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These days, it seems like every company either wants or already offers an AI product or service. For startups building an AI product in this space, this is a really good time, but it’s not without its challenges — the technology is still early, and although many companies are interested in trying generative AI solutions, they’ve been slow to adopt them.
There are many reasons for this, but the main one seems to be the fear of AI hallucinations. “You can’t use (AI) in production for large enterprises if it’s lying,” said Pavitar Singh, co-founder and CEO of UnifyApps.
Singh feels his startup has a good solution for that: UnifyApps essentially connects a company’s SaaS apps and data to each other, and allows companies to build and deploy AI chatbots on top to interact with all the information. This approach reduces AI hallucinations, he says, because UnifyApps agents can essentially examine each other’s output based on company data.
UnifyApps is new to an already crowded space – bigwigs like Workato and Zapier already offer similar “unification” services, as do a slew of other startups. But Singh believes his startup’s AI-focused approach gives it an advantage because it relies on the ability to build AI-powered chatbots. “Organizations can build any number of agents: they can help HR, sales, marketing, legal, or finance,” he said.
Enterprises may be hesitant to adopt generative AI, but UnifyApp has already attracted more than 20 clients, including one of the world’s largest banks and a major telecom provider, Singh said.
Good traction is a great look for a startup, and investors seem to agree. The company has just raised a $20 million Series A funding round from ICONIQ Growth, less than six months after UnifyApp closed an $11 million seed funding round.
Singh founded UnifyApps last year after spending more than 11 years as CTO at Sprinklr, a customer experience management platform for global brands, which went public in 2021.
ICONIQ Growth doesn’t have many startups in its portfolio, but in this case, the company was well acquainted with Singh. “Pavitar was the genius mad scientist who was building all the amazing products for Sprinklr,” said Matt Jacobson, General Partner at ICONIQ.
ICONIQ invested in Sprinklr’s Series D in 2014, and Jacobson has spent many years serving on the company’s board of directors. He says he was so impressed by Singh and what he was doing at UnifyApp that he couldn’t pass up investing in the startup.
“The risks have become much higher with AI applications,” Jacobson said.
UnifyApp has 150 employees across offices in Gurgaon, Dubai and New York.
As for why the company has such a large team, Singh said UnifyApp wants to make sure its product is flawless so that larger companies can “adopt it safely.”
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