Conveyor Secures $20M Series B for AI-Powered Sales Automation

Conveyor, a company specializing in AI-driven sales automation, has secured $20 million in a Series B funding round. The investment, led by SignalFire, will accelerate the development of its AI agents designed to streamline B2B sales processes, including security reviews and requests for proposals (RFPs).

Key Highlights

• Funding Purpose: The capital will expand Conveyor’s AI research, engineering teams, and go-to-market efforts. The long-term goal is to build a trust layer for interactions between buyers’ and sellers’ AI agents.
• AI Agents in Action:
  • Sue: Automates security reviews with 95-97% accuracy, enabling self-service access to vendor documents via a Trust Center.
  • Phil: Researches RFP requirements and drafts proposal responses autonomously.
• Customer Impact: Conveyor’s solutions are used by 480+ customers, have answered 1M+ questions, and facilitated 800K+ Trust Center interactions.

Industry Context

• B2B Transformation: AI agents are reshaping B2B operations by enhancing speed and efficiency. Conveyor’s CEO, Chas Ballew, emphasized the mission to eliminate trust bottlenecks in enterprise sales.
• Investor Insight: SignalFire’s Tony Pezzullo praised Conveyor for redefining agentic automation and creating a platform for agent-to-agent communication.

Recent Developments

• Previous Funding: This round follows a $12.5M Series A in October 2023.
• Broader Trend: Other firms like Transcard and Routable are also leveraging AI agents for and in B2B payments.