Since CHATGPT was released in November 2022, the conversational AI market has exploded and is projected to grow at nearly Global industry by 2031 $50 billionaccording to Marketsandmarkets.
Synthflow AI It’s just one of many companies that stand out in this space because it focuses on enterprise grade and easy to set up.
Based in Berlin, Synthflow is a codeless platform that allows companies to build and deploy customized, white-label voice AI customer service agents. Launched in 2023, the company has attracted over 1,000 customers and processed over 45 million calls.
Startup voice agents are HIPAA and GDPR compliant and can be plugged into over 200 integrations with other enterprise platforms such as Salesforce, Twilio, and Hubspot.
Co-founder and CEO Hakob Astabatsyan told TechCrunch that he and his co-founder Albert Astabatsyan (now CPO) and now CTO Sassun Mirzakhan-Saky began messing around with Openai’s ChatGPT API in early 2023, finding potential ways to build No-Code Business applications on AI models.
They started with text-to-text AI bots and then tried to build voice bots. When they realized how difficult the voice was, they were thrilled at the possibility.
“My God, I realized that my voice is really complicated. By actually making AI speak in real time, and having this 400ms latency and handling the interruptions, it turned out to be such a complicated task.” “We fell in love with this issue. Watch, I’m going to work with just the voice bots from now on.”
The group formed Synthflow and spent the rest of the buildings for 2023. They launched the first version of Synthflow product in early 2024, then released the enterprise-grade version of technology at the end of the year. According to Astabatsyan, the company grew 15 times last year and has seen it retained more than 90% from its corporate customers.
“We process 5 million calls every month,” he said. “Last year, it didn’t know 1 million, 2 million people, and we started growing very quickly. This is where Synthflow started to really get better because we had this speed.”
The startup recently recruited the $20 million Series A round led by Accel to participate from existing investors Atlantic Labs and Singular. Astabatsyan said the company has raised this recent round so that it can expand its team, boost research and development, and open its first US office in an undecided location.
Accel partner Luca Bocchio told TechCrunch that the Accel team had been tracking Synthflow since they began developing their first product. What stood out for Bocchio was the founding team drive and an early push to build enterprise-friendly integrations.
“This team has [had] Bocchio has been a very strong view since his acquisition of the technology across CRMS that companies may use to actually provide corporate-grade compliance, creating more depth.
Regardless of the company’s traction, conversational AI appears to be positioned to be a tough category. Many other businesses have been built in the space, including Brett Taylor’s Sierra. Brand airaising more than $50 million in venture capital, to name the couple.
“AI moves very quickly, and sometimes things happen faster than expected,” Astabatsyan said. “But it’s very clear to us, we’re at this stage. [we’re] The post-product market fit era is when you know who your customers are. We have a pretty clear idea of what our product roadmap is and where we want to be in the next 3-5 years. ”
