MeetRecord Bags $2.7 Mn Funding To Enhance AI-Powered Sales Coaching Platform

Revenue automation company MeetRecord has bagged $2.7 Mn (about INR 22.6 Cr) in a Pre-Series A round of funding led by venture capital firm SWC Global, with existing investor All In Capital also participating.

The Bengaluru-based startup said it would deploy the funds raised to improve its AI-powered revenue automation product, which allows businesses to focus on sales and customer engagement with enhanced visibility into their sales operations. 

Founded in 2022 by Snehal Nimje, Sachin Sinha and Paras Jain, MeetRecord offers a product that bundles an AI transcription tool which analyses meeting and CRM data and surface patterns and insights to sales teams. The company enables teams to automate coaching to maximise revenue collection and make the most of existing leads and conversations with customers. 

MeetRecord had previously raised $310,000 (around INR 2.6 Cr) in 2021 from All In Capital and Powerhouse Ventures.

The company has brought on board over 20 customers since launch and is working with the objective of hitting $20 Mn in yearly revenue by 2025. MeetRecord claims its annual revenue has grown 3 times this year, though the company did not reveal actual revenue figures for FY24. 

Its customers include elearning software maker iSpring Solutions, physical fitness chain Gym Launch, equipment finance company Maclean Financial and others.

“With this funding, we are focusing on the depth of the features we provide, and double down on the low-cost customer acquisition strategy using content marketing and communities. We will be constantly moving up-market and if required, raise funds to fuel our growth,” Snehal Nimje, MeetRecord cofounder and CEO, told Inc42.

Nimje also said the company has plans to double down on RevenueLLM to improve performance and speed, while it also looks to reinvent each layer of the sales tech stack step-by-step using AI and conversational data.

“We expect strong growth in the conversation intelligence market as companies aim to enhance their sales efficiency. MeetRecord, with its innovative focus on revenue automation, has developed a top-tier product that delivers significant value,” said Tuck Lye Koh, founding partner at Singapore-based SWC Global.

Another AI-powered sales SaaS startup Clientell raised $2.5 Mn in a seed round earlier this year, funding led by Blume Ventures, Chiratae Ventures, Artha Venture Fund and Silicon Valley-based Z5 Capital. Clientele enables businesses to improve revenue generation efficiency by introducing AI copilots to boost their go-to-market (GTM) execution and optimise pipeline governance and forecasting.