WorkHack Founder Akshat Tyagi
work hack
Will generative artificial intelligence (AI) change the world? Well, maybe. But even early adopters have yet to find where tools like ChatGPT are most powerfully deployed, especially in the business context. At WorkHack, we believe we can capitalize on that gap. The Bangalore-based startup today announced a $1.5 million seed funding round to expand its generative AI platform.
WorkHack’s platform is aimed at large enterprises that are keen to develop new use cases for generative AI but are uncertain about doing so safely and effectively. “We want to help them use this technology responsibly and thoughtfully,” explains company founder Akshat Chagi.
Tyagi sees two issues looming over large companies looking at how and where to make the most of generative AI. First, he notes that despite the excitement about this technology, use cases beyond copywriting and search have yet to be identified and proven. Companies have many ideas for potential applications, but need help considering whether they are realistic. Second, there are growing concerns about trust and ethics in the context of AI. This is a concern for companies that don’t understand what’s really under the hood of the Large Language Models (LLMs) that generative AI relies on.
“There is a chasm between technology and business applications,” argues Tyagi. “Companies need tools that allow them to deploy safe, thoughtful and responsible AI without having to build their own AI models.” points out that it may become
First and foremost, WorkHack believes that sales and marketing are the sectors where generative AI is likely to have the greatest impact. In the first experiment of this business, launched in 2021, we worked with a recruitment agency to make his ChatGPT available during the interview process. More recently, the focus has been on helping sales and marketing teams improve metrics like conversion rates and lead ratings.
The idea is that companies can use the platform to customize templates and build their own conversational agents to deploy across mobile and web-based channels. The company has secured 10 large enterprise customers so far. “We will be the stable AI layer that companies trust to solve their generative AI journey,” he promises Tyagi. “Our core strength is recognizing which areas of human interaction can greatly benefit from technology that appears to think and reason.”
The company’s first major investment round is aimed at helping it deliver on that promise, with the $1.5 million raised to further develop WorkHack’s technology and invest in hiring talent.
The funding round was co-led by Together Fund and Nexus Venture Partners, with participation from The New Normal Fund and a number of angel investors. “His layer of generative AI applications so far has mainly assisted in activities such as copywriting and graphic editing,” said Jishnu Bhatchajee, managing director of Nexus Venture Partners. I’m here. “WorkHack aims to build predictability and goal alignment so that companies can adopt and find interesting use cases for generative AI.”
No business has a monopoly on this market. In the generative AI frenzy, many companies are vying to establish themselves as trusted allies of companies looking to capitalize on rapidly advancing emerging technologies. Examples include Jasper, Copy, PepperType and Velum, which raised $125 million last year.
Meanwhile, elsewhere, many of the large enterprise software companies also offer services to help their customers take advantage of generative AI. For example, major companies such as Salesforce and ServiceNow have already announced plans to incorporate generative AI into some of the products and services they offer.
Nonetheless, Tyagi hopes WorkHack can carve out a niche, especially in serving larger companies. The company’s business model, which is based on a monthly fee for each activated user, is currently generating $300,000 in revenue at an annual run rate, but growth is accelerating, he said.
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