OpenFi, a conversational artificial intelligence (AI) platform for lead generation and customer service, has closed a £500,000 pre-seed funding round.
Led by Bijan Morvaridi with additional investments from Fortune Green Capital and Foundation Ventures, OpenFi will use the funding to expand the product team, build the second version of the platform, integrate with a UK financial institution, and work closely with regulators on AI compliance.
Businesses engaging customers through messaging solutions are reportedly seeing a 58% increase in leads and a 34-fold increase in ROI. But customers are 2.4 times more likely to stay when businesses are quick to solve their problems.
OpenFi and its investors believe conversational AI can solve the issue of speedy customer replies while saving businesses money.
The startup has a tool called SalesTalkAI that generates human-like conversations over WhatsApp, email, and socials without having to hire more people.
Using natural language conversational AI, SalesTalkAI aims to qualify and nurture leads to handle more routine work, allowing the human team to focus on the “high-value leads.”
The startup’s CEO and founder, Sam Oliver, claims that his conversational AI technology will enable companies to give “a far more satisfying customer experience, at a higher profit margin.”
“We’re creating a win-win-win situation for customers, companies and our investors,” he added.
Morvaridi, owner of Belgravia restaurant Mina, said: “Having worked in the restaurant business for years, I know how important personal service is. OpenFi’s technology is the first AI application I’ve experienced that felt human and personal, that’s why I am backing the company.”
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