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11x.ai , a startup that recrudesce AI - powered sale development bots , has secured some $ 50 million in Series B support , TechCrunch has learned . The fresh cycle was run by Andreessen Horowitz , valuing the ship’s company at around $ 350 million , multiple generator told TechCrunch .
The recent deal follows the company’s$24 million Series A , which was led by Benchmark with the participation of other investors include 20VC , Project A , Lux Capital , and SV Angel . While 11x.ai announced its Series A round to begin with this month , we ’ve learned that the deal closed earlier in 2024 . The company was valued at $ 90 million during its Series A , according to one source .
11x.ai and Andreessen Horowitz did n’t like a shot respond to a petition for scuttlebutt .
Hasan Sukkar , 11x ’s founding father and CEO , severalize TechCrunch that the ship’s company is border on $ 10 million in one-year recurring revenue . This connote that investors valued the startup at about 35 times ARR , a multiple that ’s a notch more grounded than heady valuations recentlygarnered by other AI - power companieswith similar revenues . For example , Hebbia , a large document search startup , has bring up a Series B at 54 time ARR , TechCrunch reportedin July .
While Series B put 11x.ai ahead of competitors in terms of valuation and full capital , investors told TechCrunch that it ’s still too other to tell whether the company has established a significant steer over its rivals . 11x.ai is one ofmany chop-chop growing startupsbuilding AI gross revenue developing instance , or AI SDRs . Other startups working on similar solutions include Regie.ai , AiSDR and Artisan . incumbent such asSalesforcehave also introduced production that work as autonomous sale agents .
Although some investors are wary of backing AI SDR startups because it is hard to distinguish these company ’ offerings from each other , 11x ’s Series B evidence that other VCs are not afraid to make a prominent bet on one of these startups .
11x.ai currently has two AI bot , or what the society is calling “ automated digital worker . ” Alice is an AI SDR that handles sales event lead generation , inquiry and customer outreach . The company recently introduce Jordan , an AI phone sales spokesperson that speak over 30 languages and can handle inbound and outbound conversation with prospective human buyers .
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The companytold TechCrunch last yearthat they ’re developing AI bots for endowment acquisition and human resources . Now that 11x.ai has more capital , it may focus on expanding its suite of digital employees beyond just sales representatives .
