As businesses grapple with complex payment ecosystems, Verituity offers a seamless, end-to-end solution that simplifies and streamlines payment workflows, ensuring accuracy, efficiency, and security.

What is Verituity?

Verituity is a pioneering platform designed to revolutionize how enterprises manage their payment operations. By integrating advanced technologies such as AI and machine learning, Verituity automates payment processes, reducing errors and enhancing operational efficiency. This innovative approach ensures that businesses can focus on their core activities while Verituity takes care of the intricate details of payment operations.

Key Features and Benefits

1. End-to-End Payment Automation:
   Verituity’s platform offers comprehensive automation of the entire payment process. From initiation to reconciliation, every step is meticulously handled, minimizing manual intervention and the risk of errors.
2. Enhanced Security:
   In an era where cybersecurity is paramount, Verituity provides robust security measures. The platform ensures that all transactions are encrypted and secure, safeguarding sensitive financial information from potential threats.
3. AI and Machine Learning Integration:
   Leveraging the power of AI and machine learning, Verituity’s platform continuously learns and adapts to optimize payment workflows. This smart technology not only increases efficiency but also provides valuable insights for strategic decision-making.
4. Scalability:
   Whether a small startup or a large enterprise, Verituity’s scalable solution caters to businesses of all sizes. The platform’s flexibility allows it to grow with your business, ensuring that your payment operations remain efficient as your business expands.
5. Seamless Integration:
   Verituity is designed to integrate seamlessly with existing enterprise systems. This ensures a smooth transition and minimal disruption to ongoing operations, allowing businesses to quickly reap the benefits of the platform.

Why Choose Verituity?

1. Reduction in Operational Costs:
   By automating payment processes, Verituity significantly reduces the need for manual labor, resulting in substantial cost savings for businesses.
2. Improved Accuracy:
   Automated processes are less prone to errors compared to manual operations. Verituity ensures that payments are processed accurately and on time, enhancing the reliability of your payment operations.
3. Regulatory Compliance:
   Navigating the complex landscape of regulatory requirements can be challenging. Verituity ensures compliance with industry standards and regulations, reducing the risk of legal complications.
4. Customer Satisfaction:
   Efficient payment operations contribute to better customer experiences. Verituity’s platform ensures that payments are processed swiftly and accurately, enhancing customer satisfaction and loyalty.

Real-World Applications

Verituity is already making a significant impact across various industries. Financial institutions, healthcare providers, and retail businesses are among the many sectors benefiting from Verituity’s innovative payment solutions. The platform’s ability to handle high volumes of transactions with precision and speed makes it an invaluable asset for businesses aiming to optimize their payment operations.

Conclusion

Verituity offers a transformative solution for enterprises seeking to streamline their payment operations. By harnessing the power of AI and machine learning, Verituity not only enhances operational efficiency but also provides a secure and scalable solution for businesses of all sizes. Embrace the future of payment operations with Verituity and experience the difference it can make for your enterprise.

Venkat

The post Verituity appeared first on Venkat Startups.

Sanplex is a cutting-edge project management tool designed specifically for teams and enterprises handling intricate workflows. Sanplex offers a comprehensive solution that integrates management and execution layers seamlessly, ensuring that projects are completed on time and within budget. Let’s dive into how Sanplex is transforming the landscape of project management and meet the brilliant minds behind this innovative platform.

Sanplex Video

Project Management tool for Hardware & Software Development

Sanplex is tailored for teams and enterprises with complex projects, providing a development workflow that covers all aspects of management and execution. Whether you’re dealing with multi-faceted tasks, large-scale projects, or intricate timelines, Sanplex ensures that every component of your project is meticulously organized and executed.

