Synthflow Raises $7.4M in Seed Funding for Its AI Voice Assistants for SMEs
Press Release:
AI voice assistant startup Synthflow AI today announced $7.4 million in seed funding, led by Singular, with participation from existing investor Atlantic Labs and respected investors in the AI space, including the founders of Krisp AI.
Founded in 2023 by serial entrepreneurs Hakob and Albert Astabatsyans and Sassun Mirzakhan-Saky, Synthflow AI was born to democratise access to cutting-edge AI voice technology enabling seamless and efficient customer interactions to small businesses.
“We decided to build a no-code layer, similar to what Bubble.io had done for web apps, so that every business owner can build voice assistants without needing to hire a tech team to do it for them”, said Synthflow Co-Founder and CEO Hakob Astabatsyan.
Synthflow AI offers small and medium-sized companies a no code, end-to-end solution, to easily create AI voice assistants for your AI phone call system, customise them, and set up workflow automations, in just a few clicks. By using the platform, users can quickly deploy voice assistants that schedule appointments, collect and share real-time information, or provide customer support. Since its emergence from stealth in December 2023, Synthflow has grown double-digit month-on-month and nearing the mark of 1,000 customers.
“We invest a lot to develop in-house, best-in-class voice technology to offer our customers a human-like conversational experience. We also focus on developing the no-code aspect of the platform to make it as easy as possible for customers to deploy these assistants in real-life situations. But having a good conversational experience is not enough for business owners. The agents have to be able to perform tasks such as appointment scheduling end-to-end. It is all about ROI for business owners — if they do not see it, they will not use it”, added Astabatsyan.
The new funding will be used to enhance the platform's capabilities and accelerate product innovation through R&D. The company also aims to grow its tech team to develop assistants that can serve more complicated use cases and handle more complex tasks, such as performing real-time actions during calls; as well as to serve customers in non-English speaking countries such as Germany and France.
"Hakob, Albert, and Sassun are an impressive and complementary trio. In just five months, Synthflow has grown remarkably, demonstrating the team's speed of execution and their ability to iterate on their technology and product swiftly. Synthflow is redefining how small businesses interact with conversational AI, bringing unprecedented time and cost savings to their operations”, said Eva Mayoud, Investor at Singular.
The new funding follows a $1.7 million pre-seed round led by Atlantic Labs in August 2023, bringing the total funding to date to $9.1m.
“Synthflow had an exceptional go-to-market, leading to significant initial growth. By focusing on specific industries with well-defined use cases rather than attempting to be overly broad at the start, Synthflow was able to deliver an end-to-end solution that provided a superior user experience”, said Alice Bardon Catineau, Investor, Atlantic Labs.