Winners Fund, Kalaari Capital, Sparrow Capital, and 9Unicorns.
The fresh capital raised by the Bengaluru-based platform will be channelled into expanding Convin’s core team and strengthening its distribution channels.
The company has grown 3x over the past year, now serving over 80 clients, including major brands like Reliance, Nippon, Puravankara, Titan, Thyrocare, and Lazypay. With the new funding, the company projects a 200% increase in new customers and a threefold revenue increase in 2024–25.
“With this new infusion of capital, we’re ready to significantly expand our team and distribution channels. Convin’s growth has been nothing short of remarkable—we’ve tripled over the past year, serving 80+ clients, including major brands like Reliance Nippon Puravankara, Titan, Thyrocare, and Lazypay. Our expansion extends beyond India, into Southeast Asia, and with our enhanced AI capabilities, we’re projecting a 200% increase in customer acquisition and a 3x revenue boost in 2024-25,” Ashish Santhalia, CEO of Convin
Commenting on the investment, Gagan Goyal, General Partner at India Quotient, said, “At India Quotient, we are highly optimistic about the transformative potential of AI-driven Human-in-the-loop copilots for the call center industry, encompassing sales, support, and collections. Convin aims to enhance agent productivity, thereby boosting revenues, improving upsell and cross-sell opportunities, and increasing customer retention. Our enthusiasm for this investment is further fueled by the founders’ deep domain knowledge and proven track record of successful execution.”
Adding to India Quotient’s comment, Managing Partner at JSW Ventures, Sachin Tagra said, “Convin has made impressive strides with their AI-driven products for customer-facing teams, achieving product-market fit and scaling revenue quickly. With this investment, they’re poised to reach new milestones in both product development and technology, while also enhancing their sales capabilities. This positions them well to tap into the extensive opportunities in the AI-driven contact center space.”
Shiv Kapoor, Vice President, Titan Capital Winners Fund said, “We at Titan Capital have been associated with Convin for over three years, during which they’ve made significant progress and earned the trust of their customers. Their technical expertise and customer focus are key to building a strong company, and we’re confident in the future of this sector and Convin’s role in it.”
Convin, founded in 2021 by IIT-Delhi alumni Ashish Santhalia (CEO), Bharat Patidar (COO), Atul Shree (CTO), and Durgesh Choudhary (CPO), Convin empowers customer-facing teams—such as sales, support, and collections—with AI-based tools to track and analyse agent-customer interactions.
Convin’s platform is segmented into three core product suites: the Real-Time Suite, the Post-interaction Suite, and the Convin Insights Suite. These suites tackle critical challenges such as agent inefficiencies, misselling, poor conversion rates, and suboptimal customer experience across various industries, including Insurtech, Fintech, E-commerce, Edtech, Retail, Hospitality and Travel, Real Estate, Healthtech, BPOs, Banks, and Airlines.
Convin’s innovation is its proprietary Convin LLM (Large Language Model) and the Generative AI product suite. The 7-billion-parameter Convin LLM is explicitly tailored for Indian contact centers. This model supports over 35 languages, including 23 Indic languages, and has been trained on over 200 billion tokens. Its performance surpasses leading models like GPT-3.5 by 40% and GPT-4 Turbo by 20%, offering unparalleled accuracy and reliability in processing diverse and complex customer interactions.
Convin’s excellence in the AI and contact center domains has not gone unnoticed. The company was recently honoured in G2’s Best Software Awards 2024, securing top positions in the “Best AI Products” and “Top 100 Software Products” categories.
Early-stage institutional venture capital fund IndiQuotient invests in technology-led startups at seed to Series A stages. Its portfolio companies include ShareChat, Sugar Cosmetics, Giva, Kuku FM, WebEngage, and Vyapar.
