Article: Seattle Startup KredosAI Raises Additional Funding to Aid Companies in Late Payment Recovery

April 8, 2024 - KredosAI, a Seattle-based enterprise software startup, has announced a successful funding round aimed at accelerating its growth trajectory. The company, founded in 2020 by former T-Mobile executives Balaji Sridharan and Dave Thoms, specializes in leveraging artificial intelligence to assist companies in retrieving late payments from customers.

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In an environment where delinquency rates are on the rise across various industries, KredosAI provides a solution to help businesses recover revenue lost due to missed payments. By employing AI-driven communication strategies, the platform facilitates interactions with customers who have fallen behind on payments, streamlining the collections process and improving overall cash flow management for organizations.

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While the exact amount of the recent funding round remains undisclosed, a new SEC filing indicates a total of $2.1 million in fresh capital raised. StartFast Ventures, an early-stage firm based in Syracuse, N.Y., led the latest investment round, underscoring confidence in KredosAI’s potential to address a pressing need in the market.

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This latest infusion of capital builds upon KredosAI’s previous funding efforts, which amounted to approximately $1 million. The startup has attracted support from a diverse group of investors, including SeaChange Fund, SaaS Ventures, Stout Street Capital, Okapi Ventures, and Early Light Ventures, highlighting the broad appeal of its innovative approach to late payment recovery.

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With this additional funding, KredosAI is poised to further enhance its platform capabilities and expand its market reach, offering valuable assistance to companies navigating the challenges of late payment collection. As businesses continue to prioritize financial efficiency and liquidity management, KredosAI’s AI-driven solutions present a compelling value proposition for organizations seeking to optimize their accounts receivable processes and mitigate revenue losses.

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As the demand for efficient late payment recovery solutions grows amid evolving economic conditions, KredosAI remains committed to empowering businesses with the tools and technology needed to navigate financial challenges effectively.

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You can also read the story on Silicon Valley Journal's website

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