Key Features of Sanplex

1. Integrated Workflow Management: Sanplex’s platform brings all management and execution layers under one roof, allowing for streamlined communication and coordination across teams.
2. Real-Time Collaboration: With Sanplex, team members can collaborate in real-time, making it easier to stay updated on project progress, share feedback, and make decisions swiftly.
3. Advanced Analytics and Reporting: Sanplex offers robust analytics and reporting tools that provide insights into project performance, helping teams identify bottlenecks and optimize processes.
4. Customizable Dashboards: Users can create personalized dashboards to track key performance indicators (KPIs) and monitor project milestones, ensuring that all critical aspects of the project are under control.
5. Scalability: Sanplex is designed to grow with your organization, accommodating the increasing complexity of projects as your business expands.

Meet the Founders

Kelsea Zhang, Co-Founder of Sanplex

With extensive experience in project management and software development, Kelsea co-founded Sanplex to address the challenges she observed in traditional project management tools. Her leadership and strategic insights have been instrumental in shaping Sanplex into a leading solution for enterprise project management.

Philip Gao, Co-Founder of Sanplex

Philip Gao brings a wealth of knowledge and expertise to Sanplex. As a co-founder, Philip has played a pivotal role in developing the platform’s core functionalities and ensuring its scalability. His technical acumen and dedication to excellence have been key drivers in Sanplex’s success.

Transform Your Project Management with Sanplex

Sanplex is more than just a project management tool; it’s a comprehensive solution designed to meet the needs of modern enterprises. By integrating management and execution layers into a single platform, Sanplex enables teams to work more efficiently, collaborate effectively, and achieve their project goals with ease.

Summary

Sanplex is setting a new standard in project management for enterprises. With its robust features, real-time collaboration capabilities, Sanplex is poised to become an indispensable tool for any organization looking to streamline its project workflows. Embrace the future of project management with Sanplex and take your business to new heights.

Venkat

The post Sanplex appeared first on Venkat Startups.

About Forge – Procurement Management Software

In today’s fast-paced tech landscape, efficient hardware procurement is essential for maintaining a competitive edge. Enter Forge, a revolutionary platform designed to simplify and streamline the hardware procurement process. Founded by Emir Sahmanovic (CEO) and Haris Sahmanovic (CTO), Forge brings all aspects of hardware procurement under one platform, making it easier for teams to get their parts made while maintaining full visibility and control over purchases and procurement policies.

What is Forge?

Forge is a comprehensive platform that centralizes hardware procurement, allowing teams to manage their parts, track purchases, and enforce procurement policies effortlessly. By integrating all these elements into a single platform, Forge eliminates the complexities and inefficiencies often associated with hardware procurement.

Key Features of Forge

1. Unified Procurement Platform: Forge provides a single platform where teams can handle all aspects of hardware procurement. This includes ordering parts, tracking their status, and managing purchases.
2. Purchase Visibility: Teams can gain full insight into their hardware purchases, allowing for better coordination and oversight. This transparency ensures that all team members are on the same page, reducing miscommunications and delays.
3. Policy Enforcement: Forge allows companies to set and enforce procurement policies in a straightforward manner. This feature ensures that all purchases comply with company guidelines, promoting consistency and accountability.
4. Streamlined Communication: The platform fosters better communication among team members by providing real-time updates on the status of parts and purchases. This feature helps to avoid bottlenecks and keeps projects on track.

The Vision Behind Forge

Emir Sahmanovic, Co-Founder & CEO, and Haris Sahmanovic, Co-Founder & CTO, founded Forge with a clear vision: to simplify the hardware procurement process for modern teams. Both Emir and Haris bring a wealth of experience and expertise to the table, with backgrounds in engineering and technology.

Haris Sahmanovic complements this vision with his technical acumen. As CTO, Haris is responsible for the technological backbone of Forge, ensuring the platform is robust, scalable, and user-friendly. His prior experience in engineering and technology solutions plays a crucial role in Forge’s success.

Why Choose Forge?

1. Efficiency: By consolidating hardware procurement processes, Forge reduces the time and effort required to manage purchases and parts. This efficiency translates to faster project completion and reduced operational costs.
2. Transparency: With full visibility into purchases and parts status, teams can make informed decisions quickly. This transparency is crucial for maintaining control over budgets and timelines.
3. Compliance: Forge’s policy enforcement feature ensures that all purchases adhere to company guidelines, reducing the risk of non-compliance and its associated costs.
4. Scalability: Whether you’re a small startup or a large enterprise, Forge scales with your needs, making it a versatile solution for companies of all sizes.

