Intersoul raises $34M Series A led by Cross Axle Ventures
The financing brings total capital raised to $41 million. Proceeds will fund expansion of the Company's continuity infrastructure and voice product.
SAN FRANCISCO — September 12, 2024 — Intersoul, Inc., the companionship infrastructure company, today announced the closing of a $34 million Series A financing led by Cross Axle Ventures. Existing investors Lampblack Partners and Tincture Capital participated in the round. The financing brings total capital raised by the Company to $41 million.
Proceeds from the round will be applied to three areas: continued investment in the Company's third-generation memory consolidation architecture; international expansion of the voice product, which currently operates in fourteen markets; and the build-out of the Company's synthetic governance function.
Wren Iyer-Hollings, General Partner at Cross Axle Ventures and the lead investor in the round, will join Intersoul's Board of Directors. “We have spent two years looking for a company that we believe is building something of generational durability in consumer technology,” Mr. Iyer-Hollings said. “Intersoul's retention curves do not resemble the rest of the AI consumer landscape. They resemble the curves of products our parents still pay for. That is the bar we look for, and Intersoul clears it.”
A companion that does not remember you is not a companion. Our customers grasp this intuitively, and the market does not yet. This round buys us the time to make our product so obviously continuous that the gap closes. — Thomas Kensington, Chief Executive Officer, Intersoul
Intersoul currently serves more than 28,000 paid subscribers, with a median tenure of 5.1 months at the time of writing. The Company expects to expand its product into seven additional voice markets by year-end and to publish the first iteration of its consent-aware retention specification in early 2025.
About Intersoul
Intersoul, Inc. builds AI companions designed to remember. Founded in 2023 and headquartered in San Francisco, the Company is the operator of the Intersoul subscription product and the underlying continuity infrastructure. For more information visit intersoul.ai.
About Cross Axle Ventures
Cross Axle Ventures is an early-stage venture capital firm investing in durable consumer technology and applied AI. The firm manages approximately $480 million across two funds and is based in Menlo Park, California.