The conversational AI market has exploded since Chatgpt was released in November 2022 and is predicted $ 50 billion global industry by 2031According to Marketsandmarkets.
Synthflow AI is just one of the many companies that build in this space that hopes to distinguish itself from the peloton because of the focus on being Enterprise-Grade and easy to set up.
SynthFlow, based on Berlin, is a no-code platform with which Enterprises can build and implement customized white-limited voice AI customer service agents. The company, which was launched in 2023, has collected more than 1,000 customers and handled more than 45 million calls.
The speech agents of the startup are both hipa and GDPR compatible and can be connected to more than 200 integrations with other business platforms, including Salesforce, Twilio and Hubspot, among other things.
Hakob Astabatsyan, co-founder and CEO, Techcrunch told that he and his co-founders, Albert Astabatsyan, now CPO, and Sassun Mirzakhan-Saky, now started rumbling with OpenAi’s chatgpt api in the beginning of 2023 to find potential ways to find potential to find potential to find potential to find potential animals animals animals To find potential ways to build potential ways to build potential ways to build potential ways at the top of the AI model.
They started with a text-to-text AI Bot and then tried to build a speech bone. When they realized how much more difficult voice was, they became enthusiastic about the potential.
“We realized, oh my god, the voice is really complicated, right? To make AI actually speak in real time as we, with this latency of 400 milliseconds and dealing with interruptions, turned out to be such a complicated task,” Astabatssyan said. “We fell in love with this problem, and we said, watching, from now on we will only work on balloters.”
The group formed synthflow and spent the rest of 2023 building. They launched Synthflow’s first version of the product at the beginning of 2024 before they release an enterprise-grade version of the tech at the end of the year. The company grew 15 times last year and, according to Astabatsyan, has retained more than 90% of its business customers.
“We process 5 million calls every month,” he said. “Last year it was as if, I don’t know, 1 million, 2 million, and then we started to grow very quickly. This is where Synthflow really started to get better and better because we had this speed.”
The startup has also recently led a series A round of $ 20 million under the leadership of Accel with participation of existing investors Atlantic Labs and Singular. Astabatsyan said that the company has increased this recent round so that it could expand its team, increase research and development and open its first American office at an undecided location.
Luca Bocchio, a partner at Accel, told Techcrunch that the Accel team Synthflow had followed since it started developing his first product. What stood out on Bocchio was the ride of the founder and the early push in building commercial integrations.
“This team has [had] Really a strong representation since the performance about creating more depth with technology and extensive integrations in CRMs, can use about tools enterprises to really offer compliance with Enterprise-Grade, “said Bocchio.
Regardless of the traction of the company, Conversational AI seems ready as a heavy category. There are many other companies that build in space, including Sierra van Bret Taylor, who has collected $ 285 million in VC money, and Boring aiWho has picked up more than $ 50 million in venture financing to name a few.
“Ai moves so quickly, and sometimes things happen faster than you would expect,” said Astabatsyan. “But it is very clear to us. We are at this stage where I would say [we’re] In a post-product-market-fit era, where we know who our customers are. We have a fairly clear idea what our product trout map is and where we want to be in the next three to five years. “
