Vambe's AI agents are particularly successful in Latin America due to the region's preference for conversational business interactions. The company plans to expand further in Mexico, where 15% of its revenue is currently generated, and cater to Spanish-speaking businesses in the U.S. The funding will be used to build out its team and continue developing its technology.
Key takeaways:
- Vambe, a Santiago, Chile-based company, pivoted in March 2024 to focus on AI agents to help small and medium-sized businesses automate communications with customers and close sales on platforms like WhatsApp.
- Vambe's annual recurring revenue (ARR) surged from $20,000 to $1 million since its pivot. The company recently raised a $3.85 million seed round led by Brazil-based VC firm, Monashees, with participation from Mexico-based investor Nazca and U.S.-based M13.
- 15% of Vambe’s revenue is currently generated in Mexico and the company plans to expand further in that country. This funding round was M13’s first investment in a Latin American startup.
- Vambe is also looking to cater to Spanish-speaking businesses in the U.S., build out its team, and continue developing its tech. The company believes its technology can significantly increase sales and reduce costs for businesses.