AI Sales Rep Developer 11x.ai Raises $50M in Series B Funding Led by A16Z

11x.ai, a rapidly growing startup developing AI-powered sales development bots, has secured approximately $50 million in Series B funding, according to sources at *TechCrunch*. The funding round was led by Andreessen Horowitz, valuing the company at around $350 million. This new infusion of capital follows the startup's $24 million Series A, which closed earlier in 2024 with Benchmark leading the round alongside investors like 20VC, Project A, Lux Capital, and SV Angel. At the time of the Series A, the company was valued at $90 million, indicating significant growth since then.

Founded by Hasan Sukkar, 11x.ai has reached nearly $10 million in annual recurring revenue (ARR). With the Series B valuation at about 35 times ARR, 11x.ai’s financial metrics are considered more conservative than those of some competitors. For instance, Hebbia, another AI-driven company, raised its Series B at 54 times ARR. Despite the competitive landscape, investors are bullish on 11x.ai, positioning it ahead of rivals in terms of both valuation and capital raised.

11x.ai focuses on developing AI sales development representatives (SDRs) that automate lead generation, research, and customer outreach. Its two primary AI bots, Alice and Jordan, are designed to handle distinct sales functions. Alice serves as a sales lead generation and outreach tool, while Jordan acts as an AI-powered phone sales representative capable of conversing in over 30 languages, managing inbound and outbound communications with potential buyers.

While 11x.ai currently leads the AI SDR space with its latest funding, it faces competition from other AI sales development startups like Reggie.ai, AiSDR, and Artisan, as well as incumbents like Salesforce, which are also introducing autonomous sales agents. Despite concerns about the similarities between offerings from various startups, 11x.ai's Series B round signals that investors see promise in its approach and are willing to back the company with significant capital.

11x.ai, a rapidly growing startup developing AI-powered sales development bots, has secured approximately $50 million in Series B funding, according to sources at *TechCrunch*. The funding round was led by Andreessen Horowitz, valuing the company at around $350 million. This new infusion of capital follows the startup's $24 million Series A, which closed earlier in 2024 with Benchmark leading the round alongside investors like 20VC, Project A, Lux Capital, and SV Angel. At the time of the Series A, the company was valued at $90 million, indicating significant growth since then.

Founded by Hasan Sukkar, 11x.ai has reached nearly $10 million in annual recurring revenue (ARR). With the Series B valuation at about 35 times ARR, 11x.ai’s financial metrics are considered more conservative than those of some competitors. For instance, Hebbia, another AI-driven company, raised its Series B at 54 times ARR. Despite the competitive landscape, investors are bullish on 11x.ai, positioning it ahead of rivals in terms of both valuation and capital raised.

11x.ai focuses on developing AI sales development representatives (SDRs) that automate lead generation, research, and customer outreach. Its two primary AI bots, Alice and Jordan, are designed to handle distinct sales functions. Alice serves as a sales lead generation and outreach tool, while Jordan acts as an AI-powered phone sales representative capable of conversing in over 30 languages, managing inbound and outbound communications with potential buyers.

While 11x.ai currently leads the AI SDR space with its latest funding, it faces competition from other AI sales development startups like Reggie.ai, AiSDR, and Artisan, as well as incumbents like Salesforce, which are also introducing autonomous sales agents. Despite concerns about the similarities between offerings from various startups, 11x.ai's Series B round signals that investors see promise in its approach and are willing to back the company with significant capital.

Looking ahead, 11x.ai has ambitious plans to broaden its suite of AI-driven digital workers, moving beyond the sales domain and into other crucial areas like talent acquisition and human resources. These sectors, much like sales, are ripe for automation and efficiency improvements through AI technology, offering significant opportunities for the startup to expand its footprint and address broader business needs.

With the substantial funding secured through its Series B round, 11x.ai is in a strong position to accelerate its growth and drive innovation. This fresh capital injection will enable the company to continue refining its AI technologies, scale its existing solutions, and invest in the development of new digital workers tailored to different functions. By doing so, 11x.ai aims to create a comprehensive AI workforce capable of handling a diverse range of tasks across industries, from generating sales leads to managing recruitment processes and employee engagement.

The move into talent acquisition and human resources could be particularly transformative for businesses that are struggling with high recruitment costs, lengthy hiring processes, and talent shortages. By leveraging AI, 11x.ai has the potential to streamline recruitment workflows, from initial candidate sourcing to interviews and onboarding, thereby improving efficiency and reducing time-to-hire.

Moreover, the company’s continued focus on expanding its offerings beyond sales underscores its long-term vision to create a suite of digital employees that can tackle various administrative and operational challenges in businesses. This could include tasks like customer service, payroll processing, and employee training, positioning 11x.ai as a key player in the growing trend of workplace automation.

As 11x.ai explores these new applications of its AI technology, the company is likely to attract even greater interest from investors and clients alike, who are increasingly seeking innovative solutions to enhance productivity and cut costs in a competitive global marketplace. By positioning itself at the forefront of AI-driven workforce solutions, 11x.ai is well on its way to solidifying its role as a leader in the next wave of AI innovation, with the potential to revolutionize how businesses manage not only their sales efforts but also their workforce operations.