Summary

By bringing everything related to hardware procurement under one platform, Forge empowers teams to work more efficiently, transparently, and in compliance with company policies. Forge is set to revolutionize how companies manage their hardware procurement needs.

Venkat

The post Forge appeared first on Venkat Startups.

Keeping up with the competition in the fast-paced sales and marketing industry requires using cutting-edge technology to optimize processes and stay one step ahead. Apten is a customizable AI assistant that is leading the way in this space. Its purpose is to qualify and nurture leads through SMS text. Daniel Ho and Roshan Kumaraswamy’s Apten is going to change the game when it comes to how companies connect with prospective clients.

Apten.ai Video

Apten Founders

Daniel Ho, the co-founder and CEO of Apten, brings a wealth of experience and a visionary approach to the company. With a strong background in technology and a passion for innovation, Daniel has been instrumental in shaping Apten’s strategic direction and product development. His LinkedIn profile showcases a career marked by successful ventures and a dedication to leveraging AI to solve real-world problems.

Roshan Kumaraswamy, the co-founder, complements Daniel’s expertise with his own impressive track record in the tech industry. Roshan’s skills in product management and development have been crucial in bringing Apten’s AI assistant to life. His LinkedIn profile reflects a commitment to creating solutions that drive efficiency and effectiveness in business operations.

About Apten

Apten stands out with its unique approach to lead qualification and nurturing. Here’s what makes Apten a game-changer:

1. Proactive Engagement: Unlike traditional lead nurturing tools that rely on manual input and follow-ups, Apten’s AI assistant proactively reaches out to leads. It initiates conversations, responds in real-time, and ensures no lead falls through the cracks.
2. 24/7 Availability: One of the standout features of Apten is its ability to respond at any time. In today’s global market, leads can come in from different time zones, and the ability to engage them immediately can be the difference between a conversion and a lost opportunity.
3. Personalized Follow-Ups: Apten’s AI is designed to remember and act on follow-ups. It personalizes interactions based on previous conversations, making each lead feel valued and understood. This level of customization can significantly enhance the lead nurturing process, leading to higher conversion rates.
4. Scalability: As businesses grow, so does the volume of leads. Apten scales effortlessly to handle increasing volumes without compromising on the quality of interaction. This scalability ensures that businesses can maintain a high level of engagement as they expand.

The Future of Lead Nurturing

The introduction of AI in lead nurturing is not just a trend but a fundamental shift in how businesses operate. Apten’s innovative approach is a testament to the potential of AI to transform traditional processes. By automating and enhancing lead interactions, Apten allows sales teams to focus on what they do best – closing deals and building relationships.

For businesses looking to stay competitive and efficient, integrating Apten into their sales strategy could be a game-changing move. With its proactive, personalized, and scalable AI assistant, Apten is set to redefine the future of lead nurturing.

Venkat

The post Apten appeared first on Venkat Startups.

mpathic is revolutionizing how businesses in life sciences, healthcare, and client services understand and interact with human behavior through their innovative AI-powered solutions.

The Visionary Behind mpathic

Dr. Grin Lord, the company’s founder and CEO, is at the center of mpathic. Due to her clinical psychology training and vast experience in healthcare innovation, Dr. Lord offers a distinct viewpoint to the tech industry. Her path from medical professional to tech entrepreneur has been characterized by her unwavering faith in the efficacy of empathy. In addition to creating a profitable business, Dr. Lord wants to use mpathic to develop technology that improves results in a variety of fields by strengthening human connections.

mpathic: Marrying Empathy with Technology

The company’s mission is to foster accurate understanding by embedding empathy into real-time conversation analytics. This approach not only improves interactions but also significantly enhances outcomes in critical fields such as life sciences, healthcare, and client services.

