Botco.ai, a Scottsdale-based artificial intelligence chatbot platform designed to support enterprise healthcare organizations, closed a $3.6 million seed round led by VamosVentures, a venture capital firm based in Los Angeles.
This win is another in a string of achievements this year for botco.ai.
Botco.ai will use the funds to speed up the company’s product development and increase its client base, which already consists of dozens of health and wellness organizations, including American Family Care, La Ventana and STChealth, which is also based in Arizona.
The company helps these and other clients respond to inbound marketing inquiries in a timely and efficient manner, without burdening the companies’ staff and sales teams, in order to help them scale more effectively.
Botco.ai is HIPAA-compliant and is designed to keep patient conversations and requests confidential. The platform also provides clients with analytics based on insights from conversation transcripts.
Botco.ai co-founder and CEO Rebecca Clyde was initially attracted to VamosVentures because of its mission. VamosVentures is a Latinx-owned VC firm specifically focused on investing in tech companies led by diverse founders.
“It was one of the very few funds I had seen, out in the wild, that focused on Latinx founders,” she told AZ Inno.
Clyde was born and raised in Costa Rica and then moved to the U.S. to attend college. Her experiences drive her to focus on diversity in her business and working with those who value diversity, too.
VamosVentures boasts its commitment to create a “pipeline of diverse VC investors.” According to the company’s website, the VamosVentures team comes from a variety of different backgrounds and experiences.
The firm makes it a point to invest in companies that are led by a diverse team, address a meaningful problem, have an interesting product with traction, are guided by a thoughtful growth and business strategy.
VamosVentures became interested in botco.ai after Clyde sent a note out of the blue using one of those website forms that rarely amount to anything. Evidently, botco.ai fit the VamosVentures requirements, and the firm got on board.
“We are impressed with the advanced state of the Botco.ai product and its many integrations with CRM, EHR and other third-party systems to make this happen, and we are proud to support the company in its important mission,” said Marcos C. Gonzalez, founder and managing partner of VamosVentures.
COVID-19 has highlighted and accelerated the need for automated systems to address the growing number of healthcare-related inquiries.
“The health and wellness industry is in dire need of better and more efficient ways of communication between providers and users,” Gonzalez said. “Botco.ai is tackling this problem head on by making it easier than ever for consumers to get fast, reliable and confidential responses to many of their questions. ”