Avaamo Inc.
| File:Avaamo Chatbot.png | |
| Private | |
| ISIN | 🆔 |
| Industry | Software and Services |
| Founded 📆 | 2014 |
| Founders 👔 |
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| Headquarters 🏙️ | Los Altos, California |
Area served 🗺️ | |
Key people |
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| Members | |
Number of employees | |
| 🌐 Website | avaamo |
| 📇 Address | |
| 📞 telephone | |
Avaamo is a deep-learning software company, based in Los Altos, California[1]. It operates in the enterprise sector to automate the Conversational AI lifecycle using neural networks, speech synthesis and deep learning. Avaamo is known for its enterprise security and data protection.[2][3]
Avaamo was founded by Ram Menon and Sriram Chakravarthy in 2014, and the company has raised more than $30 million in funding[4][5]. Its key investors include Intel Capital, Ericsson Ventures, Wipro Ventures, Mahindra Partners, and WI Harper Group. Its key customers include Intel, UCHealth[6], Life Insurance Corporation, Guam Telecom, and Penske Corporation.[7]
In 2014, it raised $6.3 million from WI Harper Group, Streamlined Ventures, etc[8]. In 2016, it raised $3 million from Founder Friendly Labs, Alchemist Accelerator, WI Harper Group, etc. In 2018, it raised $14.2 million from Wipro Ventures[9], Intel Capital, Mahindra Partners[10], Ericsson Ventures, etc[11][12]. In 2021, it raised $7 million from Liquidity Capital.[13][14]
COVID-19
During the COVID-19 pandemic, Avaamo has launched Project Covid[15], a real-time AI chatbot that answers questions about the novel coronavirus and COVID-19. It uses Avaamo’s conversational AI engine to have conversations with millions of pages of information from the United States Centers for Disease Control and Prevention (CDC), National Institutes of Health (NIH), and World Health Organization (WHO) in order to answer questions.
Awards And Recognitions
- Forrester recognized Avaamo as Leader in Forrester New Wave™ Standalone Chatbots for IT Operations for two consecutive years in 2019[2] and 2020.[3]
- Forrester named Avaamo as Strong Performer in the Forrester New Wave™ Conversational AI for Customer Service in 2019.[16]
- Everest Group recognized Avaamo as Leader in its inaugural Intelligent Virtual Agents – Technology Vendor Landscape with Products PEAK Matrix® Assessment 2020.[17]
- Avaamo Named Customer Service Chatbot Provider – Company of the Year at Frost & Sullivan’s 2020 India ICT Awards.
- IDC recognizes Avaamo as Innovators for AI-Enabled Commerce and Customer Experience in Retail.[18]
- Inc. Magazine placed Avaamo in the list of California’s fastest-growing private companies in 2021.[19]
- Inc. Magazine rated Avaamo amongst the Top 7 Innovative AI Startups to watch.[20]
- Aragon Research named Avaamo as Hot Vendor.[21]
References
- ↑ Menon, Ram. "Council Post: The Rise Of Conversational AI". Forbes. Retrieved 2021-08-26.
- ↑ 2.0 2.1 Avaamo. "Avaamo Named a Leader In Chatbots for IT Operations Report by Independent Research Firm". www.prnewswire.com. Retrieved 2021-08-26.
- ↑ 3.0 3.1 Pandey, Prachi (2020-10-05). "Avaamo Recognized as a Leader by Everest Group in the 2020 Peak Matrix Assessment of IVA Technology Vendors". EIN Presswire. Retrieved 2021-08-26.
- ↑ "Avaamo Company Profile: Valuation & Investors | PitchBook". pitchbook.com. Retrieved 2021-08-26.
- ↑ "Avaamo - Crunchbase Company Profile & Funding". Crunchbase. Retrieved 2021-08-26.
- ↑ UCHealth (2019-08-07). "UCHealth's virtual assistant "Livi" powered by conversational artificial intelligence (AI) now available on smart speaker devices". GlobeNewswire News Room. Retrieved 2021-08-26.
- ↑ Leasing, Penske Truck. "Penske Truck Rental Implements Avaamo's AI Virtual Assistant to Enhance Reservation Process". www.prnewswire.com. Retrieved 2021-08-26.
- ↑ Ambre, Ashna (2014-10-09). "Avaamo raises $6.3 million, launches app by same name". mint. Retrieved 2021-08-26.
- ↑ "Wipro picks up minority stake in US-based startup Avaamo". VCCircle. 2018-03-15. Retrieved 2021-08-26.
- ↑ India, Press Trust of (2018-09-07). "Tech Mahindra partners with Avaamo to develop conversational AI platform". Business Standard India. Retrieved 2021-08-26.
- ↑ "AI Startup Avaamo Raises $14.2 Mn Series A Funding, Led By Intel Capital". Inc42 Media. 2018-05-08. Retrieved 2021-08-26.
- ↑ May 9, Shilpa Phadnis / TNN /; Ist, 12:36. "Avaamo raises $14m from Intel, others - Times of India". The Times of India. Retrieved 2021-08-26. Missing
|Authors list2=(help) - ↑ "Liquidity Capital Provides Avaamo With a $7M Facility Within 24 Hours Using "DYNAMiCs" Platform". www.businesswire.com. 2021-08-02. Retrieved 2021-08-26.
- ↑ "Liquidity Capital Provides $7MM Credt Facility to Avaamo - News | ABL Advisor". www.abladvisor.com. Retrieved 2021-08-26.
- ↑ Leasing, Penske Truck. "Penske Truck Rental Implements Avaamo's AI Virtual Assistant to Enhance Reservation Process". www.prnewswire.com. Retrieved 2021-08-26.
- ↑ "Key Takeaways from the Forrester New Wave for Conversational AI for Customer Service, Q2 2019". solutionsreview.com. Retrieved 2021-08-26.
- ↑ Pandey, Prachi (2020-10-05). "Avaamo Recognized as a Leader by Everest Group in the 2020 Peak Matrix Assessment of IVA Technology Vendors". EIN Presswire. Retrieved 2021-08-26.
- ↑ "IDC Names Four Innovators for AI-Enabled Commerce and Customer Experience in Retail". IDC: The premier global market intelligence company. Retrieved 2021-08-26.
- ↑ "The Top 250 Fastest-Growing Private Companies in California". Inc.com. Retrieved 2021-08-26.
- ↑ Calhoun, Lisa (2017-01-09). "7 Innovative Artificial Intelligence Startups to Watch in 2017". Inc.com. Retrieved 2021-08-26.
- ↑ "The Aragon Research Technology Arc™ for Artificial Intelligence, 2017". Retrieved 2021-08-26.
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