With over a decade of scientific validation, mpathic’s proprietary machine learning (ML) models are designed to deliver unparalleled accuracy. These models are capable of detecting, correcting, and enhancing over 200 human behaviors with precision akin to that of human doctors. This level of accuracy ensures that the insights provided by mpathic’s technology are both reliable and actionable.

mpathic’s Suite of Products

mpathic’s innovative solutions are encapsulated in three primary products: mTrial, mConsult, and the mpathic API. Each product leverages the company’s core technology to address specific challenges in their respective fields.

1. mTrial: This product is tailored for the life sciences sector, particularly in the realm of clinical trials. mTrial harnesses the power of AI to optimize clinical trial processes, ensuring more accurate data collection and analysis. By integrating empathy into the analytical process, mTrial not only enhances the efficiency of trials but also ensures that the patient’s experience is at the forefront.

Key features of mTrail

1. Facilitates data-driven decision-making and easy navigating of the complexities of clinical trials.
2. Uses automated monitoring to ensure quality at scale across multiple trial sites.
3. Improves patient safety by reducing unintentional risks during clinical trials.
4. Offers fidelity analysis and real-time feedback for efficient trial monitoring.

2.mConsult: Targeted at the healthcare industry, mConsult offers AI-assisted empathy tools designed to improve patient engagement. The product analyzes real-time conversations between healthcare providers and patients, offering insights and suggestions to enhance communication. This not only improves patient satisfaction but also leads to better health outcomes by ensuring patients feel heard and understood.

Key features of mConsult

1. Offers generative suggestions, tips, and real-time detection to improve communication between patients and clients.
2. Uses AI-assisted engagement strategies to help lower patient and client attrition.
3. Guarantees that customer service agents and patient engagement agents receive the best possible training.

3.mpathic API: For businesses looking to integrate mpathic’s empathy-driven analytics into their existing platforms, the mpathic API provides a flexible and powerful solution. This API allows for seamless integration, enabling companies to leverage mpathic’s advanced ML models to enhance their own services.

Key features of mpathic API

• Delivers personalized, empathetic responses in real-time
• Augments user experience with insightful communication tips
• Provides analytical data to aid performance improvement
• Enables ease of integration for enhanced SaaS capabilities

Transforming Industries Through Empathy

mpathic’s technology is making significant waves across multiple industries. In the life sciences, the accuracy and efficiency brought by mTrial are accelerating the pace of clinical research. By ensuring that trials are more patient-centric, mTrial is helping to bring new treatments to market faster and more efficiently.

In healthcare, mConsult is transforming patient-provider interactions. By providing real-time feedback and suggestions, mConsult is helping healthcare providers communicate more effectively, leading to improved patient satisfaction and better health outcomes. This is particularly crucial in an industry where the quality of interaction can significantly impact a patient’s wellbeing.

Client services, too, are benefiting from mpathic’s innovations. Businesses that integrate the mpathic API into their platforms can offer enhanced customer experiences. By understanding and responding to customer emotions in real-time, companies can build stronger relationships and improve customer loyalty.

The Future of Empathy in AI

mpathic is not just a technology company; it is a pioneer in the integration of empathy into AI. The company’s groundbreaking work is setting new standards for what AI can achieve. As more businesses across various sectors begin to recognize the value of empathy-driven analytics, mpathic is poised to lead the way in this new era of AI.

Under the visionary leadership of Dr. Grin Lord, mpathic continues to push the boundaries of what is possible, ensuring that as technology advances, it remains firmly rooted in the human experience. In a world where understanding and connection are often overlooked, mpathic stands as a beacon of hope, reminding us that the future of AI is not just intelligent but also empathetic.

Venkat

The post mpathic appeared first on Venkat Startups.

In today’s data-driven world, businesses are increasingly turning to artificial intelligence (AI) to gain a competitive edge. However, as AI systems become more complex, so too do the risks associated with them.

Monitaur is an AI governance platform that helps companies build, manage, and automate responsible and ethical governance across consequential modeling systems. It provides a comprehensive and turnkey solution for model risk management and governance that spans policy to proof.

What is AI Governance?

