Greek Moveo.AI raises $2.6M to transform enterprise AI with private LLMs
Moveo.AI, a rising star in the enterprise conversational AI space, has announced a successful seed funding round, securing $2.6 million. The round was led by the Bulgarian VC Eleven Ventures, with additional participation from Uni.Fund and Charge.vc. Early backers, who initially invested $400,000 in a pre-seed round in 2021, have also doubled down on their investment, demonstrating their support for Moveo.AI’s vision and approach of AI technology to enhance customer experiences.
“We identified Moveo as a top contender to radically improve the way businesses interact with customers. Their impressive client roster, including big banks and retailers, speaks to their potential. We are excited to be part of the journey and contribute to this significant shift in customer engagement”, commented Svetozar Georgiev, Partner at Eleven Ventures.
Moveo.AI: Transforming customer experience with Generative AI
Moveo.AI is developing a Customer Experience (CX) platform that uses Generative AI for enterprise needs. Its mission is to make complex AI technology accessible and straightforward, empowering enterprises to make the most of their data, scale their operations, and offer immersive customer experiences. The company uses proprietary Large Language Models (LLMs) trained on historical and real-time data to create self-improving GenAI agents that deliver end-to-end customer and employee experiences.
The Greek company is on a mission to simplify complex AI technologies, making them accessible and practical for enterprises. While enterprises explore the latest advancements in Generative AI and seek automation beyond FAQs, Moveo.AI rises as the perfect blend of workflow automation and Generative AI. In a market where sophisticated AI solutions are critical for maintaining efficiency without sacrificing data privacy and security, Moveo’s LLMs stand out. They are fine-tuned for enhancing customer experience in business settings, surpassing third-party models like GPT-4 in latency, hallucination, and repetition, amongst other CX-related metrics.
Additionally, Moveo.AI’s role in advancing the future of Generative AI applications in FinTech has not gone unnoticed. The company recently secured first place in Southeastern Europe and Israel at the Mastercard Fintech Forum, highlighting its impact and potential. Additionally, Moveo.AI was selected for the exclusive Visa Innovation Program Europe, further cementing its position as a leader in the field.
Fueling future growth and innovation
The $2.6 million in new funding will allow Moveo.AI to significantly enhance its platform capabilities and proprietary LLMs, focusing on providing enterprises with private, personalized AI agents they can trust. The investment will also support the expansion of Moveo.AI’s research and development team, driving innovation and product development. In 2024, the company plans to continue its international expansion, particularly in the US, by scaling its business teams and forming strategic partnerships to deepen its regional presence.
“We are incredibly excited about this new round of funding, which marks a pivotal moment for Moveo.AI,” said Panos Karagiannis, CEO and co-founder of Moveo.AI. “This investment validates our team’s hard work and reinforces our mission to provide enterprises with secure, personalized LLM solutions they can rely on.”
With a presence in New York, Athens, and São Paulo, Moveo.AI has rapidly expanded its customer base, attracting established enterprises like Viva, Edenred, Avis, Kaizen Gaming (Betano-Stoiximan), Allianz European Reliance, and Alpha Bank. Over the past year, the company has experienced exponential growth, doubling its revenue and tripling its team. Currently, the company serves over 10 million users each month across 89 countries and 21 languages.
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