Building on its success, Conveyor is expanding its AI-powered automation to handle requests for proposals (RFPs), a critical component of many sales processes. This expansion is expected to attract new customers beyond the tech sector and has already helped the company secure a $20 million Series B funding round led by SignalFire. Despite the potential of AI in this domain, Conveyor emphasizes the importance of maintaining strict security measures to ensure customer data remains confidential and isolated. The company faces competition from other startups like Loopio, Responsive, and Rohirrim, which are also developing software for RFPs and security questions.
Key takeaways:
- Conveyor automates the vendor security and compliance review process, significantly reducing the time and effort required for software vendors to complete these tasks.
- The company leverages AI, particularly after the introduction of ChatGPT, to fill out over 90% of customer security questions autonomously and accurately.
- Conveyor's AI-powered automation is expanding into requests for proposals (RFPs), broadening its customer base and attracting additional investment, including a $20 million Series B funding round.
- Security and data isolation are critical for Conveyor, ensuring that customer data remains confidential and is not mixed with other clients' information.