Attentive Inc Secures $7 Million in Series A Funding for AI-driven SaaS Solutions

Attentive Inc., a SaaS startup specializing in AI-based sales automation, successfully raised $7 million in a Series A funding round. The funding was led by Vertex Ventures Southeast Asia and India, and had contributions from existing investors Peak XV Partners and InfoEdge Ventures, reflecting the growing trust in Attentive’s innovative approach and how they address the challenges faced by construction and outdoor service companies.

What is SaaS?

SaaS stands for Software as a Service. It is a software distribution model where applications are hosted by a third-party provider and made available to customers over the Internet. unlike the traditional software that requires the installation on individual devices, SaaS on the other hand allows users to access the applications through a web browser and eliminates any need for extensive local installation and maintenance.

What is Attentive Inc.’s Vision

Shiva Dhawan, Rishabjit Singh, and Aishwarya founded in 2017, Attentive aims to be the best technology partner for the construction and outdoor services industries. Shiva, the Co-founder, and CEO, aims to get AI-driven solutions to automate the existing outdated manual workflows and wants to bring a boost in productivity in these sectors.

Attentive Inc.’s Strategic Growth with Fundings

The plan made to use this recently acquired fund, is to enhance the different elements of its operations, to focus on product development, marketing, sales, and customer success. The company recently launched Accelerate and Beam AI, and those two will be the primary focus for development right now.

What is Accelerate?

Accelerate is an outdoor services business management software that has been designed to simplify operations and improve efficiency in the outdoor services industry. By automating archaic manual workflows, Accelerate promises a significant uplift in productivity for businesses.

What is Beam AI?

Beam AI is an AI-based sales automation platform for the construction industry, and it is set to change the way construction companies work. It focuses on automating sales processes, addresses the challenges faced by the construction sector, and aims at offering efficiency and accuracy.

Industry Recognition

Attentive’s innovative technology has gotten attention and support from various investors like Vertex Ventures. Nikhil Marwaha, Senior Executive Director at Vertex Ventures SEA and India, shows the need for technology solutions in industries like Outdoor Field Services and Construction, acknowledging Attentive’s promise of efficiencies.

Attentive’s growing client list includes many industry leaders like Brightview, Juniper, Sperber, US Lawns, Clean Scapes, Beary Landscaping, Sebert Landscape, Maldonado Nursery, Rexel, National Wholesale Supply, and Silicon Valley Mechanical, among others.

Attentive Inc.’s Expansion

Initially, the focus was on the landscaping industry, but now it is broadening its scope with an emphasis on construction operations. They are aiming to target general and sub-contractors, and are recognising the industry’s potential value at over $3 trillion. With the introduction of Beam AI, it became easy for Attentive.ai to provide multiple construction estimates, focusing on the specific needs of the industry.

While competitive solutions exist in the market, Attentive.ai differentiates itself through its deep-tech AI services. The company’s AI-based DNA, rooted in computer vision, sets it apart. Attentive.ai also boasts round-the-clock customer support from India, being cost-effective and trustworthy.

Attentive.ai’s Future Plans

Attentive.ai currently has an annual recurring revenue rate of $4 million, and it aims to boost its go-to-market team in the U.S. The company, comprising 160 employees, plans to hire more people and distribute funds for other product development. The focus remains on providing excellent customer service and improving its product offering.

Conclusion

Attentive Inc.’s successful Series A funding is a milestone for the AI-driven SaaS startup. With a clear vision, creative solutions, and strategies, Attentive.ai is well set to continue thriving in the construction and outdoor services industries, delivering efficiency and value to its clients.