Nicolás Camhi, Matías Pérez Pefaur, and Diego Chahuán, the founders of Vambe, launched their company last year with a CRM (Customer Relationship Management) product for debt collection. However, as they gained traction in the market, they discovered that their customers were more interested in the WhatsApp AI agents they had built to facilitate communication than the debt collection service itself.
A Pivot to Focus on AI Agents
"Our customers were already asking us, ‘Hey, could you ask the AI so that when you go out after a debt, could you offer this person, I don’t know, ‘x’ product or ‘’x” service?’ " Camhi told TechCrunch in an interview. "We were able to do it, and it was a very great experience. We realized that what we were building was not a collection system but a communication and engagement tool."
In March 2024, Vambe pivoted its focus to these AI agents, designed to help small and medium-sized businesses automate communications with customers and close sales on platforms like WhatsApp.
Growing Revenue and Expansion Plans
Vambe’s customers range from small mom-and-pop businesses, like carpet cleaners with five employees, to retail companies that have thousands of workers. Camhi said the company had annual recurring revenue (ARR) of about $20,000 right before it pivoted, but since March, that number has surged: Vambe closed November with ARR of $1 million.
To capitalize on this fast growth, Vambe 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. Camhi said that 15% of Vambe’s revenue is currently generated in Mexico, and his team sought out Nazca because the company wants to expand further in that country.
A New Investment Thesis for M13
This round was M13’s first investment in a Latin American startup. M13 partner Brent Murri told TechCrunch that the firm started building its thesis on the region two years ago but hadn’t found the right company, team or terms to invest until they met Vambe’s team at the Berkeley SkyDeck accelerator earlier this year.
Murri noted M13 was bullish on Vambe’s tech, illustrating his point with an example: The VC firm’s team had built a fake business and used Vambe to set up an AI agent, and came away impressed with how quickly they were able to do so. "We were blown away by the ease of use and the flexibility of the platform," Murri said.
A Growing Market for AI in Customer Engagement
The investment from M13 and other investors is a testament to the growing interest in using AI to improve customer engagement and sales outcomes. As more businesses look for ways to automate their communication with customers, Vambe’s AI agents are well-positioned to capitalize on this trend.
What Sets Vambe Apart
So what sets Vambe apart from other companies providing similar services? According to Camhi, it’s the company’s focus on building a platform that is easy to use and flexible enough to meet the needs of businesses with varying levels of complexity.
"We’re not just building a product; we’re building a platform that can be customized to fit the specific needs of each business," Camhi said. "We believe that this approach will allow us to reach more customers and provide them with a better experience than our competitors."
A Bright Future for Vambe
With its growing revenue, expanding customer base, and new investment from M13, Vambe is poised for continued growth and success in the market. As the company continues to innovate and improve its platform, it’s likely that we’ll see even more exciting developments from this young startup.
About Vambe
Vambe is a software company that provides AI-powered customer engagement solutions for small and medium-sized businesses. The company was founded in 2023 by Nicolás Camhi, Matías Pérez Pefaur, and Diego Chahuán, and has since raised $3.85 million in seed funding from investors including Monashees, Nazca, and M13.
About the Authors
Rebecca Szkutak is a senior writer at TechCrunch who covers venture capital trends and startups. She previously covered the same beat for Forbes and the Venture Capital Journal.
Brent Murri is a partner at M13, a venture capital firm that invests in early-stage companies in the United States and Latin America.
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