# ConverseNow Technologies

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/conversenow-technologies

- Industry: Internet
- Headquarters: Austin, US
- Website: www.conversenow.ai
- Total disclosed funding: $29M
- Latest round: Series A (Aug 1, 2022)
- Investors on record: 10

## About

ConverseNow Technologies, Inc. specializes in Voice AI solutions aimed at enhancing operational efficiency for Quick Service Restaurants (QSR), automating order-taking processes with high accuracy and personalization.Founded in 2018 and headquartered in Austin, US, ConverseNow Technologies, Inc. develops innovative Voice AI platforms tailored for the QSR sector. The company was co-founded by Rahul Aggarwal and Vinay Shukla, who have a rich background in technology and entrepreneurship. In August 2022, the company secured USD 10.50 million in Series A funding led by Enlightened Hospitality Investments, bringing the total amount raised to USD 10.50 million and establishing a current valuation of USD 120.523 mn.ConverseNow offers a sophisticated Voice AI platform designed to enhance operational efficiency in the Quick Service Restaurant (QSR) sector. The core product provides virtual ordering assistants that engage in multi-conversation capabilities, allowing restaurants to automate the order-taking process with high accuracy and a personalized approach. This technology addresses significant challenges such as understaffed operations and long drive-thru lines, improving overall guest experience and operational performance. ConverseNow's solutions are implemented in over 1,200 stores across 43 states in the United States, serving a diverse clientele including national and international QSR chains, and integrating seamlessly with existing point-of-sale systems.ConverseNow generates revenue through a subscription-based model, primarily serving clients in the QSR space. Through this model, restaurant brands leverage its Voice AI solutions for order management and customer service enhancements. Engagements typically involve ongoing agreements for platform use, including setup and maintenance costs tailored to each restaurant's scale. This revenue structure fosters long-term partnerships, enabling clients to benefit from continuous updates and improvements to the Voice AI service, with revenue linked to the volume of transactions processed.In August 2022, ConverseNow Technologies, Inc. raised USD 10.50 million in venture funding, which will be used to scale deployment across many of the nation’s leading restaurant brands and enhance their technology. The company plans to expand its product offerings by developing new features for its Voice AI platform and aims to enter new markets across North America over the next two years.

## Funding rounds

- Series A, Aug 1, 2022, $11M — Enlightened Hospitality Investments
- Series A, Jul 29, 2021, $15M — LiveOak Venture, Bridge Investments, Moneta Ventures, Tensility Venture Partners, Craft Ventures, Knoll Ventures, 2048 Ventures, Bala Investments
- Seed, May 13, 2020, $3.3M — LiveOak Venture, Connexus Equity Management Partners, Bridge Investments, Tensility Venture Partners, Knoll Ventures, 2048 Ventures, Bala Investments

## Investors

- LiveOak Venture (https://capitalatlas.ai/funds/liveoak-venture) — Seed, Series A
- Connexus Equity Management Partners (https://capitalatlas.ai/funds/connexus-equity-management-partners) — Seed
- Bridge Investments (https://capitalatlas.ai/funds/bridge-investments) — Seed, Series A
- Tensility Venture Partners (https://capitalatlas.ai/funds/tensility-venture-partners) — Seed, Series A
- Knoll Ventures (https://capitalatlas.ai/funds/knoll-ventures) — Seed, Series A
- 2048 Ventures (https://capitalatlas.ai/funds/2048-ventures) — Seed, Series A
- Bala Investments (https://capitalatlas.ai/funds/bala-investments) — Seed, Series A
- Moneta Ventures (https://capitalatlas.ai/funds/moneta-ventures) — Series A
- Craft Ventures (https://capitalatlas.ai/funds/craft-ventures) — Series A
- Enlightened Hospitality Investments (https://capitalatlas.ai/funds/enlightened-hospitality-investments) — Series A