Funding Alert

Atomicwork Secures $11 Million in Seed Funding Led by Matrix Partners and Blume Ventures

• ByStartupStory     |    September 5, 2023

Despite a challenging funding climate in both India and the US markets, Atomicwork, a B2B Software-as-a-Service (SaaS) startup, has successfully raised $11 million in its seed funding round. The investment was spearheaded by Matrix Partners and Blume Ventures, with contributions from Storm Ventures, Neon Fund, and notable angel investors from Silicon Valley and India.

Atomicwork, headquartered in San Francisco and Bengaluru, plans to allocate the funds to advance its product development, engineering, and marketing endeavors. CEO and co-founder Vijay Rayapati emphasized the company’s focus on AI engineering, expanding its presence in the US market, and augmenting its market capabilities, particularly in building domain-specific language models.

The startup, founded in 2022 by Vijay Rayapati, Kiran Darisi, and Parsuram Vijayasankar, offers an employee success solution that integrates employees, IT systems, and HR operations to drive business impact within organizations.

In the coming year, Atomicwork aims to onboard more than 100 mid-market and enterprise customers onto its platform, emphasizing its utilization of AI to streamline employee interactions by simplifying the tools used daily. The platform operates seamlessly with collaboration tools like Slack and Microsoft Teams, utilizing conversational intelligence to automate support, service delivery, and operations at scale.

While seed round funding typically falls within the range of $2 million to $5 million, Atomicwork secured a substantial investment of $11 million. Despite the challenging funding environment for startups, B2B SaaS companies have been attracting investments due to their perceived potential for returns.

Over the past few months, numerous venture capital firms have established funds dedicated to supporting SaaS startups in India. This includes early-stage venture firm Pentathlon Ventures, Arkam Ventures, Boldcap, Iron Pillar, and Chiratae Ventures, all of which have announced substantial investments in the B2B SaaS and AI space.

Sanjay Nath, Partner at Blume Ventures, expressed excitement about supporting Atomicwork’s journey in reshaping the future of employee experience and success.

Follow Startup Story