NASSCOM, FalconX, and Seaborne Capital led the $1.1 million fundraising effort for Rifa AI, a conversational AI platform that creates human-like voice AI solutions for businesses.
According to a press release from Rifa, the money will be used to expand its business in North America, improve its conversational AI platform for call centers, and create highly compliant, modular, and scalable voice solutions that satisfy the exacting standards of regulated industries.
Rifa AI, a cutting-edge conversational AI platform created in 2023 by Sameer Fulzele and Shubham Khoker, aims to revolutionize consumer interactions in regulated industries. By using AI instead of human labor, the platform seeks to assist contact centers in rebuilding their operations.
Voice AI agents can be deployed at scale using Rifa AI’s conversational AI platform, which integrates easily with an organization’s current systems, the company claims. Advanced AI models, policy-based workflows, structured decision trees, and backend APIs are combined to provide real-time, autonomous voice interactions that adhere to all applicable industry rules, including TCPA and HIPAA.
“We’ve built for complexity from day one, and this funding will help extend our platform to more enterprise customers. Our focus is on scaling voice workflows in sectors where human involvement has traditionally been essential due to compliance challenges. As AI agents become mainstream, the real question is whether they work where it matters most in high-stakes environments,” said Sameer Fulzele, co-founder of Rifa AI.
In industries including insurance and financial services, Rifa AI has processed more than 3 million minutes of customer contacts, lowering the number of calls handled by human agents by up to 70% and allowing AI voice agents to answer up to 60% of queries end-to-end.
