Enterpret raises $20.8 million in Series A funding led by Canaan Partners

Varun and Arnav Sharma, cofounders of Enterpret

Enterpret, an AI-enabled customer feedback intelligence platform for product development and customer experience teams, has raised $20.8 million in a Series A funding round led by Canaan Partners, the firm said in a media statement on December 4.

The round also saw participation from Kleiner Perkins, Peak XV Partners, Wing Ventures, and Recall Capital. Notable angel investors including Lauryn Motamedi (Head of Product Growth at Notion), Elena Verna (VP of Growth and Data at Dropbox), Nan Yu (Head of Product at Linear), and Andrew Berman (Director of AI at Zapier) also contributed.

The funding will be used to further scale Enterpret’s AI-driven platform, enabling product development and CX teams to extract actionable insights from customer feedback, the firm's statement said.

As part of the investment, Rayfe Gaspar-Asaoka, partner at Canaan Partners, has joined Enterpret's board.

Brothers Varun Sharma and Arnav Sharma co-founded Enterpret in 2020. Varun spent his early career as a Customer Success Manager at LinkedIn, Amplitude and Scale AI while Arnav was a computational linguistics researcher turned Engineering Lead at Uber.

In 2022, Enterpret secured $4.3 million in seed funding from a group of prominent investors, including Kleiner Perkins, Peak XV Partners (formerly Sequoia Capital India), Unusual Ventures, and a range of angel investors.

Since May 2024, Enterpret has said that it has seen healthy growth, doubling its annual recurring revenue (ARR), the firm said.

"Customer Interactions are a precious yet immensely underutilized data set for all enterprises that can now be unlocked meaningfully for the rst time ever in this post-LLM world to build best-in-class products and drive business growth," Varun Sharma said.

The company's customer base includes industry leaders such as Monday.com, Canva, Notion, Loom (Atlassian), The Browser Company, Hootsuite, Nextdoor, Strava, Linear, and Vimeo. Customers have deployed Enterpret to analyze millions of feedback records, close feedback loops, and rapidly improve product performance.

"Our enthusiasm to partner with Enterpret was always driven by Varun and Arnav, brothers who are exceptional at what they do. We were early partners of the company having led their seed round and have doubled down in this round," said Harshjit Sethi, MD, Peak XV.