Nov 11 (Reuters) – AI agent developer Rox said on Wednesday it had raised $100 million in a funding round that valued the company at $1.3 billion, as the San Francisco-based startup expands its platform for large enterprises.
Here are more details:
• The Series B round was co-led by General Catalyst and March Capital, with participation from existing investors Sequoia Capital and Factory and new investors Databricks Ventures and Prosperity7 Ventures
• The funding comes as investors show growing interest in AI agents that can automate enterprise workflows, with companies seeking to improve efficiency.
• Rox develops specialized AI agents that automate sales processes, including generating leads, booking meetings, managing deals and expanding customer accounts within existing systems
• Rox’s customers include Puma, Groq and Ramp, according to the company’s website
• The company’s annual recurring revenue grew more than tenfold in its first year in the market, Rox said
• Rox said it would use the funds to advance its AI research, develop custom models and expand its enterprise customer base across the healthcare, industrial, financial services, energy and technology sectors
(Reporting by Prakhar Srivastava in Bengaluru; Editing by Tasim Zahid)
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