Revenue Automation Startup MeetRecord Secures $2.7 Million in Pre-Series A Funding

Bengaluru, June 23, 2024 - MeetRecord, a revenue automation startup based in Bengaluru, has successfully raised $2.7 million in a pre-series A funding round. The investment was led by Singapore-based venture capital fund SWC Global, with additional participation from existing investor All In Capital. This latest funding round marks a significant milestone for MeetRecord, which plans to leverage the funds to enhance its AI-powered tools aimed at empowering revenue and sales teams in the service sector.

Founded in 2021, MeetRecord offers a B2B SaaS platform that utilizes artificial intelligence to analyze conversation data from various communication channels such as emails and calls. The insights derived from this data are used to develop coaching programs for sales teams to improve conversion rates and implement automated call-scoring systems to enhance efficiency. Snehal Nimje, cofounder and CEO of MeetRecord, emphasized the company's focus on the service sector, noting that their AI-related coaching and automation services are specifically tailored to the unique needs of these businesses. "Our model is finely tuned for the services sector, which no one is exactly focusing on," Nimje told ET.

MeetRecord's platform is designed to comply with SOC-2 and GDPR standards, ensuring the secure handling of conversation data for training purposes. The company operates on a subscription model that includes a 14-day trial period, after which businesses can opt for annual or semi-annual subscription plans, with pricing dependent on the number of users.

Since its inception, MeetRecord has garnered a client base of 36 companies, with around 80% of its clientele based in the United States and the remaining 20% in Europe. Notable clients include the law firm Top Dog Law and gym training consulting company Gym Launch. The company currently boasts an annual recurring revenue (ARR) of $250,000 and aims to reach an ARR of $1 million by the end of the year.

"We expect strong growth in the conversation intelligence market as companies aim to enhance their sales efficiency. MeetRecord, with its innovative focus on revenue automation, has developed a top-tier product that delivers significant value,” said Tuck Lye Koh, founding partner of SWC Global.

Prior to this round, MeetRecord had raised $310,000 in 2021 from All In Capital and Powerhouse Ventures. With this new infusion of capital, MeetRecord is well-positioned to expand its technological capabilities and market reach, solidifying its presence as a leader in the revenue automation space.