11x.ai, a startup developing AI-powered sales development representatives (SDRs), has raised $50 million in a Series B funding round led by Andreessen Horowitz (a16z). The new round values the company at approximately $350 million, significantly boosting its growth trajectory.
This comes after 11x.ai secured $24 million in Series A funding earlier this year, led by Benchmark and other investors including 20VC, Project A, and Lux Capital.
Founded by Hasan Sukkar, 11x.ai focuses on automating the sales process with AI-driven tools designed to streamline lead generation, research, and customer outreach. Its flagship AI SDR, Alice, handles sales lead generation, while Jordan, the company’s latest AI product, conducts phone sales in over 30 languages, managing both inbound and outbound conversations with human buyers.
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Expanding Beyond Sales Automation
With this new infusion of capital, the startup plans to expand its range of AI-powered digital workers, moving beyond sales representatives into areas like talent acquisition and human resources. The company is nearing $10 million in annual recurring revenue, with a valuation about 35 times its ARR, a more conservative figure compared to other AI startups.
Competing in a Growing Market
The Series B funding places 11x.ai ahead of competitors like Reggie.ai, AiSDR, and Artisan, as more companies race to innovate in the AI sales automation space. Despite skepticism from some investors about the differentiation between AI SDR startups, 11x.ai has attracted strong interest and substantial investment, showing promise in the rapidly evolving AI market.
