Kamma who is also an investor and serves as chief operations officer. “Sri saw a pain point, how the conversion rate from interest to purchase was very low with traditional approaches,” Sujatha Kamma said. “FunnelAI provides prospects with a high intent apt for conversational marketing for a high conversion rate for customers.” Sridhar Kamma first built Apposphere in 2015. That cloud-based app for businesses bundled 10 different applications into one to address every part of the business lifecycle, from customer relations management (CRM) to billing. One of its applications was the AI-fueled generation of new customer prospects. RealCo accelerator co-founder Michael Girdley saw Kamma pitch Apposphere in Austin and encouraged him to pivot the startup to focus on the AI-generated customer leads. Kamma created Aingines™, the proprietary software algorithm that forms the foundation for the newly renamed and refocused FunnelAI. Girdley also helped convince Kamma to move from Austin to San Antonio in June 2017 to become the third company to join RealCo’s cohort. “Every company is trying to reach millennials and FunnelAI has figured out how to do that,” Girdley said. “The secret is the millennials are speaking—just no one was listening.” The startup is working with auto manufacturers to launch the proprietary software algorithm at various dealerships across the U.S. to roll out the new capability in 2019. FunnelAI is also developing strategic partnerships with auto solution companies and automotive marketing groups, as well as with real estate agents in San Antonio and Austin to use FunnelAI for lead generation. “This is a very new experience for businesses, and we stress the importance of adjusting to selling socially,” Kamma said. “Connecting car dealers directly to their customers is one area where they can use some support, especially since people are changing how they buy cars and auto services.” Businesses now rely on filters based on keyword searches from social media, Facebook leads, and Google Adwords. Companies leverage AI to analyze its marketing data for more targeted information to find potential new customers, using services from nearcompetitors like Node to find new leads based on data
the company already has. Social media companies like Facebook may be the startup’s biggest competition if each one rolls out something similar in the coming years, but San Antonio investor Pat Matthews thinks they are not comparable. “One important macro trend right now is that typical lead gen sources for everyday businesses are tapped out,” said Matthews, who has invested in FunnelAI. “Facebook and Google only work for the largest companies or companies with very specific offers who can bid the most money for keywords and impressions. There is only so much keyword inventory or ad impression inventory.” The startup has gotten noticed by investors for its long-term potential to penetrate multiple markets with its AI platform. The Fund Conference chose FunnelAI as one of the top 10 best startups in Austin in 2018. RealCo’s Accelerator fund has to date invested $125,000 in the company and its co-founders raised $375,000 seed funding in 2018 with the Geekdom Fund, Active Capital, Alamo Angels, Nebraska-based Router Ventures, and angel investors from Dallas and Houston participating in that round. FunnelAI was also selected to participate in MassChallenge’s first cohort in its first Texas-based accelerator. FunnelAI reached $1 million in revenue by November 2018 and is continuing to grow at a steady 20 percent month by month. As the company looks to raise their next round in 2019 they continue to hire senior engineers, customer service, and sales experts. The startup has already outgrown its space in RealCo and has moved its team to a larger office space nearby in downtown San Antonio.
L to R: Sridhar Kamma, Founder, CEO; Suja Kamma, CoFounder, Strategy; Ron Davis, Director of Sales; Vivian Canales, Full Stack Developer; Larry Gonzales, Full Stack Developer; Brandom Lwowski, Machine Learning Engineer; Suman Poluri, Engineering
“FunnelAI is the fastest growing SaaS company in San Antonio right now,” Matthews tweeted.
Featured image is of FunnelAI co-founders Sujatha Kamma (left) and Sridhar Kamma. Not pictured is cofounder Suman Poluri. Photo courtesy FunnelAI. startupssanantonio.com
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