UnifyApp’s AI-powered app integration platform grabs $20M from ICONIQ Growth

Nowadays, it looks like each firm both desires to or is already providing an AI services or products. For startups constructing an AI product on this area, it’s a very good time, however they aren’t with out their challenges — the tech continues to be early, and although many firms are excited about attempting generative AI options, they have been slow to adopt it.  

There are numerous reasons why, however what seems to be foremost is the concern of AI hallucinations. “You may’t use [AI] in manufacturing for big enterprises if it lies,” mentioned Pavitar Singh, co-founder and CEO of UnifyApps.

Singh feels his startup has a very good resolution for that: UnifyApps basically connects an organization’s SaaS apps and knowledge to one another, and lets firms construct and deploy their very own AI chatbots on prime to interface with all the knowledge. This method, he says, serves to attenuate AI hallucinations, as a result of UnifyApps’ brokers can basically vet one another’s output based mostly on the corporate’s knowledge.

UnifyApps is new to an already crowded area — bigwigs like Workato and Zapier already provide comparable “unification” companies, as do a slew of different startups. However Singh believes his startup’s AI-focused method provides it an edge as a result of it bakes within the capacity to construct AI chatbots. “Enterprises can construct any variety of brokers: They can assist HR, gross sales, advertising and marketing, authorized, or finance,” he mentioned.

Corporations could also be hesitant to undertake generative AI, however UnifyApp has already attracted greater than 20 clients, together with one of many largest banks on the earth and an enormous telecom supplier, Singh mentioned.

Good traction is a good search for a younger startup, and buyers appear to agree. The corporate simply raised a $20 million Collection A funding spherical from ICONIQ Development, lower than six months after UnifyApp closed a $11 million seed spherical.

Singh based UnifyApps final yr after spending over 11 years as a CTO of Sprinklr, a buyer expertise administration platform for international manufacturers, which went public in 2021.

ICONIQ Development doesn’t have many early-stage startups in its portfolio, however on this case, the agency was properly acquainted with Singh. “Pavitar was the mad scientist genius that was constructing all of the unimaginable merchandise for Sprinklr,” mentioned Matt Jacobson, a normal accomplice at ICONIQ.

ICONIQ had invested in Sprinklr’s Collection D in 2014, and Jacobson spent a few years serving on the corporate’s board. He says he was so impressed with Singh and what he was doing at UnifyApp, that he couldn’t cross up investing within the startup.

“Stakes have gotten a lot increased with AI functions,” Jacobson mentioned.

UnifyApp has 150 staff throughout places of work in Gurgaon, Dubai and New York.

As for why the corporate has such an enormous crew, Singh mentioned UnifyApp desires to make sure its product is flawless so that enormous enterprises can “undertake it safely.”