INDIANAPOLIS (Inside INdiana Business) — An Indianapolis-based artificial intelligence company has closed on a $1.5 million Series Seed round of funding. ConverSight.ai, which has developed an AI and adaptive analytics platform, says the funding will be used to for additional technology investments, as well as hiring sales employees and expanding the business.
The funding round was led by Indianapolis-based Elevate Ventures, with participation from Colorado-based TechStars, Bread & Butter Ventures and Atland Ventures in Minneapolis, Tennessee-based The Angel Roundtable, and Carmel-based Charmides Capital.
“With this round, we will invest in growing our sales and marketing efforts as we focus on helping supply chain organizations react to market shifts impacted by COVID-19 while building resilience for future success,” said Ganesh Gandhieswaran, chief executive officer of ConverSight.ai.
As a result of the round, the company has added two seats to its board of directors, with Elevate Ventures appointing TechXcl founder Thomas Millay as its representative.
ConverSight.ai’s platform uses artificial intelligence to provide insights and data about a company’s sales, finance and human resources operations, among others. The company primarily serves the supply chain industry.
The funding round comes less than a year after ConverSight.ai raised $700,000 in seed funding from The Angel Roundtable.
Gandhieswaran appeared on Inside INdiana Business with Gerry Dick in January to talk about his vision for the company. You can view the full interview by clicking here.