AI governance is the process of establishing and enforcing policies, procedures, and controls to ensure that AI systems are used responsibly and ethically. This includes ensuring that AI systems are fair, robust, transparent, safe, and compliant.

Why is AI Governance Important?

There are a number of reasons why AI governance is important. First, it can help to mitigate the risks associated with AI systems. These risks include bias, discrimination, and privacy violations.

Second, AI governance can help to build trust in AI systems. This is important because AI systems are often used to make decisions that have a significant impact on people’s lives.

Finally, AI governance can help to ensure that AI systems are used in a way that is aligned with an organization’s values. This is important because AI systems can have a profound impact on an organization’s culture and reputation.

How Does Monitaur Help?

Monitaur helps companies to achieve AI governance through its software platform. The platform provides a number of features, including:

• A system of record for model governance: This allows companies to track the development, deployment, and use of AI models.
• A workflow engine for model risk management: This helps companies to identify, assess, and mitigate the risks associated with AI models.
• A library of best practices: This provides companies with guidance on how to implement AI governance effectively.

Benefits of Using Monitaur

There are a number of benefits to using Monitaur, including:

• Reduced risk: Monitaur can help companies to mitigate the risks associated with AI systems.
• Increased trust: Monitaur can help companies to build trust in AI systems.
• Improved compliance: Monitaur can help companies to comply with AI regulations.
• Enhanced decision-making: Monitaur can help companies to make better decisions about AI systems.

Summary

Monitaur is an essential tool for any company that is using AI. It can help companies to mitigate risk, build trust, and improve compliance. If you are serious about using AI responsibly, then you need to consider using Monitaur.

From their YouTube Channel

Venkat

The post Monitaur: The AI Governance Platform That Helps Companies Mitigate Risk and Build Trust appeared first on Venkat Startups.

Neurable Inc., the neurotechnology company democratizing BCI technology, announced today that it has raised an additional $13 million in funding from Ultratech Capital Partners, TRAC, Pace Ventures, and Metaplanet.

With over $30 million raised since its founding, Neurable is working with its robust licensing partnership network to make easy-to-use neurotechnology a reality, including through the upcoming launch of the Neurable AI-powered MW75 Neuro headphones.

With the help of this additional funding, Neurable will keep developing its platform and granting businesses and OEMs access to its unique, non-invasive BCI technology, which will then be broadly accessible to consumer audiences. In order to improve human performance, this entails broadening the company’s range of products, reference designs, algorithms, and enabled systems to include earbuds, helmets, and other head-worn devices.

“This new round of funding underscores our commitment to making Neurable’s brain-computer interface technology accessible to everyone,” said Dr. Ramses Alcaide, CEO and Co-Founder of Neurable. “We’re empowering individuals to understand their own mind, optimize human performance, and conquer the most pressing health challenges of our generation.”

Thanks to its unique and powerful electroencephalography (EEG) AI technology optimized for more compact form factors than traditional external brain wave monitoring devices, Neurable’s AI-powered platform records wearers’ brain activity and gives people their brain data in a non-invasive manner.

“Neurable’s transformative neurotechnology is at the forefront of the BCI revolution,” said Dale Davis, Senior Principal at Ultratech Capital Partners.

“BCI technology has gained significant momentum over the years, and its advancement shows no signs of slowing down. Neurable’s BCI has the potential to solve a range of vexing issues — from healthcare to daily life. BCI integrated into our devices, and a critical part of our everyday experience was once the stuff of science fiction — thanks to Neurable, that dream will soon be a reality.”

Originally a University of Michigan spinout, Neurable has partnered with consumer wearable companies, such as Master & Dynamic, a headphone company, to further its mission of integrating EEG sensors into common technologies. Neurable received Series A funding in 2020. The collaboration will launch the MW75 Neuro, the first-ever BCI-enabled headphones, this summer. With the additional funding, Neurable will be able to carry out its long-term goals of developing its platform technology and giving customers even more insight into how the brain functions.

