Venture Catalysts Leads An Investment of $500K in Rezolve.ai, An AI-led, Automated Employee Service Desk
Mumbai, 9th November 2020: Venture Catalysts, India’s first and largest integrated incubator, and accelerator, has recently led an investment of USD 500,000 in Rezolve.ai, an AI-led, automated employee service desk. The funding round also saw participation from Venkat Raju – Serial Entrepreneur and Technology Evangelist, Shanmugam Nagappan -Seasoned IT Leader with CIO and Senior VP (IT) experience with multi-billion dollar companies, Dhrumil Shah and Harshit Shah – Seasoned Angel Investor from Ahmedabad and Dr Aloknath De -Veteran Technologist.
Founded by Saurabh Kumar, Manish Sharma, and Uday Bhaskar Reddy, Rezolve.ai aims to disrupt the IT support market by improving employee servicing experience and satisfaction through its automated query resolution software. The SaaS-based platform uses five types of AI skills to fully automate all the repetitive tasks in the employee service desk. The technology, therefore, improves the overall service management by saving more time and effort for complex issues.
Speaking on the investment, Saurabh Kumar, CEO – Rezolve.ai, said, “We are excited to work with Venture Catalyst. Most employee service desks are still using traditional models, tools, and KPIs. As a result, employees still waste a substantial amount of time getting simple issues resolved manually. Rezolve.ai is revolutionizing employee support by auto-resolving most employee issues within seconds and providing an industry-leading ROI and resolution rates. Over the last couple of years, our product has succeeded in developing commonly needed knowledge, task, and process automation skills – all available to employees at their channel of choice – MS Teams.”
Manish Sharma, COO – Rezolve.ai, added, “The excitement in the market for our product and vision is not only palpable but also infectious. Many enterprises are looking to improve IT support and employee engagement and are finding that they can leapfrog to the next level of automation with our innovative product. We have a deep relationship with Microsoft and our positioning as ‘MS Teams based AI Service desk’ is resonating with customers.”
Udaya Bhaskar Reddy, CTO and Head of Engineering – Rezolve.ai, said, “Rezolve.ai is an innovative and robust product. We will continue to lead the space of employee support, with each new product release representing a handful of gems.”
Dr. Apoorva Ranjan Sharma, Co-founder & President – Venture Catalysts, commented, “IT support cost is undoubtedly a major liability for companies. The team at Resolve.ai is using AI to automate L1 support that will essentially help organizations in cost-cutting by reducing human involvement. The market that the venture is addressing is worth USD 10 billion. The company is well-equipped to capitalize on this market because automation in the IT support domain is largely unexplored to date. This, along with the founding team’s dedication, makes us very confident of the investment.”
Besides carrying a first-mover advantage in the market, the company provides an average of 45% auto resolution rate. The central focus of this innovative platform is to create outstanding ROI and satisfied employees.
Venture Catalysts is India’s first integrated incubator. It invests $250K – $1.5 Million in early-stage startups that have the potential to create enduring value over a long period of time. Venture Catalysts brings a lethal combination of Capital, Mentoring, and Business Network to help investee companies to succeed. Their innovation provides value to startups through its extensive angel network, funding, community, services, and co-working facility.
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