Passage AI Raises $7.3M to Turn Conversational AI Into A Global Business
Summary
Passage AI, which focuses on AI-powered conversational interfaces, has raised a $7.3 million Series A round led by Blumberg Capital. Based in Mountain View, Passage AI was founded in 2016 by a trio of Silicon Valley veterans with backgrounds in deep learning and artificial intelligence: WalmartLabs alumni Madhu Mathihalli and Ravi Raj, and LinkedIn alumnus Mitul Tiwari. Kohl’s, Udacity, PricewaterhouseCoopers (PwC), Ford Motor Co, BMW, Nissan, Calgary Public Library, and Accenture are among its customers. The startup has created a bot-building tool that uses AI and natural language processing technologies, requires no coding, and can be deployed anywhere in two weeks. Passage AI surpassed $1 million in annual recurring revenue within six months of launching its product in the second half of 2017 and currently has 20 employees, according to Raj.