Adaptive analytics platform ConverSight.ai announced Thursday it has closed on a $4 million seed round led by Elevate Ventures with participation from Surface Ventures, Rev1 Ventures, existing investors Bread and Butter Ventures and Charmides Capital, and angel investor Craig Fuller, founder and CEO of FreightWaves and CEO of FLYING Magazine.
Powered by the patented artificial intelligence assistant called Athena, ConverSight.ai provides its customers with a SaaS-based analytics platform to retrieve information in seconds to help leaders plan, strategize and execute business decisions.
“ConverSight is providing upstream intelligence in a company’s supply chain, a very opaque part of a company’s operations. By using a combination of artificial intelligence and natural language processing, ConverSight is making the information far more actionable for companies. Having intelligence around upstream developments can enable them to take action very early in the process, avoiding costly and risky disruptions,” Fuller said.
ConverSight.ai last May was named a Cool Vendor in Analytics and Data Science by research firm Gartner for Athena’s machine learning ability, its customizable and instinctual platform and reported ease of use.
“Surface Ventures has been looking at conversation-native business intelligence for the last few years. We believe that conversational [BI] has the ability to democratize BI past traditional data analysts and users of dashboards. Furthermore, we believe that while incumbents have layered conversational analytics on top of their BI tools, conversation-native graph models will outperform,” said Gyan Kapur, co-managing partner at Surface Ventures.
With its new capital, the company plans to grow its marketing and sales team and continue to enhance its suite of products, like the recently launched AI Workbench that enables users to customize how they visualize their conversational analytics data.
“Consumer behavior has changed for good and supply chains simply cannot afford to operate via traditional systems and Excel sheets. That is why this round will play a huge role in allowing us to expand our marketing and sales efforts, in addition to product development, to create more efficiencies across the supply chain ecosystem. We are proud to have the support of all of our investors who share our vision in creating better relationships between data and business leaders,” said ConverSight.ai co-founder and CEO Ganesh Gandhieswaran.