Synthflow AI: Standout Voice AI Technology

The Rapid Expansion of the Conversational AI Landscape

Since the release of ChatGPT in November 2022, the market for conversational AI has experienced substantial growth. Projections from MarketsAndMarkets indicate this sector will evolve into a nearly $50 billion global industry by the year 2031.

Synthflow AI: A Focus on Enterprise Solutions

Among the numerous companies emerging in this dynamic space is Synthflow AI. Its strategy centers on delivering enterprise-level functionality coupled with streamlined setup processes, aiming to differentiate itself from competitors.

Platform Overview and Growth

Based in Berlin, Synthflow operates as a no-code platform. It empowers businesses to create and deploy customized, white-labeled voice AI customer service agents. Launched in 2023, the company has already secured over 1,000 customers and successfully processed in excess of 45 million calls.

Compliance and Integrations

Synthflow’s voice agents adhere to both HIPAA and GDPR compliance standards. Furthermore, they offer compatibility with over 200 integrations with widely used enterprise platforms, such as Salesforce, Twilio, and HubSpot.

The Genesis of Synthflow

According to Hakob Astabatsyan, co-founder and CEO, the company’s origins trace back to early 2023. He, along with co-founders Albert Astabatsyan (now CPO) and Sassun Mirzakhan-Saky (now CTO), began exploring the potential of OpenAI’s ChatGPT API for building no-code business applications.

From Text to Voice

Initial efforts focused on a text-to-text AI bot, but the team quickly shifted their attention to voice technology. The complexities inherent in voice applications sparked their enthusiasm and ultimately shaped the company’s direction.

The Challenges of Real-Time Voice AI

“We quickly discovered that achieving real-time voice interaction, with latency around 400 milliseconds and the ability to manage interruptions, presented a significant technical challenge,” Astabatsyan explained. “This complexity captivated us, leading to our decision to concentrate solely on voice bot development.”

Development and Expansion

Synthflow was formally established, and the remainder of 2023 was dedicated to product development. The initial version of the platform was released in early 2024, followed by an enterprise-grade version later in the same year. The company experienced a 15-fold increase in growth throughout the past year and boasts a customer retention rate exceeding 90% among its enterprise clients.

Call Volume and Velocity

“Currently, we handle 5 million calls each month,” Astabatsyan stated. “This represents a substantial increase from the 1 to 2 million calls we were processing last year, demonstrating the accelerating momentum of Synthflow.”

Series A Funding and Future Plans

The startup recently secured $20 million in Series A funding, led by Accel, with participation from existing investors Atlantic Labs and Singular. These funds will be allocated to team expansion, research and development initiatives, and the establishment of a U.S. office, the location of which is yet to be determined.

Investor Perspective

Luca Bocchio, a partner at Accel, shared that the Accel team had been closely monitoring Synthflow’s progress since its inception. Bocchio highlighted the founding team’s clear vision and their proactive approach to building integrations compatible with enterprise systems.

Enterprise-Grade Compliance

“From the outset, this team demonstrated a strong commitment to developing a technologically robust solution with extensive integrations across CRMs and other tools utilized by enterprises, ensuring enterprise-grade compliance,” Bocchio noted.

A Competitive Landscape

Despite Synthflow’s promising traction, the conversational AI market remains highly competitive. Other notable players in the field include Sierra, founded by Bret Taylor, which has raised $285 million in venture capital, and Bland AI, with over $50 million in funding.

Looking Ahead

“The pace of innovation in AI is remarkable, and developments often occur more rapidly than anticipated,” Astabatsyan observed. “However, we are confident in our position. We have achieved product-market fit, possess a well-defined product roadmap, and have a clear vision for our trajectory over the next three to five years.”