Total amount raised
$52 Millions
Latest funding date
11/1/2021
Location
Netomi has successfully raised funding through multiple rounds, with its latest being a Series B round closed on November 17, 2021. The company is backed by notable investors, including Eldridge Industries and Fin Capital, among others.
Keep reading to explore the intricacies of Netomi's fundraising journey and the investors backing this innovative platform.
What Is Netomi?
Netomi, founded in May 2015 by Puneet Mehta, is headquartered in San Mateo, California. The company specializes in providing multimodal and omnichannel Sanctioned Generative AI for enterprises, focusing on enhancing customer experience through AI-driven solutions.
With a team of 101-250 employees, Netomi offers a full-stack AI platform that automates and improves customer service interactions. Their solutions include proactive and automated customer care, seamless integration with existing systems, and tools for empowering both customers and agents.
Netomi's innovative platform, Agentic OS, is designed to ensure brand-safe conversations at scale, incorporating built-in AI governance controls for accuracy, security, and data privacy.
How Much Funding Has Netomi Raised?
- Seed Round (March 22, 2016)
- Amount Raised: $2.6M
- Date: March 2016
- Lead Investors: Bowery Capital, Y Combinator
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To build the initial product and establish a market presence.
- Seed Round (March 1, 2017)
- Amount Raised: $4.7M
- Date: March 2017
- Lead Investors: Index Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand the team and accelerate product development.
- Series A (March 1, 2019)
- Amount Raised: $14.7M
- Date: March 2019
- Lead Investors: Index Ventures
- Valuation at Round: $67.5M
- Motivation Behind the Round: To scale operations and enhance AI capabilities.
- Series B (November 17, 2021)
- Amount Raised: $30M
- Date: November 2021
- Lead Investors: Eldridge Industries, Fin Capital
- Valuation at Round: $210M
- Motivation Behind the Round: To open new offices and expand marketing and R&D efforts.
Total Amount Raised: $52M. Current Valuation: $210M.
Key Investors
- Index Ventures
- Details: Index Ventures is a global venture capital firm that invests in technology-enabled companies. Founded in 1996, it has offices in San Francisco, London, and Geneva.
- Investment Focus Areas: Technology, Life Sciences, Consumer Products
- Notable Investments: Dropbox, Slack, Robinhood
- Bowery Capital
- Details: Bowery Capital is an early-stage venture capital firm focused on helping startups build the next generation of business software. The firm was founded in 2013 and is based in New York City.
- Investment Focus Areas: SaaS, Enterprise Software, Marketplaces
- Notable Investments: Bluecore, Catalant, Fero Labs
- Y Combinator
- Details: Y Combinator is a startup accelerator that has funded over 2,000 startups since its inception in 2005. It is known for its intensive three-month programs that help startups refine their business models and pitch to investors.
- Investment Focus Areas: Technology, Healthcare, Consumer Products
- Notable Investments: Airbnb, Dropbox, Stripe
- Eldridge Industries
- Details: Eldridge Industries is a private investment firm that invests across various sectors, including insurance, asset management, technology, and media. The firm is headquartered in Greenwich, Connecticut.
- Investment Focus Areas: Insurance, Asset Management, Technology
- Notable Investments: Not publicly disclosed
- Fin Capital
- Details: Fin Capital is a venture capital firm that focuses on early-stage investments in financial technology companies. The firm aims to support innovative startups that are transforming the financial services industry.
- Investment Focus Areas: Fintech, Insurtech, Regtech
- Notable Investments: Not publicly disclosed
What's Next for Netomi?
Netomi's future looks promising as it plans to expand into new markets by opening offices in London, Singapore, Toronto, and Montreal. This expansion, coupled with increased marketing outreach and enhanced research and development, positions the company to capitalize on the growing importance of customer experience in business strategies.
With a valuation of $210 million, up from $67.5 million in 2019, Netomi's growth potential is significant. Future fundraising opportunities seem likely to support further expansion and technological advancements. However, the company may face challenges such as the complexity of human language and high customer expectations for more human-like AI interactions.
Use Clay to Get Funding Data
Sales professionals, take your strategy to the next level by leveraging Clay's platform to access comprehensive fundraising data on companies like Netomi and gather other critical business insights.
Sign up for free on Clay and start making data-driven decisions today.
