Recently, the startup 11x.ai announced the successful completion of a $50 million Series B funding round, led by the renowned venture capital firm Andreessen Horowitz.
According to multiple sources, this funding has brought 11x.ai's valuation to approximately $350 million. This marks another successful fundraising effort following their earlier $24 million Series A round.
It is worth noting that 11x.ai's valuation at the time of their Series A funding was $90 million, although this news was only disclosed earlier this year, the funding was actually completed in 2024. The company's founder and CEO, Hasan Sukkar, stated that 11x.ai's current annual recurring revenue is close to $10 million, meaning that investors are valuing the company at 35 times its annual revenue. This valuation is more rational compared to the high valuations of some similar AI companies, such as Hebbia, a large document search startup, which was valued at 54 times its annual revenue in its recent Series B funding.
11x.ai is leading in the AI Sales Development Representative (AI SDR) field, although investors remain cautious about whether the company can maintain this advantage. There are many startups in the market also developing similar AI sales representative technologies, such as Reggie.ai, AiSDR, and Artisan, and even industry giants like Salesforce have launched their own sales agent products.
11x.ai currently offers two AI robots named Alice and Jordan. Alice is an AI sales representative responsible for lead generation, research, and customer contact. The recently launched Jordan is an AI telesales representative that supports over 30 languages and can conduct incoming and outgoing calls with potential customers. Additionally, 11x.ai has stated that they are developing AI robots for talent recruitment and human resources. With the funding in place, 11x.ai may expand its digital staff product line beyond sales representatives to more areas.
Key Points:
1. 💰11x.ai has successfully secured $50 million in Series B funding, with a valuation of $350 million.
2. 🤖 The company's AI sales representatives now include Alice and Jordan, the latter capable of communicating in over 30 languages.
3. 🚀11x.ai plans to further expand its AI product line, covering areas such as talent recruitment and human resources.