Skedool.it uses Natural Language Processing (NLP) and supervised machine learning to enable users to communicate with the service via e-mail, just like they would do with a human executive assistant in office. The program helps users schedule activities, and frees up time for other work.
“Professionals spend a lot of time on low-value scheduling activities. I was frustrated spending 4-5 hours everyday in scheduling jobs in my previous role as investor,” said co-founder Deepti Yenireddy in a chat with DEALSTREEETASIA. “Skedool can quickly and accurately handle all B2B scheduling and calendar management needs for less than five per cent of the cost of a full time assistant,” she said.
The service is currently available for customers in the US and Europe, with a base price of $100 for each user per month. The charges are higher for services like integration with a client’s CRM, and other marketing tools.
Skedool was founded last year by Yenireddy, who was previously with USGT Investors and Oppenheimer Funds, and Naveen Varma Alluri, who worked with Samsung and Qualcomm. Both are Indian Institute of Technology (IIT) Madras alumni. They have built a team of engineers who are graduates of the same IIT, and of Stanford University. The startup has offices in the Bay Area in California, and in India.
Yenireddy said that the quick response time helps clients’ conversion rate — initial outreach to businesses to getting a meeting scheduled — by 40 per cent. Customers include Hyperloop Transportation Technologies and Boomerang Commerce.
The funding will be used to scale its product development and operations, and hire people with expertise in NLP and machine learning.
“Skedool gets better over time. The algorithm gets more intelligent and efficient with more usage data available to it,” said Yenireddy.
The company will look to raise another round of funding later this year to hire more people in its core team, and scale operations.