Insider Brief
- Inventive AI raised $4 million in seed funding, led by Sierra Ventures, to enhance its AI-driven platform for optimizing RFP and sales questionnaire workflows.
- The platform uses generative AI to automate content management, improve response accuracy, and increase productivity, reducing manual effort by over 70%.
- The funds will be used to expand AI technologies, integrate with popular business tools, and grow the team to meet market demand.
PRESS RELEASE — MOUNTAIN VIEW, CA/ACCESSWIRE/August 28, 2024 — Inventive AI, an AI-driven tool for streamlining and optimizing RFP (Request for Proposal) and sales questionnaire workflows, today announced the successful closure of its seed funding round, raising $4 million. This round was led by Sierra Ventures with participation from YCombinator, SOMA Capital, and General Catalyst. The investment will accelerate Inventive AI’s mission to enhance RFP processes through generative AI, empowering businesses to respond more effectively and efficiently to RFPs and questionnaires.
The company was founded by Dhiren Bhatia, a serial entrepreneur who experienced the RFP pain points firsthand at his previous startup, Viewics (Acquired by Roche), and AI experts Gaurav Nemade, former PM at Google Brain’s Project LaMDA, and Vishakh Hegde, a Stanford AI researcher and author of the book 3D Deep Learning.
“We are on a mission to revolutionize sales intelligence with AI,” said Dhiren Bhatia, Founder and CEO of Inventive AI. “With AI advancements, we’re building a platform laser-focused on helping customers win RFPs by automating content management, generating high-quality responses, and improving workflows by over 70% with minimal human intervention.”
“Partnering with Inventive AI has been a game-changer for our team allowing us to respond to opportunities faster and with more quality and consistency as our business scales,” said Jeremy Oakey, Vice President of Field Engineering at Spectro Cloud.
“Dhiren, Gaurav, and Vishakh offer a unique combination of AI/ML expertise and seasoned startup scaling experience,” said Mark Fernandes, Managing Partner at Sierra Ventures. “Solving the RFP and security questionnaire problem requires technical precision and deep understanding into selling to the enterprise, which this team has.”
“Inventive AI’s intuitive platform automates document management and it simplifies team collaboration and compliance, which helps us achieve our team and business goals,” said Gleb Sinev, Product Owner at Salt Edge. “I’m also delighted with the responsiveness and customer-oriented approach of the Inventive AI team.”
The funds will enhance Inventive’s AI technologies, expand its product offerings, and grow its team to meet increasing market demand. The company plans to further integrate its platform with popular business tools and develop new features that enhance user experience and productivity.
Key Features of Inventive AI:
- 10X Faster Drafts With Highly Accurate Responses: Using Inventive AI’s proprietary platform, customers generate first drafts 10 times faster with accurate responses rooted in their knowledge sources.
- Single Hub for All Your Knowledge Sources: Inventive AI acts as a centralized hub for all your enterprise knowledge sources. From previously completed questionnaires and relevant documents, to content residing within internal data systems such as gDrive, Sharepoint, Salesforce, Seismic and more, any relevant content is automatically used to respond to questionnaires.
- Fight Stale Content With AI Content Manager: Inventive AI’s content manager proactively flags conflicting and stale content by identifying issues within your knowledge sources, so you only use fresh and relevant content in your responses.
- Higher Productivity With AI Agents: Inventive AI offers a suite of AI agents designed to boost productivity and give you a competitive advantage. These agents can help research competitors, brainstorm ideas, summarize the RFP requirements and manage compliance among other tasks.
About Inventive AI:
Inventive AI is an AI-powered platform that transforms RFP workflows through generative AI, content management, and RFP intelligence. The platform enables businesses to respond to RFPs faster and more effectively, reducing the burden of manual effort and empowering teams to focus on winning proposals. Founded in 2023, Inventive AI is committed to innovation and excellence in proposal management. Learn more at www.inventive.ai and here on Youtube.
Media Contact:
Nina Pfister, MAG PR at nina@mooringadvisorygroup.com.