In order to validate its technology and investigate its potential applications for enhancing human performance, Neurable also collaborated with the 711 Human-Performance Wing of the Air Force Research Lab after completing Series A. Building on this fruitful partnership, Neurable was able to obtain contracts worth $5 million from the Department of Defense to continue developing this state-of-the-art human technology in order to enhance the performance and health of soldiers.

“We’re extremely proud to work with our partners, which include some of the world’s best in consumer technology like Master & Dynamic as well as the very servicemen and women who make sacrifices on a daily basis for the overall security of our nation,” said Adam Molnar, Co-Founder and Vice President of Strategic Partnerships at Neurable. “This is just the beginning. We can’t wait to show you what’s coming next.”

Venkat

The post Neurable Inc. Raises $13M | Brain-Computer Interface Technology in Everyday Products appeared first on Venkat Startups.

Anetac, a Silicon Valley startup protecting companies from blind spots of service accounts in hybrid environments, announced its emergence from stealth mode. The company also announced a funding investment totaling $16 million which will bring necessary disruption to the identity and security market by providing an intuitive, rapidly deployable SaaS solution. The streaming solution offers real-time visibility, enabling users to discover, monitor and respond to the large threat surface exploited via service accounts. These threats include but are not limited to large standing privileges, shared use, lack of credential rotation and dormancy of an account.

The Anetac Dynamic Identity and Security Platform was forged to tackle a problem plaguing nearly every organization in every industry: unmonitored or poorly monitored service accounts, tokens, API and access keys. According to Anetac research data, service accounts outnumber user accounts by 30-45 times.

Unlike static scanning tools, Anetac’s solution offers real-time streaming and visibility into service account access chains, protocols, security hygiene, privilege escalations and indicators of attack and compromise, enabling security teams to quickly identify and remediate vulnerabilities before malicious actors can exploit them.

Anetac started with a group of seven founders with a deep understanding of the cyber security challenges a hybrid enterprise faces and how a dynamic problem requires a dynamic solution. Anetac is already establishing a diverse customer base by servicing markets including leading airlines, banks, colleges, mining and other critical businesses and infrastructure while demonstrating the global problem of rising data breaches.

“This is a problem for every organization, in every industry. In today’s rapidly evolving threat landscape, we must acknowledge that the soft underbelly of any organization lies in its ability to monitor and secure dynamic and ever-changing environments with real-time security measures. It’s imperative to recognize that virtually every breach over the past decade has been exploited via service accounts,” said Tim Eades, CEO and co-founder of Anetac. “It’s staggering to discover the extent of poor security hygiene amongst service accounts. With our new platform, available today, we will proactively solve the disconnect of static scanning tools with an innovative, streaming approach that dynamically addresses identity problems and improves organizations’ security posture.”

With this latest round of funding led by Liberty Global and additional funding provided by Shield Capital and GP Ventures, along with Anetac CEO Tim Eades and cybersecurity expert Jason Witty, Anetac will continue to focus on crafting a seamless business experience to elevate its service offerings to cater to security leaders’ needs in the modern threat landscape.

Bringing an Intuitive Solution to a Global Security Problem

The Anetac Dynamic Identity and Security Platform was built from the ground up in close collaboration with and insight from a community of CISOs, design partners and security executives. It equips organizations with the intuitive security solutions needed while remaining agile and deployable within minutes. With the platform now accessible to businesses of all sizes, Anetac is ushering in a new era of protection, empowerment and peace of mind in the ever-evolving digital landscape by providing the following capabilities:

• Real-time streaming visibility of non-human and shared-use service accounts reducing blind spots and improving security hygiene – in a recent retail organization’s deployment, we discovered that 20% of provisioned accounts had never been used, 55% of all accounts were disabled, 30% had passwords over a year old and hundreds of passwords that were over 5 years old
• Mapping of access chains illuminating complex chains between service accounts, critical resources, business applications and processes
• Automated behavioral analysis combined with time-series data detecting unusual activity and expediting discovery and incident response time
• Dynamically reducing attack surface by continuously mapping and reinforcing the organizations’ security posture

Investor & Customer Thoughts on Anetac Funding Round

“Implementing a streaming identity solution that gives us constant visibility into our service accounts has been a game-changer for our organization. It has saved us many months of effort required for account mapping, helped us scale security efforts and maintain a comprehensive view of our service account landscape,” said Jeromy Lease, cybersecurity and architecture manager at a Denver-based Mining Company. “As a strategic partner, Anetac helps our team prioritize and focus on keeping our operations secure.”

