Investing in 11x.ai

Today, we are excited to announce that our portfolio company 11x.ai has raised a $24 million Series A round led by Benchmark. The round comes 1.5 years after Project A led a $2 million Pre-seed round into the company at incorporation.

With the landscape of GTM tools becoming more fragmented over the past two decades, the proliferation of specialized software has left revenue teams burdened with integration and maintenance challenges. This has led to a need for large support teams implementing and maintaining perpetual integrations, eliminating any alpha gained from their implementation in the first place.

11x is redefining the workforce by developing AI-powered digital workers that autonomously execute workflows in revenue teams. By unbundling roles traditionally performed by employees, these digital workers can be “hired” to handle tasks efficiently and at scale. Their first two workers, Alice and Jordan, an AI sales development rep and an AI phone rep, are already supporting global companies in streamlining their processes and building more productive sales teams, by having their teams focus on important matters.

When we started working with Hasan, CEO and Founder of 11x.ai, his decision to focus on AI-powered digital workers came at a time when OpenAI had just launched ChatGPT and was gaining mass adoption at unseen speed. Like many other investors, we were in the midst of developing our theses on investing in companies along the value chain of large language models. What were going to be determining factors for winning this race, to what extent does geography matter, who will hoard power in this market versus where will opportunities for new substantial, defensible businesses be arising?

We would be lying if we said we had that all figured out at the time of the pre-seed. But when you meet a founder like Hasan, someone so intrinsically a founder without yet practically being one, the decision becomes pretty obvious. And the winning factors follow suit – incredible speed of execution, ability to attract world class talent and build a culture like no other, where every single person makes the company’s mission to help people focus on important issues their priority. An ambition and determination that is very unique to come around even as a venture capital investor.

We are super grateful we got to be there for the ride over the past 1.5 years and incredibly excited for the years still to come. Congrats, Hasan and team 11x.ai!

11x.ai is hiring across a number of roles in their San Francisco and London offices. Find out more here: https://www.11x.ai/careers.