SA’s GotBot to use R2.5m investment to grow SaaS platform, says founder

SA artificial intelligence (AI) solutions startup GotBot plans to use a R2.5-million investment it raised from SA venture capital (VC) firm Capaci.Tech earlier this year to further develop its software and software-as-a-service (SaaS) platform.

Johannesburg-based artificial GotBot was founded in 2016 by Chris Green and Nick Argyros (pictured above, middle with Capaci.Tech’s Jaco de Wet and Capacitech founder Matthew Emanuel).

The startup integrates AI into retail and customer relationship management systems for the financial services, insurance and retail sectors.

Argyros, who is also GotBot’s CEO, told Ventureburn that the investment was concluded when GotBot and Capaci.Tech combined into a “formal partnership” around July.

GotBot was founded in 2016 by Chris Green and Nick Argyros

He said the startup has also hired a bigger development and operations (DevOps) team to improve its platforms capabilities and offering.

GotBot was part of SBC AfriTech‘s first cohort in 2017 (see this story). The accelerator normally invests €15 000 in startups it accepts into its programme in return for eight percent equity.

Argyros said the programme put the startup onto Capaci.Tech and that representatives from the two firms had met at multiple events.

He explained that he, as well as two angel investors, Craig Hawkins and Paul Norwood, initially invested R300 000 in the startup to get the startup up and running in 2016.

GotBot currently has a “large focus”on integrations into customer relationship management (CRM), enterprise resource planning (ERP) and telephony systems, he said.

“There is also a massive push as we are one of the front runners with regards to automation across Whatsapp Business,” said Argyros.

GotBot, he added, had already signed some significant corporate clients, including Toyota, RCS, African Bank, Home Choice, Old Mutual Finance and the Attacq Property Group.

‘Lot of interest from US, India, Asia’

GotBot currently employs a team of eight staff who are split between its Cape Town and Johannesburg office.

The Cape Town team, Argyros explained, is comprised of the startup’s operations, development and DevOps resources, while Johannesburg houses its sales, administration and accounts departments. Both offices handle GotBot’s account management. The startup also has a sales director in the UK.

Argyros said the startup has had “a lot of interest” from the US, India and South-East Asia which he said GotBot is currently pursuing.

And following the investment it clinched from Capaci-Tech, the startup has had other offers for future rounds of funding.

Featured image, left to right: Capaci.Tech’s Jaco de Wet, GotBot co-founder and CEO Nick Argyros and Capacitech founder Matthew Emanuel (Supplied)