AtomChat Secures Funding for Latin American Expansion

The Rise of Conversational AI in Sales

Many websites now utilize chatbots to provide instant answers to common inquiries, reducing the need to wait for a customer service agent. However, connection delays can occur, leading to session timeouts and requiring users to restart the process.

AtomChat Secures Seed Funding

AtomChat is a company developing conversational AI software designed to enhance the performance of sales teams. Their focus is on increasing conversions through asynchronous messaging on platforms like WhatsApp.

The company recently secured $3.15 million in seed funding. This round was led by Mucker Capital, with additional participation from Techstars, to facilitate accelerated product development and international expansion.

Founding and Inspiration

Erick Holmann and Rene Mouynes founded AtomChat in Panama City, Panama, in 2019.

Their collaboration spans over 15 years, having previously worked together on automating credit initiation for Citi and sales processes for Latin American telecommunications firms.

This venture represents their third startup, building upon insights gained from a prior outbound sales company, as Holmann explained to TechCrunch.

Latin America's Unique Messaging Landscape

A significant trend in Latin America is the preference for direct communication via messaging apps over traditional web browsing.

Platforms like WhatsApp, Instagram, and Messenger collectively boast 3.5 billion monthly active users who exchange approximately 20 billion messages each month.

Holmann believes that “conversational commerce with messaging is going to be to sales what browsers were to the internet in the 1990s.”

He emphasizes the demand for automation, but stresses the importance of maintaining a human touch and providing personalized assistance to customers.

How AtomChat Improves Sales Processes

AtomChat allows businesses to maintain continuity in conversations that unfold over extended periods – days, weeks, or even months.

This ensures that customer service representatives have access to complete interaction histories, eliminating the need for repetitive questioning.

Early adopters of AtomChat have reported substantial gains, with some experiencing a tripling of sales within just two months of implementation.

Investor Perspective

Andres Barreto, managing director of Techstars Boulder, invested in AtomChat after encountering the company during their participation in the accelerator program last year.

He highlights that Latin America is bypassing traditional e-commerce models, directly adopting messaging apps as the primary channel for online transactions.

Barreto notes that Holmann and Mouynes possess a deep understanding of the evolving technological landscape outside the U.S., recognizing opportunities that may be overlooked by companies focused solely on the American market.

He believes the increasing prevalence of spending through messaging and super apps presents a significant opportunity for AtomChat.

Future Growth and Expansion

The newly acquired capital will be allocated to further technology development as the company sustains a consistent 15% month-over-month revenue growth.

Over the past two years, AtomChat has established a diverse enterprise customer base spanning 14 countries.

Notable clients include Toyota, Hyundai, Ford, GNC, and Avis.

The platform has already facilitated over 15 million customer interactions and the transmission of 140 million messages.

Holmann concludes, “We are just getting started,” emphasizing their commitment to empowering sales teams with efficient conversation management tools.