Moveo.AI secures $2.6M to enable enterprises to build private, personalized LLM Agents they can trust
Moveo.AI, an enterprise conversational AI startup, announces that it has raised $2.6 million in seed funding. Eleven Ventures led the seed round with Uni.Fund and Charge.vc participating.
Early backers who participated in the $400K Pre-Seed round in 2021 are also doubling down on their initial investment, demonstrating their support for Moveo.AI’s vision and approach of AI technology to enhance customer experiences.
While enterprises explore the latest advancements in Generative AI and seek automation beyond FAQs, Moveo.AI rises as the perfect blend of workflow automation and Generative AI. In a landscape where sophisticated AI-powered solutions are essential for maintaining operational efficiency and productivity without compromising data privacy and security, Moveo’s proprietary LLMs deliver unmatched data protection and reliability. Moveo’s LLMs are fine-tuned for enhancing customer experience in business settings, surpassing third-party models like GPT-4 in latency, hallucination, and repetition, amongst other CX-related metrics.
Moveo.AI has experienced exponential growth in the last 12 months, increasing its customer base with enterprises such as Betano, Allianz, and Alpha Bank, doubling its revenue and tripling its team. Moveo.AI recently opened a branch in São Paulo to serve the booming LATAM market. As a result, Moveo.AI now serves over 10 million users every month in 89 countries, speaking 21 languages.
Furthermore, Moveo.AI’s role in shaping the future of GenAI applications for FinTech was recognized through the highly prestigious first place in SE Europe and Israel during the Mastercard Fintech Forum and its selection for the exclusive Visa Innovation Program Europe.
The newly raised funds will enable Moveo.AI to significantly enhance its platform capabilities and proprietary LLMs, focusing on providing enterprises with private, personalized LLM agents they can trust. This investment will also support the team’s growth, particularly in research and development. In 2024, the company will continue its international expansion, targeting markets in the Americas. This process will involve scaling its business teams and forging strategic partnerships to establish a more significant regional presence.
“We are incredibly excited about this new round of funding, which marks a pivotal moment for Moveo.AI,” commented Panos Karagiannis, Moveo.AI’s CEO and co-founder. “This investment validates our team’s hard work and dedication and reinforces our mission to provide enterprises with secure, personalized LLM solutions they can rely on. With these new resources, we aim to enhance our platform’s capabilities, expand our talented team, and broaden our reach into new markets. We look forward to forging new partnerships and continuing to innovate in the AI space, thus advancing our vision of revolutionizing enterprise AI solutions.”
“When it comes to the customer journey – from support issues to sales transactions – people are expecting instant, accurate, relevant, just-in-time interactions. This is something humans can no longer deliver. But AI can! We identified Moveo as a top contender to radically improve the way businesses interact with customers. Their impressive client roster, including big banks and retailers, speaks to their potential. We are excited to be part of the journey and contribute to this significant shift in customer engagement”, commented Svetozar Georgiev, Partner at Eleven Ventures.
“Moveo stands out for its very strong technology team paired with the right business acumen, agility and execution capability necessary to thrive in a super volatile business landscape”, commented Sotiris Papantonopoulos, partner at Uni.Fund.
About Moveo.AI
Moveo.AI is developing a Customer Experience (CX) platform that uses Generative AI for enterprise needs. Its mission is to make complex AI technology accessible and straightforward, empowering enterprises to make the most of their data, scale their operations, and offer immersive customer experiences. The company uses proprietary Large Language Models (LLMs) trained on historical and real-time data to create self-improving GenAI agents that deliver end-to-end customer and employee experiences. With a presence in New York, Athens, and São Paulo, Moveo.AI’s customer base consists of established enterprises like Viva, Edenred, Avis, Kaizen Gaming (Betano-Stoiximan), Allianz European Reliance, and Alpha Bank.
