Bengaluru-based AI startup Actionable Science has raised $1 Mn in a seed funding round from Globevestor and Tri-Valley Ventures- a California based fund. The startup plans to utilise the raised funds to accelerate product development, reach more customers,and improve client delivery.
The funding round also witnessed participation of several corporate executives from US and Asia, including Shyam Maheshwari, Jai Mirpuri, Sukeert Shankar, Puneet Kaushik, Abhijeet Harolikar, and Bhahmanand Hegde.
Actionable Science was founded in 2016 by three alumni of IIM Bengaluru —Saurabh Kumar, Manish Sharma and Udaya Reddy. The startup specialises in providing solution based on technologies such as artificial intelligence, robotic automation processing, virtual people, service bots, machine learning, IT customer service, enterprise solutions for enterprises.
It helps in automating their standard repeatable tasks, enable more impactful use of data, and create tools that support employee and user productivity, decision making, among others.
Actionable Science Offering New Edge Technology To HRs
The startup offers HRs a virtual employee assistance Vera, which is a fully digital agent providing personalised, ﬁrst-level HR support to an enterprise’s employees. Vera handles common, repetitive HR tasks such as employee onboarding, answering policy questions and various other HR Helpdesk related activities.
Another major virtual employee developed by Actionable Insights is Megan. It is a virtual sales consultant which helps customers and members learn about shop and buy, mortgage loans, auto loans, checking accounts, credit cards and other financial products.
Vera, along with all of the company’s Virtual Employees, handles processes end-to-end.
- Talking to users through natural language processing,
- Thinking about solutions via machine learning,
- Acting on follow-up steps by connecting to robotic process automation
Actionable Science Expansion Plans
Actionable Science operates with its sales team in Bengaluru and US. It also has its engineering and development centre in Dehradun, India.
“Dehradun has great connectivity, best schools, nice weather, and high employee stability. We should see more influx of startups there. It is great for ecosystem,” Ankur Shrivasatava, Globevestor, said.
Globevestor co-founder and partner PN Raju says that Actionable Sciences is already delivering about 35-45% net savings on relevant spends for their clients.
“With annual enterprise spend on just IT & HR support in North America estimated at about $7-8 billion, the company is targeting a huge market,” he said.
The startup claims to be working on several pilots with leading clientele in the US, Mexico, and Europe in banking, healthcare, and several other industries. It currently offers AI-powered digital agents for IT, HR, customer support, and also for customer helpdesks.
According to an April 2018 ET report, HR tech industry in India is now worth $1 Bn. Other notable Indian HR Tech startups, similar to Actionable Science, are LeenaAI, Bash, Skillate, EdGE Networks, PeopleStrong, and Darwinbox among others. Some of the international startups in this domain include Mya Systems, Textio, Ideal, and Entelo among others.