AI-powered smart assistant Skedool.it raises funding from Kludein, Mohandas Pai

Skedool.it, an artificial intelligence-powered smart assistant, has raised an undisclosed amount of funding from Kludein LLC, a US-based fund, and a group of Indian angel investors.

The investors include Phanindra Sama, founder of redBus, Narayan Ramchandran, former country head of Morgan Stanley India, and Pranav Pai, who invested on behalf of Mohandas Pai.

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.

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Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.