# Passage AI

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

- Industry: Software
- Headquarters: Mountain View, US
- Website: www.passage.ai
- Total disclosed funding: $10M
- Latest round: Series A (Apr 20, 2018)
- Investors on record: 10

## About

Passage AI, Inc. develops advanced conversational AI solutions that enhance customer engagement through innovative chatbot technology, aimed at improving service efficiency across diverse industries.Founded in 2016 and headquartered in Mountain View, US, Passage AI, Inc. specializes in chatbot technology that automates customer service. The company has raised a total of USD 4.00 mn as of February 1, 2022, with the latest funding led by LiveOak Venture Partners and participated by Next Coast Ventures, Secure Octane, and Tau Ventures.Passage.ai specializes in providing advanced conversational AI solutions, primarily focusing on chatbot technology that enhances customer interaction and engagement across various industries. Their core product offerings are designed to integrate seamlessly with existing systems, enabling businesses to automate customer service and improve operational efficiency. The chatbots facilitate real-time communication, addressing customer inquiries, guiding users through complex processes, and delivering personalized recommendations. These solutions aim to reduce response times and enhance customer satisfaction, catering to a diverse client base that includes retail, healthcare, and financial services sectors. Passage.ai’s products are marketed primarily in North America and Europe, serving end users ranging from small businesses to large enterprises seeking to leverage AI technology for improved customer experiences.Passage.ai operates on a subscription-based revenue model allowing clients to access their chatbot services through a tiered pricing structure. This model includes various pricing plans tailored to different business needs, typically ranging from basic service tiers for small enterprises to comprehensive packages for larger organizations requiring advanced features and higher usage limits. Business transactions are characterized by direct engagements with clients, where companies subscribe to their services for a set term, enabling ongoing updates and support. Flagship products such as their AI-driven chatbots form the cornerstone of these agreements, ensuring clients can maintain a competitive edge in their customer service offerings. This transactional framework ensures a steady revenue stream as clients renew their subscriptions based on satisfaction and continued need for automated customer engagement solutions.In February 2022, Passage AI, Inc. raised USD 4.00 mn in venture funding to expand its team. The company aims to enhance its product offerings and develop new solutions, although specific upcoming products and release dates have not been disclosed. Passage AI plans to broaden its reach into new markets, particularly in Asia and South America, by the end of 2023, leveraging the recent funding to support these growth initiatives.

## Funding rounds

- Series A, Apr 20, 2018, $7.3M — Storm Ventures, Blumberg Capital, 11.2 Capital, Engineering Capital, Seabed VC
- Seed, Sep 27, 2017, $3M — Storm Ventures, Gunderson Dettmer, 11.2 Capital, Milliways Ventures, Engineering Capital, Array Ventures, Seabed VC, NeoTribe Ventures, Rocketship.vc

## Investors

- Storm Ventures (https://capitalatlas.ai/funds/storm-ventures) — Seed, Series A
- Gunderson Dettmer — Seed
- 11.2 Capital (https://capitalatlas.ai/funds/11-2-capital) — Seed, Series A
- Milliways Ventures (https://capitalatlas.ai/funds/milliways-ventures) — Seed
- Engineering Capital (https://capitalatlas.ai/funds/engineering-capital) — Seed, Series A
- Array Ventures (https://capitalatlas.ai/funds/array-ventures) — Seed
- Seabed VC (https://capitalatlas.ai/funds/seabed-vc) — Seed, Series A
- NeoTribe Ventures (https://capitalatlas.ai/funds/neotribe-ventures) — Seed
- Rocketship.vc (https://capitalatlas.ai/funds/rocketship-vc) — Seed
- Blumberg Capital (https://capitalatlas.ai/funds/blumberg-capital) — Series A