11x Secures $24 Million Series A Funding Led by Benchmark to Create the Future of Digital WorkAuthor of the article:
Published Sep 16, 2024 • 2 minute read
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11x Official Series A Announcement. GNWArticle contentInvestment to Accelerate the Development of AI-Powered Digital Workers and Expand Global Footprint
SAN FRANCISCO, Sept. 16, 2024 (GLOBE NEWSWIRE) — 11x, a pioneering AI startup transforming the modern workforce with autonomous digital workers, announced closing a $24 million Series A funding round today. The round was led by Benchmark, with participation from Quiet Capital, SV Angel, Abstract Ventures, Lux Capital, Operator Partners, Visionaries, Activant, HubSpot Ventures, Project A, 20VC, 20Growth, and 20Sales.
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Founded in 2022 by CEO Hasan Sukkar, 11x simplifies Go-to-Market (GTM) operations with AI-powered digital workers, allowing teams to focus on strategic work.
“We don’t target SaaS spend; we target hiring budgets. We’re in the business of selling work,” said Guillaume Roux-Romestaing, Head of Partnerships at 11x.
Addressing the GTM Challenge
Over the past two decades, the landscape of GTM tools has become increasingly fragmented. The proliferation of specialized software—from CRMs and marketing automation platforms to sales engagement tools and data enrichment services—has burdened revenue teams.
“Since Salesforce was invented in 1999, the accumulation of specialized GTM software in teams has led to fragmented systems and bloated operational costs. Each new tool often requires its own integrations, maintenance, and training, ultimately eliminating any efficiency gains these tools were supposed to provide,” explained Keith Fearon, Head of Growth at 11x.
The 11x Solution
11x is redefining the workforce by developing AI-powered digital workers that autonomously execute workflows in revenue teams. By automating roles traditionally performed by employees, these digital workers can be “hired” to handle tasks efficiently and at scale.
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“The key is to unbundle specific tasks traditionally performed by employees and to re-sell them,” noted Sarah Tavel, General Partner at Benchmark.
Earlier this year, 11x launched “Alice,” an AI-powered Sales Development Representative. Alice has gained significant traction by helping companies grow on autopilot by automating prospecting, multi-channel engagement, and personalization at scale. The recent launch of “Jordan,” an AI phone rep focused on inbound lead qualification, has already received interest from businesses aiming to streamline their “speed to lead” processes.
Investment Impact and Growth Plans
The Series A funding will accelerate 11x’s product development pipeline, expand its team, and enhance its global market presence, particularly in the US market, where the company has recently relocated its headquarters. The team continues to grow there, attracting key hires from leading tech companies such as CTO Prabhav Jain (former Head of Financial Services Engineering at Brex).
“In two years, we believe that digital workers will be a regular part of how companies around the world operate,” said Hasan Sukkar.
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About 11x
11x is an AI startup founded in 2022 by Hasan Sukkar. The company specializes in developing autonomous digital workers that automate Go-to-Market (GTM) workflows, enabling organizations to increase efficiency and reduce costs. 11x focuses on automating roles in GTM teams such as Sales, Marketing, and Revenue Operations.
For more information, visit 11x.ai.
Contacts:
Keith Fearon – Head of Growth @ 11x
Email: keith@11x.ai
Photos accompanying this announcement are available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/611dfd4d-804c-49a2-83fe-94fbdcdbff65
https://www.globenewswire.com/NewsRoom/AttachmentNg/52cc596e-a9c8-4d71-b427-dbfa36170db5
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