CyborgIntell plans to expand into newer markets and increase headcount
CyborgIntell is an AI-led enterprise software company with solutions focused on the BFSI sector.
, an artificial intelligence (AI) driven enterprise software company, aims to expand its operations both in terms of hiring as well as getting into newer markets.
Focused on the financial services industry, CyborgIntell's AI platform simplifies the process of how organisations can leverage their data to enable them to perform functions like risk advisory, credit disbursal, and debt collection in a faster manner.
Founded in 2019, the Bengaluru-headquartered company has a major presence in the Indian market, with around 10 customers, which includes banks, insurance firms, and NBFCs. Besides, it has a small presence in South Africa.
Talking to Enterprise Story, Suman Singh, Founder & CEO, CyborgIntell, said the company has started a pilot project in the United States and plans to increase its sales and marketing presence in that country.
Singh claimed that the customers who have come to CyborgIntell have been largely through referrals and word of mouth.
As part of its future expansion plan, CyborgIntell is also looking at increasing its headcount across India, South Africa, and the US by adding another 100 people.
At present, the company has around 35 people with the majority of them focused on R&D activity in Bengaluru and Mumbai. According to Singh, CyborgIntell is largely a bootstrapped venture with a certain amount of funding and expects to break even soon.
The company has raised a total funding of $2 million in a pre-Series A round with participation from SenseAI, Pentathlon Ventures, and Ghosal Ventures.
On the technology aspect, the AI platform of CyborgIntell helps financial services companies monetise their offerings to customers in a much faster manner. According to Singh, the company has built a zero-code platform, which allows customers to integrate this technology within their systems in a short period of time.
The AI platform of CyborgIntell allows for automatic input of data and comes out with faster recommendations.
“We are building AI for everyone where there is elimination of repetitive tasks to drive value,” said Singh.
Edited by Megha Reddy
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