Avarra, a San Mateo, CA-based enterprise avatar and AI simulation company, has raised $8 million in seed funding.
The company also unveiled its fully interactive AI-avatar-based enterprise application.
Investors
The round was led by Lightspeed Venture Partners, with participation from GTM Fund, Firsthand Alliance, and notable industry figures like John W. Thompson.
Lightspeed Venture Partners is a multi-stage venture capital firm with $25 billion in assets under management (AUM) globally. The firm focuses on accelerating disruptive innovations and trends across the enterprise, consumer, health, and fintech sectors. Over the past two decades, Lightspeed has backed hundreds of entrepreneurs and helped build more than 500 companies worldwide.
Avarra Use of Funds
The company plans to expand its technology into additional areas such as coaching and interviewing in future iterations.
About Avarra
Founded in 2023, Avarra offers an AI-powered simulation platform designed to enhance sales training and ramp-up processes for sales professionals. They uses 3D avatars powered by large language models (LLMs) to simulate realistic customer sales meetings. Its first application delivers realistic 3D AI avatars trained from web meeting transcripts and best practice playbooks that accurately simulate customer sales calls. Avarra also provides feedback based on best practices, allowing sales teams to refine their techniques in a controlled, realistic setting.
Funding Details
Company: Avarra
Raised: $8.0M
Round: Seed Round
Funding Date: October 2024
Lead Investor: Lightspeed Venture Partners
Additional Investors: GTM Fund, Firsthand Alliance, John W. Thompson
Company Website: https://www.avarra.ai/
Software Category: Avatar and AI Simulation
Source: https://www.prnewswire.com/news-releases/avarra-exits-stealth-announces-8m-seed-funding-and-general-availability-of-industrys-first-ai-avatar-based-enterprise-application-302266650.html