Total amount raised
$150.8 Millions
Latest funding date
Location
Title
DevRev has successfully raised significant funding over multiple rounds, positioning itself as a key player in the conversational AI space. The platform offers a suite of tools designed to enhance business operations through AI-powered solutions.
Keep reading to explore the intricacies of DevRev's fundraising journey and the investors backing this innovative platform.
What Is DevRev?
DevRev, founded in 2020, is a company specializing in conversational AI solutions designed to enhance various business operations. The company is headquartered in Palo Alto, California, and was co-founded by Dheeraj Pandey and Manoj Agarwal.
DevRev offers a suite of AI-powered tools that include enterprise search, customer experience, customer support, and product development solutions. These tools aim to unify and make actionable the data across different business functions.
With a growing team, DevRev continues to innovate in the AI space, providing businesses with the technology needed to streamline operations and improve customer interactions.
How Much Funding Has DevRev Raised?
- Seed Round
- Amount Raised: $50M
- Date: July 2021
- Lead Investors: Dheeraj Pandey
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To build DevRev's developer-focused products and connect them with communities on platforms like Discord and GitHub.
- Seed Round
- Amount Raised: Not publicly disclosed
- Date: July 2023
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand DevRev's operations and development efforts.
- Series A
- Amount Raised: $100.8M
- Date: August 2024
- Lead Investors: Khosla Ventures, Mayfield Fund, Param Hansa Values
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further develop AI-powered tools and expand market reach.
Total Amount Raised: $150.8M. Current Valuation: Not publicly disclosed.
Key Investors
- Dheeraj Pandey
- Details: Dheeraj Pandey is the co-founder of Nutanix and a former CEO. He is also a current board member at Adobe.
- Investment Focus Areas: Startups bridging technical and business aspects, developer productivity, business integration.
- Notable Investments: Nutanix, DevRev.
- Mayfield Fund
- Details: Mayfield Fund is a venture capital firm that invests primarily in early-stage technology companies. It is represented by Navin Chaddha, Managing Director.
- Investment Focus Areas: Early-stage technology companies, transformative industries.
- Notable Investments: Lyft, Poshmark, SolarCity.
- Khosla Ventures
- Details: Khosla Ventures is a venture capital firm founded by Vinod Khosla. It provides venture assistance and strategic advice to entrepreneurs working on breakthrough technologies.
- Investment Focus Areas: Breakthrough technologies, transformative ideas, massive industry impact.
- Notable Investments: Square, DoorDash, Impossible Foods.
- Param Hansa Values
- Details: Param Hansa Values is an investment firm that focuses on high-growth potential companies. It has been involved in various funding rounds for innovative startups.
- Investment Focus Areas: High-growth potential, innovative startups, technology-driven solutions.
- Notable Investments: Not publicly disclosed.
- Industry Veterans
- Details: Several industry veterans have backed DevRev, bringing a wealth of experience and strategic insights to the company. These investors are known for their successful track records in the tech industry.
- Investment Focus Areas: Technology, innovation, strategic growth.
- Notable Investments: Not publicly disclosed.
What's Next for DevRev?
DevRev stands at the cusp of a significant opportunity, aiming to revolutionize the CRM landscape with its API-first, developer-centric platform. By leveraging machine intelligence, the company seeks to bridge the gap between developers and business customers, creating a unified experience that connects code to production issues and customer interactions. This approach aligns with the growing industry trend of integrating development and customer interaction data, positioning DevRev to capture a substantial market share.
As DevRev continues to expand its operations and team globally, future fundraising rounds seem likely. The initial success and backing from prominent investors like Mayfield Fund and Khosla Ventures suggest a strong potential for additional funding to support its ambitious growth plans. However, the company will need to navigate challenges such as scaling operations, maintaining a cohesive remote-friendly work environment, and competing with established CRM providers.
Use Clay to Get Funding Data
Sales professionals, take advantage of Clay's platform to access comprehensive fundraising data on companies like DevRev and gather other critical business insights.
Sign up for free on Clay and start leveraging these powerful tools today.
