DevRev, a company that specializes in developing customer relationship software, has raised $100.8 million in a Series A funding round.

The mentioned funds the firm received from Khosla Ventures and others. The results of this funding round are, in a sense, a tangible example of the growing demand for brands that use artificial intelligence.

Following the latest funding round, the market capitalization of California-based DevRev reached $1.15 billion. The mentioned mark allowed the startup to join the so-called unicorn club, startups which market value is more than $1 billion.

It is worth noting that the sharp rise in the popularity of artificial intelligence, which began with the debut of OpenAI ChatGPT in 2022, has intensified venture funding. Currently, investors are making significant bets on startups that operate in the фкуф of machine intelligence. These investors intend to become beneficiaries in the context of the material aspect of the process of widespread implementation of artificial intelligence.

According to media reports, in the period from April to June of this year, the volume of global financial injections into startups operating in the machine intelligence industry amounted to $24 billion. This indicator is more than twice the figure recorded for the same period in 2023.

DevRev was founded in October 2020 by former Nutanix chief executive officer Dheeraj Pandey. The company is a provider of software for interaction with customers based on artificial intelligence. This software helps connect end-users, sellers, support, product people, and developers on a common platform.

As we have reported earlier, Ant Group Invests in AI Startup Mita.