RevComm Inc., a leading B2B SaaS startup that develops AI-driven communication solutions “MiiTel”, completed a $10 million Pre-Series B investment round, raising its total capital to $32 million.
New investors Salesforce Ventures and tb Innovations joined Sony Innovation Fund by IGV, WiL, and ALL STAR SAAS FUND in this round. UPSIDER Capital’s UPSIDER BLUE DREAM Fund loaned and Money Forward Kessai provided asset finance.
RevComm’s first funding announcement since October 2020’s 1.5 billion yen Series A investment. The company additionally borrowed 1.7 billion yen from Shoko Chukin Bank, SBI Shinsei Bank, Japan Finance Corporation, Shizuoka Bank, and Mitsubishi UFJ Bank. RevComm has raised 4.95 billion yen ($32 million).
Read also- Glamera’s GMV Exceeds SAR 1 Billion, Verifying its Saudi Market Leadership
“RevComm has demonstrated significant progress in supporting various forms of communication, including telephone, online meetings, and face-to-face interactions. They have consistently provided in-depth data analysis to meet the demands of the digital society. Since the Series A round, we have been proud to be part of this journey as shareholders, and we are confident that they will continue to leverage the latest AI technology to address their customers’ challenges. We will continue to support them,” said Kazuto Hatano, Representative Director and President of Sony Ventures.
The funding from this round will improve RevComm’s AI-driven conversation analysis service “MiiTel.” development and sales infrastructure. The funding will also fund new service development, worldwide expansion, and organisational infrastructure enhancements.
Read also- Japan-Based Sony has Secured $700 Million in Funding
RevComm only launched MiiTel Phone, which used AI to analyse phone calls, during its 2020 Series A fundraising round. Since then, RevComm has introduced MiiTel Meetings and RecPod. These systems analyse and visualise online and offline meeting audio exchanges, boosting company productivity. In addition to comprehensive analytics, MiiTel automatically records, transcribes, and generates meeting minutes.
Takeshi Aida, CEO of RevComm Inc., stated, “Since the Series A funding round in 2020, we have operated our business without equity financing, relying solely on operational cash flow and debt. This Pre-Series B funding round was raised through mezzanine financing by CE, similar to the Pre-Series A round in 2019. Moving forward, we will continue to optimize our balance sheet with a focus on our Weighted Average Cost of Capital (WACC) and actively invest to maximize growth while maintaining capital efficiency.Now that generative AI has become widespread, we believe that our mission is to create an environment in which MiiTel user companies can make the most of AI by turning each company’s voice data into an asset as big data. We will use the funds we have raised this time to strengthen our services as an application layer, accelerate our efforts in the data layer, and promote the development of services that utilize new AI technology,” added Takeshi Aida..”
Tokyo-based RevComm Inc. has operated in Indonesia since 2021 and services over 78,000 consumers in Japan, Indonesia, and the US. Popular Indonesian companies including Orang Tua Group, Astra International, BPJS Kesehatan, and the Ministry of Manpower trust MiiTel.
About Revcomm
RevComm is a Tokyo-based firm providing Voice x AI-enabled cloud services. It’s “To create a new way to communicate and spark innovation throughout the world” . They provide the AI-enabled cloud IP phone “MiiTel” as our first product.
