Evansville tech firm lands $1.5M in seed funding
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Evansville-based tech startup Laxis has completed a $1.5 million seed round of funding. The company, which has developed an artificial intelligence platform to support revenue teams, says it will use the funding to further product development and grow its user base.
The seed funding includes the recently awarded $100,000 from the Elevate Nexus Pitch Competition and $125,000 from the Flywheel Fund in Bloomington. Other investors include Allos Ventures, Ground Game Ventures, VisionTech Partners, and Lofty Ventures.
“Laxis is harnessing the power of AI to drive more productive engagement and follow up for revenue teams at more than 3,000 organizations,” Allos Ventures Managing Director David Kerr said in a news release. “We’re excited to be a partner with the Laxis team in the early innings as they accelerate innovation in this space.”
The Laxis platform provides a variety of functions for revenue teams, including automated customer research, real-time meeting notes and insights creation, and auto-generation of customer requirements and action items.
“With 15 years of experience in the software industry, we are truly passionate about bringing AI to revenue teams,” Laxis CEO Eric Xiao said. “This investment will enable us to introduce even more exciting AI features and functionality to revolutionize the revenue tech industry.”
Xiao tells Inside INdiana Business the company currently has four employees and will use also use the funding to add a small number of engineers and a marketing manager in the near future.