“The Anetac Dynamic Identity and Security Platform streaming solution is disrupting the market by delivering continuous visibility of non-human service accounts and access chains for both cloud and on-premises environments. This innovative approach to securing service accounts sets a new standard and challenges traditional approaches like never before,” said Michael Brown, partner at Shield Capital. “Anetac launches amidst a global surge in cyber threat growth across all industries, addressing the critical need for a dynamic streaming solution offering constant visibility and control across all accounts – service, user and admin.”

“Cyber attacks stemming from unmonitored or poorly monitored service accounts are a remarkable global issue affecting organizations in all industries. With the Anetac Dynamic Identity and Security Platform, organizations are poised for constant surveillance on constantly changing service accounts privileges,” said Jason Witty, CISO investor. “This investment is about supporting a solution that aims to mitigate a significant risk facing enterprises worldwide.”

Venkat

The post Anetac Dynamic Identity and Security Platform raises $16M in Funding appeared first on Venkat Startups.

STELLA Automotive AI, Inc. (“STELLA”), a provider of automotive artificial intelligence technology, announced the closing of its oversubscribed Series A financing round, which raised $19.7 million to drive market growth and support ongoing product enhancement and development.

The raise comprises both newly invested capital and outstanding convertible notes that converted into this Series A issuance.

The Presidio Group acted as exclusive financial advisor to STELLA for the Series A financing, helping it procure capital from existing backers and several new investors from within the auto retail ecosystem, including strategic partner Reynolds and Reynolds and nine new strategic dealer investors: Qvale Auto Group, OREMOR Automotive Group, Mills Automotive Group, Bowers Automotive Group, MileOne Autogroup, Flow Automotive, MBB Auto Group, Ford Family Investments and West Herr Auto Group.

Using STELLA’s technology, dealerships can solve the longtime major pain points of engaging with customers in a timely and helpful fashion. STELLA’s AI assistant can simultaneously handle unlimited inbound calls as it engages in natural language conversations 24/7 to deliver a world-class customer experience. The STELLA assistant is trained on a wide range of automotive retail topics and can answer frequently asked questions and schedule service and sales appointments.

“Having dealers on board as early investors and users of STELLA’s technology creates a symbiotic relationship that benefits both parties,” said Presidio Managing Director Keith Style.

“Strategic investors who have deployed these solutions provide real-time feedback, enabling STELLA to quickly enhance its current product offerings and develop a robust roadmap of future products that dealers want to deploy in their stores.”

STELLA’s products integrate with existing dealership software offered by companies like Reynolds and Reynolds, a longtime leading provider of the full Retail Management System for auto retailers.

“As we look to the future of automotive retail and the positive impact artificial intelligence can have, two things are clear. First, the broader an ecosystem we can build for AI to interact with, the more powerful it will be. And second, the data layer AI technology uses to make decisions will determine how much benefit it will have for retailers and our industry as a whole,” said Chris Walsh, president of Reynolds.

“Our investment in STELLA is a great launching pad to take AI in automotive retail to the next level.”

Having Reynolds as an early investor provides another avenue for STELLA to test and refine its AI solutions.

“The investment by Reynolds and Reynolds underscores the tremendous value inherent in STELLA’s technology and its ability to improve dealership efficiency and profitability and enhance the customer experience,” said Presidio CEO Brodie Cobb. “The industry’s strategic venture investors see huge potential in artificial intelligence to transform the aspects of vehicle sales and service that haven’t always worked seamlessly. STELLA’s innovative products and this successful financing round further cement the promise AI holds for the industry.”

Venkat

The post STELLA Automotive AI, raised series A funding round of $19.7 million appeared first on Venkat Startups.