Fibr AI, a startup based in San Francisco with an office in Bengaluru, is set to expand its sales and customer-facing teams in the United States. The company was started by Ankur Goyal and Pritam Roy in early 2023. Their mission is to disrupt the traditional digital marketing industry by leveraging the power of artificial intelligence to deliver highly personalized experiences for every user. Fibr AI now employs a staff of 23, including 17 in India and 6 in the U.S. This year, the company is on track to more than double its operational footprint and customer base.
Fibr AI targets approximately $5 million in annual recurring revenue (ARR) by the end of 2023, with a goal of securing around 50 enterprise customers. The company enriches current websites, running as the next layer on top. It smoothly fits into any company’s ad, analytics, and CRM infrastructure. Fibr AI approaches this problem in a new way by disrupting traditional agency and engineering-heavy models. Its autonomous systems are open 24/7, enabling all the businesses that use it to run thousands of experiments simultaneously rather than just a few dozen a year.
Ankur Goyal explained how the system works, stating, “Once it’s set up, nobody wants to think about it again.” This underscores Fibr AI’s mission to develop solutions that reduce ongoing management burden for trading partners.
Fibr AI’s technology designs immersive experiences that expand user discovery. It does all of this by tapping into the immense capabilities of large language models (LLMs) and AI chatbots. As enterprises continue to test and adopt Fibr AI’s platform, they especially want to know what the cost per experiment will be and what conversion lift we will see.
In Fibr AI’s first months, that calm atmosphere belied a struggle to draw clients. In fact, for the company’s first two years, they operated with one or two clients. Enterprises were understandably cautious and slow to adopt this new, experimental approach. Since then, Fibr AI has quickly grown its customer base to 12 active customers. Chief among them are some of the largest U.S. companies in the banking and healthcare sectors.
Accel’s partner, Prayank Swaroop said that Fibr AI’s technology was unique. He underscored its potential to turn one-to-many personalization into powerful one-to-one connections. He stated, “That part is still early, but the companies building for today’s needs while being ready for that shift tomorrow are the ones we want to back.” The combination of these comments reflects Accel Partners’ confidence in Fibr AI’s potential for growth and innovation.
Swaroop further remarked on the competitive landscape, mentioning that “incumbents have been slow in bringing out products.” This delay has opened doors for newer companies like Fibr AI to capture market share by offering advanced solutions that meet current demands.
While the specific amount of Fibr AI’s recent funding round was undisclosed, the financing undoubtedly represents confidence in the company’s growth ambitions and cutting-edge technology. The company has the potential to be hugely influential. It is in constant cultivation of its customer base and always working to deepen and diversify its offerings in the rapidly changing landscape of digital marketing.