Nov 4, 2024

yasmeeta November 4, 2024 DevRev has secured $100.8 million in Series A funding, achieving a $1.15 billion valuation. This funding round, led by Khosla Ventures with contributions from Mayfield Fund, Param Hansa Values, U First Capital, and other notable investors, signals confidence in DevRev’s efforts to transform customer support and product development with AI-native enterprise software. The company’s flagship offering, AgentOS, is advancing generative AI adoption in enterprises. By facilitating one-click data migration from older systems and implementing lightweight AI agents, DevRev aims to streamline how organizations leverage AI for efficiency and effectiveness. Founded in October 2020 by Dheeraj Pandey, former Nutanix CEO, and Manoj Agarwal, previously SVP of Engineering at Nutanix, DevRev focuses on bridging the gap between developers, customers, and revenue. Pandey underscores this mission: “Today, every company is a software company, yet we isolate developers from customers and revenue…Our mission is to break down these barriers and empower developers to create customer-conscious products and businesses.” DevRev’s AgentOS leverages a knowledge graph architecture, analyzing data from diverse sources like customer conversations and session analytics. The AI-driven agents connect code directly to production issues and customer interactions, automating workflows to enhance operational efficiency and reduce manual tasks. The platform’s capabilities span customer service, product management, and software engineering, with a client base across various sectors, including AI, SaaS, and financial services. Dr. Ekta Dang, CEO of U First Capital, emphasizes the firm’s strategic investment: “We have invested heavily in the generative AI sector. We’ve noticed that to fully harness the potential of AI, the underlying data and knowledge infrastructure must be reimagined and rebuilt. DevRev is at the forefront of enabling AI adoption in enterprises, thanks to its innovative product architecture.” DevRev’s approach to AI and knowledge graphs addresses organizational challenges, such as departmental silos and data fragmentation. Traditional workflows often suffer from disconnected systems, delaying product development and degrading customer experiences. DevRev counters this with AI-on-Knowledge Graphs, mapping organizational data and systems for comprehensive insights and effective AI integration. The platform integrates in real-time with CRMs, support systems, and engineering applications, creating a contextual knowledge graph that improves operational efficiency and customer service. The productivity potential of GenAI, according to DevRev, is unlocked through these contextual mappings. Their solution provides businesses the tools to identify emerging trends, optimize resource allocation, streamline operations, and personalize customer interactions. DevRev emphasizes that the combination of front-end applications and back-end knowledge graphs enables organizations to gain deep insights, improve focus, and enhance overall customer experiences. Featured image courtesy of DevRev.ai