How these IIM graduates have achieved help desk automation for 500 million employees worldwide through their SaaS startup

Before the COVID-19 pandemic, SaaS launched Solve artificial intelligence‘S website has 1,500 organic website traffic per month. However, with the beginning of the coronavirus pandemic and people working remotely, traffic began to rise. So much so that by June 2020, it reached 7,000 potential customers and then 15,000 in August.

“All these users or potential customers are interested in the services that Rezolve AI must provide,” said Saurabh Kumar, co-founder and CEO of Rezolve AI, headquartered in the United States and India. Rezolve AI is a smart service desk SaaS product. Provide “solution as a service”, in cooperation with your story.

Founded in 2017 by IIM Bangalore alumni Saurabh Kumar, Manish Sharma (Chief Commercial Officer) and Udaya Reddy (CTO, Head of Product and Engineering), headquartered in the United States and India Rezolve AI is an AI-led automated employee help desk. This start-up company aims to improve employee service experience and satisfaction through its automatic query analysis software, thereby disrupting the IT support market.

Saurabh explained that the Rezolve.ai team is Use AI to automate L1 support, which will help organizations cut costs by reducing human involvement. Rezolve AI’s intelligent service desk provides intelligent chat bots, conversational ticketing, intelligent knowledge management, seamless real-time agent chat, a small amount of micro-learning and automatic resolution skills. The founder explained that it is at Level 1 or the first support line.

The startup is headquartered in California, with offices in Chennai, Dehradun and Toronto. It has a team of more than 50 team members, most of whom are located in India and are supported by investors such as Tri-Valley Ventures, Venture Catalyst, Pentathlon VC, SLO Seed and Sand Hill Angels.

Start

Saurabh, Manish, and Udaya became friends while studying at the Indian Institute of Management (IIM) in Bangalore in 1999 and continued to pursue corporate careers after completing the MBA program.

Udaya maintains close contact with products and technologies in places such as IBM, and recently, before starting, he was the CTO of Accenture. On the other hand, Manish entered the sales and marketing field in the United States and led various marketing and growth teams at Infosys, iGate and Tech Mahindra. Moreover, Saurabh holds senior technical positions in large companies such as Wells Fargo and BNP Paribas. The three co-founders buy, sell, and implement technologies worth hundreds of millions of dollars each year.

Udaya runs the ServiceNow platform and understands how current technology leaders are limited to tracking problems and not solving them. At the same time, Manish is doing the transaction of outsourcing the service desk and implementing the service desk platform, and realizes how expensive and labor-intensive the whole process is. Saurabh runs an internal IT help desk for the company-and addresses the challenges of high costs and employee service levels.

After keen on starting a business and understanding the challenges faced by the service desk, the trio concluded that the service desk industry needs to be disrupted, and they decided to launch Rezolve AI.

What is the difference between Rezolve AI?

Saurabh explained that while traditional industries focus their products on agents, Rezolve AI is built for end users as employees. He added that the traditional service desk is built for tracking tickets, but Rezolve AI is mainly built for automated resolution. “Although the traditional service desk will not transfer any tickets, Rezolve will transfer up to 45% of the tickets,” Saurabh said.

He added that although traditional service desk platforms require technical implementation and consulting to deliver results, Rezolve AI not only provides software as a service, but also provides solutions as a service. “Our collective learning platform will provide out-of-the-box automation for the thousands of help employees need from the beginning,” Saurabh claims.

When it comes to the demand for such products, Saurabh said that all employees need support. He added that any employee working in any company needs a lot of internal support-around internal policies, company information, housekeeping information, sharing PowerPoint presentations, data sets, logos, and a lot of content from the human resources, marketing, and finance teams.

“Usually, people walk to the person next to them to ask for help, call the service desk or create a ticket, or send an email. This is not a great experience, and it is even costly for the company,” Saurabh explains Say.

This is where Rezolve AI focuses on “automatically solving” most of the repetitive problems faced by employees. According to him, about 80% of IT and HR service desk expenditures are spent on labor, while Rezolve AI focuses on providing faster and easier services at a fraction of current costs.

The company claims that employees only need to talk to the Rezolve AI application to get support in a few seconds and help employees by providing the correct information, categorizing issues, performing tasks, or creating tickets on their behalf.

Competition and target market

Rezolve AI has two kinds of competition-traditional ticketing systems, such as Freshdesk, Servicenow, Jira; and companies that only have automation, such as Moveworks and Aisera.

Saurabh claims that Rezolve AI is uniquely positioned for both of them. He said the startup stood out because it was the only pioneer in full-stack automation, and the product stood out because it focused on Microsoft Teams, which brought the startup’s potential market to nearly 500 million. He said that the MS team now uses the Microsoft 365 package, and it has 200 million employees actively using it every day around the world, and that this number is expected to grow to 500 million.

Revenue model

Rezolve AI is priced on a monthly model per employee. Saurabh said this is very different from traditional service desks, which are priced per agent and there is no incentive to reduce the number of agents required. In terms of growth, Rezolve AI claims to have grown by 400% in the past 12 months, which is in the context of the pandemic turning workplaces into remote workplaces.

The company has more than 30 corporate customers, including four Fortune 500 companies in the United States, Canada, India and other regions.

“We are adding four to five customers every month and intend to increase this rate by 10 times in the coming year,” Saurabh said.

Funding and future plans

So far, the company has grown from Tri-Valley Ventures, Risk catalyst, Pentathlon VC, SLO seed, and Dune Angel .

Saurabh said that the execution of this startup is capital efficient and there is still a lot of room from the last financing. Now, it is seeking to raise $10 million in Series A financing to support its expansion and strengthen its technology, with the goal of increasing the growth rate by 10 times.

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