AI startup 11x has raised $50 million in a Series B funding round led by the influential venture capital firm Andreessen Horowitz (a16z), boosting its valuation to $320 million. This funding round, which comes shortly after a $24 million investment led by Benchmark, brings 11x’s total funding to $76 million. Known for its autonomous AI-driven sales tools, 11x has gained substantial traction as it aims to redefine sales through digital worker automation.

11x’s Approach to AI-Powered Sales

Founded in 2022, 11x is focused on providing AI-based digital sales workers to assist in customer outreach and sales processes. Its offerings include two AI-powered digital workers: Alice and Jordan. Alice, an AI assistant, automates customer outreach and lead generation, streamlining communication with potential clients. Jordan, a more recent addition, functions as a multilingual sales representative capable of handling conversations in 30 languages. Together, these AI workers aim to support companies in managing sales tasks autonomously and efficiently.

According to CEO Hasan Sukkar, 11x is committed to creating an autonomous sales workforce. This vision directly challenges larger tech companies like Salesforce, which has also moved into the AI space with its own advanced tools for automating sales and marketing.

In an official statement, Sukkar said that 11x’s goal is “to deliver a fully autonomous workforce for sales” and that the company will continue investing in digital workers that cater to sales and marketing teams. In line with this, 11x also recently acquired Opkit, an automated AI-powered phone-calling service, to further strengthen its digital outreach capabilities.

For more insights on AI’s impact on sales automation, check out our latest article on AI in sales and marketing.

Growing Interest in AI-Powered Sales Management Tools

The Series B funding round, led by Andreessen Horowitz, underscores the growing interest in AI-based sales management tools. Venture capital firms have been actively investing in this space, given the rise in demand for automation across sales and marketing. Andreessen Horowitz, a16z, which led this funding round, is well known for backing over 20 AI-focused startups, including investments in Mistral AI, now valued at approximately $2 billion. With 11x now part of its portfolio, Andreessen Horowitz continues to reinforce its commitment to supporting innovative AI-powered ventures.

Other competitors are also gaining traction in the space, such as Regie.ai, which raised $10 million in funding led by Foundation Capital to develop its own AI-based sales management tools. Additionally, Artisan, which focuses on AI-enhanced sales solutions, secured $11.5 million in a seed round led by Oliver Jung, with contributions from HubSpot Ventures and Y Combinator. Both companies aim to bring enhanced automation to sales processes, leveraging AI to optimize interactions and improve client acquisition.

Competitive Landscape: Salesforce and HubSpot’s AI Expansion

With companies like 11x gaining momentum, established tech giants like Salesforce and HubSpot are also expanding their AI capabilities. In September 2024, Salesforce announced Agentforce, a suite of autonomous AI agents designed for sales, marketing, and commerce. This solution is part of Salesforce’s strategy to deploy 1 billion AI agents by the end of 2025, reflecting its goal to integrate AI into its platform fully. To further this mission, Salesforce has set aside an endowment of around $1 billion for its generative AI fund, aimed at supporting the broader AI startup ecosystem.

Similarly, HubSpot introduced Breeze AI at its 2024 OUTBOUND event. The tool offers a range of AI-powered automation features that streamline the marketing and sales journey, enhancing productivity and engagement. By investing in AI technology, both Salesforce and HubSpot are aiming to retain their competitive edge as AI-powered startups like 11x continue to disrupt the market.

For a deeper dive into AI-driven sales solutions and their competitive landscape, read Times of Tech’s analysis on leading AI sales tools.

The Road Ahead for 11x

With its latest funding, 11x plans to expand its suite of AI sales tools and further develop its digital worker models. The company aims to integrate more advanced AI functionalities that can autonomously manage complex sales operations, a move that could reshape traditional sales management.

The growing support for 11x from investors reflects a broader trend in venture capital toward funding AI startups, especially those catering to niche sectors like automated sales. Given the rise in AI-driven tools within established companies, 11x will need to continue innovating to maintain its competitive position.

As AI technology continues to mature, 11x’s success will likely inspire similar startups focused on digital worker applications in sales, marketing, and customer service. For the latest updates on AI funding and developments, visit Times of Tech and explore our recent stories on advancements in AI.

This latest funding round positions 11x as a key player in the emerging landscape of AI-driven sales solutions, underscoring the significant impact of automation on traditional sales models. By fostering innovation in autonomous digital workers, 11x is contributing to a transformative shift in how businesses approach sales, customer outreach, and market expansion.

Source – Global NewsWire by notified.