Inventive AI, an AI-based tool for streamlining and optimizing RFP (Request for Proposal) and sales questionnaire workflows, announced the successful closure of its seed funding round, raising $4 million. Sierra Ventures led this funding round, which included Y Combinator, SOMA Capital, and General Catalyst. The funding will accelerate Inventive AI’s goal of enhancing RFP processes through generative AI, empowering businesses to respond more effectively and efficiently to RFPs and questionnaires.
The company was launched by Dhiren Bhatia, a serial entrepreneur who experienced the RFP pain points firsthand at his previous startup, Viewics (Acquired by Roche), and AI experts Gaurav Nemade, former PM at Google Brain’s Project LaMDA, and Vishakh Hegde, a Stanford AI researcher and author of the book 3D Deep Learning.
The funding will enhance Inventive’s AI technologies, expand its product offerings, and grow its team to meet increasing market demand. The company plans to further integrate its platform with popular business tools and develop new features that enhance user experience and productivity.
With Inventive AI:
1.) Customers can generate first drafts ten times faster with accurate responses rooted in their knowledge sources.
2.) It is a centralized hub for all enterprise knowledge sources. From previously completed questionnaires and relevant documents to content residing within internal data systems such as gDrive, Sharepoint, Salesforce, Seismic, and more, any relevant content is automatically used to respond to questionnaires.
3.) The company’s content manager proactively flags conflicting and stale content by identifying issues within your knowledge sources, so you only use fresh and relevant content in your responses.
4.) The company offers a suite of AI agents designed to boost productivity and give you a competitive advantage. These agents can help research competitors, brainstorm ideas, summarize the RFP requirements, and manage compliance, among other tasks.
KEY QUOTES:
“We are on a mission to revolutionize sales intelligence with AI. With AI advancements, we’re building a platform laser-focused on helping customers win RFPs by automating content management, generating high-quality responses, and improving workflows by over 70% with minimal human intervention.”
– Dhiren Bhatia, Founder and CEO of Inventive AI
“Partnering with Inventive AI has been a game-changer for our team allowing us to respond to opportunities faster and with more quality and consistency as our business scales.”
– Jeremy Oakey, Vice President of Field Engineering at Spectro Cloud
“Dhiren, Gaurav, and Vishakh offer a unique combination of AI/ML expertise and seasoned startup scaling experience. Solving the RFP and security questionnaire problem requires technical precision and deep understanding into selling to the enterprise, which this team has.”
– Mark Fernandes, Managing Partner at Sierra Ventures
“Inventive AI’s intuitive platform automates document management and it simplifies team collaboration and compliance, which helps us achieve our team and business goals. I’m also delighted with the responsiveness and customer-oriented approach of the Inventive AI team.”
– Gleb Sinev, Product Owner at Salt Edge
