Lately, it looks as if each firm both desires to or is already providing an AI services or products. For startups constructing an AI product on this area, it’s a very good time, however they aren’t with out their challenges — the tech remains to be early, and although many corporations are thinking about attempting generative AI options, they have been gradual to undertake it.
There are quite a few causes why, however what seems to be foremost is the worry of AI hallucinations. “You can’t use [AI] in production for large enterprises if it lies,” stated Pavitar Singh, co-founder and CEO of UnifyApps.
Singh feels his startup has an excellent answer for that: UnifyApps primarily connects an organization’s SaaS apps and knowledge to one another, and lets corporations construct and deploy their very own AI chatbots on prime to interface with all the knowledge. This method, he says, serves to attenuate AI hallucinations, as a result of UnifyApps’ brokers can primarily vet one another’s output primarily based on the corporate’s knowledge.
UnifyApps is new to an already crowded area — bigwigs like Workato and Zapier already supply comparable “unification” providers, as do a slew of different startups. However Singh believes his startup’s AI-focused method offers it an edge as a result of it bakes within the capacity to construct AI chatbots. “Enterprises can build any number of agents: They can help HR, sales, marketing, legal, or finance,” he stated.
Corporations could also be hesitant to undertake generative AI, however UnifyApps has already attracted greater than 20 prospects, together with one of many largest banks on this planet and a giant telecom supplier, Singh stated.
Good traction is a good search for a younger startup, and traders appear to agree. The corporate simply raised a $20 million Collection A funding spherical from ICONIQ Development, lower than six months after UnifyApps closed a $11 million seed spherical.
Singh based UnifyApps final 12 months after spending over 11 years as a CTO of Sprinklr, a buyer expertise administration platform for international manufacturers, which went public in 2021.
Whereas solely a minority of ICONIQ Development’s investments are in Collection A startups, the agency was effectively acquainted with Singh. “Pavitar was the mad scientist genius that was building all the incredible products for Sprinklr,” stated Matt Jacobson, a normal associate at ICONIQ.
ICONIQ had invested in Sprinklr’s Collection D in 2014, and Jacobson spent a few years serving on the corporate’s board. He says he was so impressed with Singh and what he was doing at UnifyApps, that he couldn’t move up investing within the startup.
“Stakes have gotten much higher with AI applications,” Jacobson stated.
UnifyApps has 150 workers throughout places of work in Gurgaon, Dubai and New York.
As for why the corporate has such a giant workforce, Singh stated UnifyApps desires to make sure its product is flawless so that giant enterprises can “adopt it safely.”
