“The year 2021 has been good for us and we recorded a handsome growth figure of 300% over the previous year. With the vaccines playing their part in bringing corporates back to near-full function, we are confident of growing at an even higher rate next year – by up to 400%,” said Saurabh Kumar, cofounder of Rezolve.ai.
Rezolve.ai is a NextGen employee service platform that brings AI-powered service desk experience to your employees within Microsoft Teams. It tackles the problem of ineffective employee support inside the organization. “The shift from a sales-led model to a marketing-led model brought in growth. Our website traffic during the year jumped 10x. We were able to increase the level of trust among clients for our offerings,” Kumar said.
The company, founded in 2017 by three Indian Institute of Management, Bangalore (IIMB) alumni – Saurabh, Manish, and Udaya – competes with players such as Freshdesk, Kahoot, Jira, SAP SucessFactors amongst others. Headquartered in San Ramon, California, Rezolve.ai has offices in Chennai and Dehradun in India and Toronto in Canada. However, it’s major market is the US.
In the US alone, service desk automation is a $3 billion market and is estimated to expand in the enterprise segment to become a $10 billion market by the year 2025. Of this market, Rezolve.ai is looking for a 150-million employee slice in the US alone.
“In the coming year, we will lay continued focus on the mid-market, where we have seen all the exciting action. We will also expand into Europe, where interest in our offerings is on the rise,” added Saurabh Kumar.
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According to IDC, employees typically waste 20-30% of their time seeking information and help. This is thanks to low self-service adoption (less than 10% end-user adoption), slow service and long wait times (average time to close employee requests is nearly two days!), and high cost – $15 per request (in the US market). It is estimated that 80% of the IT and HR Service Desk expenses is for labour.
“That’s where we come in. We solve this problem with our focus on faster and easier service, more so in today’s work-from-home scenario where tech complexities can at times stump some employees. They need assistance – and fast. We deliver that, and that too, at a fraction of the current cost,” summed up Saurabh.
The startup is also aggressively looking to double down its expansion plans in India and Europe, for which it plans to raise $10 million by early next year.
Till date, it has raised $2.5 million in two rounds of funding – Seed and Pre-A – from Tri-Valley Ventures, Venture Catalyst, Pentathlon VC, SLO Seed, Sand Hill Angels.
