ClearFeed, an enterprise conversational support platform, announced it secured $2.7 million in seed funding. Peak XV Partners’ (formerly Sequoia Capital India & SEA) accelerator program Surge led the funding round, with additional participation from 8VC, as stated by the company.
The firm will use the funds for both product development and expanding its go-to-market teams.
The statement mentioned that chat platforms like Slack and Microsoft Teams lack the necessary structure, tracking systems, and metrics required by larger enterprise teams dealing with a high volume of common queries and tasks. These teams often find themselves in a situation where they need to copy and paste information between tools and struggle to effectively communicate and follow up with stakeholders within the chat platform.
To address these challenges, ClearFeed has devised a solution. The company streamlines customer and employee requests within chat platforms using artificial intelligence (AI) models to monitor inquiries and expedite requests.
ClearFeed’s product offers several key features, including triage channels, one-click ticket submission, and real-time two-way data synchronization. Moreover, it seamlessly integrates with eight software tools, including Zendesk, Jira, FreshDesk, HubSpot, Github, Linear, Intercom, and Salesforce.
Additionally, ClearFeed has implemented OpenAI’s GPT-4 to index product documentation and knowledge bases. This enables the automatic generation of responses to user queries and aids agents in resolving user issues by identifying the most relevant resources.
ClearFeed has reported significant growth since early 2023, with a ten-fold increase in revenue and a doubling of its workforce in its Indian offices. Among its 100 clients are notable names such as Atlan, Last9, Sprinto, and Plum Insurance, serving more than 10,000 users.
“ClearFeed is a platform that can elevate the customer service experience and streamline work discussions efficiently. We’re thrilled to embark on the next phase of our growth, fuelled by the fresh funds, as we look to introduce more product features,” co-founder Joydeep Sen Sarma said.
ClearFeed was established in September 2021 in Bengaluru by three co-founders: Sarma, Ankit Jain, and Lalit Indoria. Sarma, an early Facebook engineer, is renowned for founding Apache Hive and previously served as the co-founder and Chief Technology Officer (CTO) of Qubole.
Ankit Jain, on the other hand, led the product division at SkitAI, a conversational AI startup, and had previously been a founder at SprintAI, which received funding from Y Combinator. At SprintAI, he focused on developing products in the field of supply chain AI.
Lalit Indoria brought his expertise to ClearFeed after working at Udaan and previously being associated with Qubole.
“This funding round positions ClearFeed to disrupt the SaaS and B2B support landscape, giving companies the competitive edge they need in today’s dynamic market,” Bhaskar Ghosh, partner and CTO, 8VC, said.
