DevRev Secures USD 100.8 Mn Series A Funding, Joins AI Unicorn Club The latest funding round has brought DevRev's valuation to USD 1.15 billion, marking its entry into the unicorn club.
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DevRev, a California-based AI-driven customer relationship management (CRM) software firm, has raised USD 100.8 million in a Series A funding round led by Khosla Ventures.
This investment has elevated the company's valuation to USD 1.15 billion, officially marking its entry into the AI unicorn club.
Vinod Khosla, Founder of Khosla Ventures, said, "AI will transform enterprise customer support and product teams, changing the way companies do business globally. Having backed Dheeraj at Nutanix and now at DevRev, he is one of the few people in the industry who can leverage foundation models and weave them together with enterprise architectures, customer collaboration, and monetization."
Founded in October 2020 by Dheeraj Pandey, former co-founder and CEO of Nutanix, and Manoj Agarwal, former SVP of Engineering at Nutanix, DevRev aims to revolutionise customer relationship management. The platform connects end users, sellers, support teams, product managers, and developers on a unified interface, offering a unique approach compared to traditional horizontal CRMs.
DevRev's platform claims to utilise a blank canvas approach to collaboration, AI, and analytics, designed to enhance product velocity and minimise customer churn for SaaS companies.
DevRev has offices in seven global locations, including India.
"Design will play a key role in building trust with end users, who have inevitably begun to witness the AI hype cycle of broken prototypes and bespoke one-off GPT wrappers that are inherently unmaintainable and not secure," said Dheeraj Pandey, CEO of DevRev.
