CRMs, the lifeline of any sales team, are only as good as the data that is collected and inputted. In today’s era of multi-touchpoints with prospects, there are more and more customer interactions that are across a multitude of different channels; often disparate. Glyphic AI is a platform that uses conversational AI to gather, automate, and process unstructured data across all channels, savings hours of manual work. Centralizing customer interaction data provides unprecedented intelligence data for sales teams to drive revenue and also provides organizations with a conceptual and systemic framework of how customers and prospects interact with the company. All data on the platform is easily queriable using conversational language rather than complex commands. By effectively creating a single source of truth when it comes to customer data, Glyphic also serves as a valuable resource for sales onboarding as well as for maintaining a consistent brand identity across the organization. Currently in closed beta, Glyphic expects to open up the platform to the public by year’s end.
London TechWatch caught up with Glyphic AI Cofounder and CEO Adam Liska to learn more about the business, the company’s strategic plans, recent round of funding, and much, much more.
Who were your investors and how much did you raise?
We secured $5.5M in pre seed funding led by Point72 Ventures with participation from The Creator Fund, Dhyan Ventures (Amar Shah, cofounder of Wayve and Charm Therapeutics), and angels including Mehdi Ghissassi (Head of Product at Google DeepMind) and Rushin Shah (Director at Google Bard).
Tell us about your product or service.
Glyphic processes vast amounts of unstructured data from customer interactions across all channels. It learns, automates, and provides insights that were previously inaccessible. We ultimately help businesses to optimize revenue strategies and increase conversion rates.
What inspired the start of Glyphic AI?
Historically, sales teams have struggled to make data-based decisions because of their reliance on subjective and incomplete information. Devang and I are former Deepmind staffers, so we are ideally positioned to understand how AI can bring structure into this mess of unstructured data.
How is it different?
From our experience from Deepmind, Apple and Spotify, we built the conviction that AI will fundamentally change the way we work with software. Opposed to traditional SaaS tools in the space, Glyphic will make the data work for sales reps, when and where they need it – not the other way around.
What market you are targeting and how big is it?
The CRM industry is a $46B market in the US alone. Not included other Geos (such as Europe) as well as the huge Business/Sales Intelligence Software segment.
What’s your business model?
We will work on a subscription basis, with varying rates based on usage, integration depth, and need for customisation.
How are you preparing for a potential economic slowdown?
Selling will always be at the centre of an organization’s success. In an economic downturn, it will become even more important for companies to block any additional revenue potential they can find in their pipeline with which we can help.
What was the funding process like?
The conditions are tougher in 2023 than they have been in the last 5 or 6 years, and dozens of stats are here to confirm it. The market is more competitive, investors are more cautious than before, but we have a great product with unique proprietary technology addressing a real concern. We’re thrilled that our investors saw that!
What are the biggest challenges that you faced while raising capital?
The overall lack of confidence in the technology industry. What the crypto crash and subsequent FTX scandal did rippled way beyond the blockchain and crypto space, early-stage investments in tech overall were at a standstill for a quarter late last year, we’ve never seen anything like it. We’re really happy we secured funds, which will help us achieve our next bout of growth.
What factors about your business led your investors to write the cheque?
AI is here to stay because it’s proven that it has the potential to transform nearly every industry. During the downturn, it quickly became apparent that some categories were less affected than others, and AI was one of them.
What are the milestones you plan to achieve in the next six months?
We are currently working in a closed beta mode, and slowly but steadily onboarding customers on or waiting list. During the next 6 months, we want to have the capacity to onboard everyone who wants to use Glyphic.
Also, until now, our product pretty much lives behind closed doors. In the coming months, we want to more and more surface it to the world and maybe even make a free version available for everyone to showcase the great technology that we are building.
What advice can you offer companies in London that do not have a fresh injection of capital in the bank?
Knowing how to run your business in a bootstrapped way is key, especially in the current conditions. If you can keep your business afloat with no extra cash, you will truly use the investors’ extra cash to fuel whatever you are doing.
I also think that funding should go back to what it was 10 years ago, a plus not a must. It’s better for the market and overall better for founders as well.
Where do you see the company going now over the near term?
The sales tech stack is a mess and, overall, sales tech is a packed segment. It might be counterintuitive, but we want to become a consolidation layer, so sales reps do not need to interact with more than 10 different SaaS tools in a day.
What’s your favourite outdoor activity in London?
I know it’s boring, but running in Hampstead Heath – such a lovely area.
