Voiceflow raises $15M to build the ‘Figma’ of conversational AI
Summary
California-based Voiceflow, a startup looking to build the Figma of conversational AI, today announced it has raised $15 million in a fresh round of funding led by OpenView Venture Capital. Voiceflow delivers just that by building AI agents at twice the speed of traditional platforms.The company currently works with approximately 130,000 users from 450 enterprises, including dozens of Fortune 500. The company offers a Figma-like collaborative platform, giving teams an all-in-one, low-code environment to design, build, test and deploy conversational agents of any scale or complexity.Once up and running, as many as 100 different users can work on Voiceflow in real-time to design complex conversation flows with advanced logic, quickly create shareable, high-fidelity prototypes to test and refine the user experience and eventually launch the agent to production. The offering also allows for integration with any existing natural language understanding (NLU) platform or technology stack, enabling teams to use their existing conversational AI tech stack without costly vendor replacements.According to the company, it can help teams deliver AI agents for any channel or use case two times faster than other solutions in the market. Last year, the companys enterprise revenue almost tripled, and today, the margins are more than 80%, said Ream.With this funding round, the company will look to build on ongoing momentum and launch new product innovations to make the experience of designing and deploying AI agents even better.While Ream did not share much, he did note that part of this effort will be focused on adding a large language model (LLM)-powered AI Builder, which will enable teams to build and deploy agents for customer support and more.According to Future Market Insights, the global conversational AI industry is predicted to expand from $9.6 billion in 2023 to $47.6 billion in 2033 with a CAGR of more than 17%.