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AI Innovator 11x.ai Secures $50M in Series B Funding Led by A16Z

2 min read

In an electrifying leap for the AI industry, 11x.ai, the pioneering startup known for developing AI-powered sales reps, has clinched an impressive $50 million in Series B funding, guided by Andreessen Horowitz.

This funding milestone positions 11x.ai with a valuation around the $350 million mark, multiple sources have disclosed. This marks a significant leap from their Series A round earlier this month, which closed at $24 million and evaluated the company at $90 million.

As one of the rapidly expanding players in the AI sales development space, 11x.ai is not alone. Competitors such as Reggie.ai, AiSDR, Artisan, and even established companies like Salesforce, are also exploring the vast potential of autonomous sales agents.

Founder and CEO Hasan Sukkar shared that the company is nearing $10 million in annual recurring revenue. He noted, “Investors have valued the startup at about 35 times ARR, a multiple grounded in the realistic growth we’ve demonstrated.” This contrasts with companies like Hebbia, whose valuations soar at 54 times ARR.

11x.ai’s confidence is backed by their innovative AI bots, dubbed ‘automated digital workers.’ Their flagship bots, Alice and Jordan, are revolutionizing sales processes. Alice handles sales lead generation, research, and customer outreach. Meanwhile, Jordan, adept in over 30 languages, manages phone conversations with prospective clients. This versatile technology speaks to the broader horizon 11x.ai aims to conquer.

The recent investment could propel 11x.ai to expand beyond sales, venturing into AI-driven solutions in talent acquisition and human resources. This ambition underscores the growing influence and scalability of AI across various industries.

The Series B funding, though a testament to 11x.ai’s current success, also signifies the high stakes and competitive nature of the AI landscape. Despite some investors’ reservations about the homogeneity of AI SDR offerings, others are boldly backing ventures like 11x.ai, ushering in a new era of digital workforce.

With fresh capital and a clear vision, 11x.ai is poised to redefine the realm of AI sales representatives and beyond. This significant investment underscores the market’s confidence in their innovative approach and future growth potential.

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