AI-powered application integration platform UnifyApp raised $20 million from ICONIQ Growth

Nowadays, it looks like every company wants or already offers an AI services or products. It’s a extremely good time for startups constructing an AI product on this space, however it’s not without its challenges – the technology continues to be in its early stages, and while many firms are interested by trying out generative AI solutions, they’re slow to implement them.

There are many reasons, but crucial appears to be the fear of hallucinations of artificial intelligence. “You can’t use (AI) in manufacturing in large enterprises if it lies,” said Pavitar Singh, co-founder and CEO of UnifyApps.

Singh thinks his startup has solution for this: UnifyApps essentially connects an organization’s SaaS applications and data together and allows firms to construct and deploy their very own AI chatbots to speak with all their information. He says this approach minimizes AI hallucinations because UnifyApps agents can essentially confirm one another’s results against the corporate’s data.

UnifyApps is recent to an already crowded space – big firms like Workato and Zapier already offer similar “unification” services, as do tons of other startups. However, Singh believes his startup’s AI-centric approach gives it a bonus because it leverages the power to create AI chatbots. “Enterprises can create as many agents as they want: they can help with HR, sales, marketing, legal or finance,” he said.

Companies could also be hesitant to adopt generative AI, but UnifyApp has already attracted greater than 20 customers, including one among the world’s largest banks and a big telecommunications provider, Singh said.

Good traction is an important search for a young startup, and investors appear to agree on that. The company just raised a $20 million Series A funding round from ICONIQ Growth, lower than six months after UnifyApp closed a $11 million seed round.

Singh founded UnifyApps last yr after spending greater than 11 years as chief technology officer at Sprinklr, a customer experience management platform for global brands that went public in 2021.

ICONIQ Growth doesn’t have many early-stage startups in its portfolio, but on this case, the corporate knew Singh well. “Pavitar was a mad scientist, a genius who built all the amazing products for Sprinklr,” said Matt Jacobson, general partner at ICONIQ.

ICONIQ invested in Sprinklr’s Series D in 2014, and Jacobson spent a few years on the corporate’s board. He says he was so impressed with Singh and what he was doing at UnifyApp that he couldn’t pass up his investment within the startup.

“The stakes are much higher when it comes to AI applications,” Jacobson said.

UnifyApp has 150 employees across offices in Gurgaon, Dubai and New York.

As for why the corporate has such a big team, Singh said UnifyApp desires to ensure that its product is error-free so that giant enterprises can “safely adopt it.”