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OpenFi, a conversational AI platform for lead generation and customer nurturing, has closed a €585,000 pre-seed fundraising round.

The fund, led by Bijan Morvaridi and backed by Fortune Green Capital Ltd and Foundation Ventures Ltd, will be used to expand the product team, construct the second edition of the platform, interface with a UK financial institution, and collaborate closely with the FCA on AI compliance.

OpenFi’s SalesTalkAI generates human conversations via WhatsApp, email, and social media without recruiting more humans. SalesTalkAI uses natural language conversational AI to filter, qualify, and nurture leads before escalating those who are ready to close to human teammates. It boosts earnings by allowing the human team to focus on high-value prospects. SalesTalkAI may also communicate with existing customers to achieve high renewal rates without the need for a human workforce.

In today’s highly competitive industry, only 3% of performance marketing leads convert, resulting in wasted marketing resources and lost prospective clients. Additionally, Businesses that used messaging solutions to engage with customers reported a 58% increase in leads and a 34-fold improvement in ROI. Furthermore, when firms respond quickly to client complaints, they are 2.4 times more likely to return.

This puts many organizations in a catch-22 situation: more attentive customer care teams could enhance profitability, yet keeping around-the-clock customer support representatives is too expensive. This is why OpenFi is on a mission to empower and reimagine consumer conversations with artificial intelligence.

Related Content: Conversational AI platform Parloa raises €20M

According to Sam Oliver, CEO and Founder of OpenFi:

“This conversational AI technology allows businesses to provide a far more satisfying customer experience while increasing profit margins.” We’re creating a win-win situation for customers, businesses, and our investors.”

Although OpenFi is industry and platform-agnostic, its initial customers are in financial services. Starting a business requiring the greatest levels of security and expertise has enabled OpenFi to demonstrate its technology’s consistent, responsible, and safe supply. Moreover, OpenFi has already proven to be a significant tool nine months after its inception, with a three-month experiment with a mortgage brokerage resulting in a tripled conversion and revenue.

Bijan Morvaridi, the lead investor, stated:

“Having worked in the restaurant industry for years, I understand the importance of personal service. OpenFi’s technology is the first AI application I’ve encountered that seemed human and personal, which is why I’m supporting the firm.”

Nick Katz, Founding Partner of Foundation Ventures, commented:

“Having followed Sam’s previous firm Lead.Pro from inception to trade sale, I was impressed by his ability to establish product-market fit, focus on customer demands, and produce revenue. This is why Foundation Ventures was eager to support his new venture.”

Image Credit: OpenFi

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