The funding round was led by Canaan Partner, and also saw participation from existing investor Peak XV Partners, Wing Ventures, among others
Interpret provides AI models to analyse large volumes of unstructured customer feedback across all channels and provide unified data to CXOs of various teams
The startup said it will use the fresh funding for scaling up its marketing and sales team and to deploy no-code AI agents
Enterprise tech startup Enterpret has raised $20.8 Mn (over INR 175 Cr) in its Series A funding round led by Canaan Partner.
The round also saw participation from Kleiner Perkins, existing investor Peak XV Partners, Wing Ventures, and Recall Capital. A number of angel investors, including Notion’s head of product growth Lauryn Motamedi, Dropbox’s vice president of growth and data Elena Verna, Linear’s head of product Nan Yu, among others, also participated in the round.
In a statement, the startup said it will use the fresh funding for scaling up its marketing and sales team and to deploy no-code AI agents to bridge the divide between customers and teams.
Founded in 2020 by brothers Varun Sharma and Arnav Sharma, Enterpret uses artificial intelligence models to unify and analyse large volumes of unstructured customer feedback across all channels to extract key themes, sentiment, underlying issues, and topics, helping CXOs identify patterns and improve customer satisfaction.
“At Enterpret, we are building the operating system for customer centricity. Customer interactions are a precious yet immensely underutilised data set for all enterprises that can now be unlocked meaningfully for the first time ever in this post-LLM world to build best-in-class products and drive business growth,” cofounder and CEO Varun said.
The startup counts the likes of Monday.com, Canva, Notion, Loom (Atlassian), The Browser Company, Hootsuite, Nextdoor, Strava, Linear and Vimeo among its clients. It claims to have doubled its ARR in the past year.
Commenting on the decision to double down on its seed investment, Peak XV MD Harshjit Sethi said, “Enterpret is the prototypical GenAI company. It solves a real business problem in a completely new manner only possible because of technological advancements… The quality of customers Enterpret has been able to onboard is exceptional – something we have rarely seen in a seed-stage company emerging from India.”
The development comes at a time when enterprise tech startups continue to be investors’ favourite. Enterprise tech was the second-most funded sector in the September quarter of 2024, with startups in the segment raising $549 Mn across 52 deals.
Besides, AI startups continue to grab investors’ attention amid the global generative AI (GenAI) boom. Over 200 Indian AI startups have raised a total funding of over $1.2 Bn since 2020, as per Inc42 data.
The global conversational AI market, widely adopted by enterprises for its efficiency and cost-saving benefits, is expected to clock a CAGR of 22.6% and reach a size of $29.8 Bn by 2028 from $10.7 Bn in 2023.
