Engazify, an AI-powered bot available for enterprise communication platforms, has raised an undisclosed amount of funding through angel investor Vaibhav Domkundwar. The company runs a performance management bot which helps managers and HR make sense of their employee performance data and gather actionable insights and useful trends.
Vaibhav Domkundwar is a Silicon Valley-based angel investor who is currently the founder and CEO of ReadyContacts, a technology-powered marketing data intelligence company. He also founded Better Inc., a micro venture firm that creates & invests in innovative businesses which deliver value & impact and have a strong focus on profitability; PicBackMan and Nurture — marketing automation software for small & medium-sized businesses.
Engazify believes to have created an innovative way for teams to measure employee performance in a way that is accurate, real-time, and comprehensive. It claims that the AI-powered bot aka virtual assistant perfectly integrates within the systems that companies are already using like Slack, Microsoft, Atlassian, and Google.
Employees are now able to receive timely continuous feedback, not just from their managers, but also from their peers. The feedback is based on real context i.e. when it matters the most – like, right after a sales presentation, or on completion of a project.
On the backend, Engazify captures all the data automatically through chat and tracks performance metrics in real time. It also tracks inter-employee relationship scores and provides a team’s manager a real picture of employee performance & engagement.
In just around 6 months of going live, the company claims to have over 230 teams and more than 60,000 users spread across over 12 countries on its platform, who have shared more than 12k feedback messages till date. The company’s clientele includes brands such as Citrix, Office Depot and Multiply, among others.
As per the company, the current market size is $74 billion and is growing at a CAGR of 15 percent. In this field, it competes against the likes of Reflektive, Zugata, among others.
