Revenue automation startup MeetRecord raises $2.7M in a pre-Series A funding round

Bengaluru-based revenue automation startup MeetRecord has raised $2.7 million in a pre-series A funding round.

The round was led by the Singapore-based venture capital fund SWC Global, with significant participation from existing investor All In Capital.

Prior to this round, the startup raised $310,000 in 2021 from All In Capital and Powerhouse Ventures. 

What does MeetRecord do?

Founded in 2021 by Snehal Nimje, MeetRecord offers a business-to-business (B2B) software-as-a-service (SaaS) platform that leverages artificial intelligence to analyze conversation data across various communication channels like emails and calls.

This analysis provides insights that help in coaching sales teams and implementing automated call-scoring systems to improve sales efficiency.

Purpose of fundraising

MeetRecord will use the raised funds to enhance its flagship product, focusing on improving the performance and speed of its RevenueLLM engine. 

The startup aims to reimagine layers of the sales tech stack using conversational data and AI, thereby empowering revenue and sales teams in the service sector.

"We are focusing specifically on the services businesses, so all our AI-related coaching and automation services are tailored to their experience. Though there are tools available, they are either too complicated or too simple. Our model is finely tuned for the services sector, which no one is exactly focusing on," Snehal Nimje, cofounder and CEO of MeetRecord, told ET.

MeetRecord's market presence

MeetRecord claims that it currently serves 36 clients, with around 80% based in the United States and the remaining 20% in Europe.

Some of its significant clients include the law firm Top Dog Law and the gym training consulting company Gym Launch.

Since its founding, the startup has grown rapidly. Its annual recurring revenue (ARR) currently stands at $250,000, and it aims to reach $1 million by the end of the year.

MeetRecord operates on a subscription model that includes a 14-day trial period. After that, businesses can choose between annual or semi-annual subscription plans, with pricing varying based on the number of users.