AI Sales Automation Leader 11x.ai Raises $50M in Series B Funding
11x.ai, a pioneering developer of AI-powered sales automation solutions, has successfully closed a \(50 million Series B funding round. According to multiple sources, the investment was led by prominent venture capital firm Andreessen Horowitz (a16z), valuing the company at approximately \)350 million.
Funding Trajectory and Valuation Growth
This latest funding milestone comes shortly after the company’s:
- $24M Series A (led by Benchmark)
- Participation from notable investors including 20VC, Project A, Lux Capital, and SV Angel
While the Series A was announced in September 2024, sources reveal the deal actually closed earlier in the year with a \(90 million valuation. The rapid valuation jump to \)350 million demonstrates strong investor confidence in 11x.ai’s growth potential.
Financial Performance and Market Position
Founder and CEO Hasan Sukkar shared with TechCrunch that the company is approaching $10 million in Annual Recurring Revenue (ARR). This places the Series B valuation at:
- 35x ARR multiple - notably more conservative than some AI compe*****s
- For comparison: AI search startup Hebbia recently raised at 54x ARR
Competitive Landscape in AI Sales Automation
11x.ai operates in the rapidly evolving AI Sales Development Representative (SDR) space, competing with:
- Regie.ai
- AiSDR
- Artisan
- Established players like Salesforce’s Einstein Sales Agents
Despite market saturation concerns from some investors, 11x.ai’s successful Series B demonstrates continued VC appetite for differentiated AI sales solutions.
Product Innovation: Digital Workforce Expansion
The company currently offers two advanced AI solutions:
Alice: AI SDR specializing in:
- Lead generation
- Customer research
- Outreach automation
Jordan: Multilingual AI phone representative capable of:
- Handling inbound/outbound calls
- Conversing in 30+ languages
Future Growth Directions
With this new capital infusion, 11x.ai may expand beyond sales automation into:
- AI-powered talent acquisition
- Human resources automation
- Additional verticals for their “digital worker” technology
The funding positions 11x.ai as a well-capitalized leader in the competitive AI sales automation market, though industry observers note it’s still early to declare clear market winners in this rapidly evolving space.
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