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To keep up with the competition, many companies are rushing to embrace AI, but they often struggle to find the best way to incorporate it into their operations. Iliya Valchanov, the co-founder and CEO of Team-GPT, believes he has a solution to alleviate their concerns.
In 2023, Valchanov, along with Ilko Kacharov, Yavor Belakov, Katya Vaptsarova, and Maria Valchanova, introduced Team-GPT as a software suite of AI tools like Claude and ChatGPT that companies can seamlessly integrate into their existing systems. Valchanov emphasized that offering a suite simplifies the management of these tools for companies, eliminating the need for separate subscriptions for each feature. Additionally, he highlighted the privacy aspect of using their own models, enabling companies to deploy AWS servers without sharing data with entities like OpenAI or Anthropic.
Team-GPT not only provides online courses on utilizing specific AI tools but also offers enterprise features such as platform administration and group mapping. With clients like Salesforce and Johns Hopkins already on board, along with 45,000 others, the company recently secured a $4.5 million seed round led by True Ventures, Pact, and angel investors, including former OpenAI employees.
Despite being based in Bulgaria, Valchanov faced challenges in fundraising, as an outsider to Silicon Valley. After traveling to London to meet with European VCs and spending two months in San Francisco to forge connections with investors, the company successfully raised funds after engaging with 85 VCs. Valchanov identified competitors such as OpenAI, Claude, Dust, and Langdock but emphasized Team-GPT’s focus on serving medium to large companies interested in customization and adopting technology using their own data.
With the newly acquired capital, Team-GPT plans to expand its team and enhance product delivery. This update corrects the spelling of Iliya Valchanov and Ilko Kacharov’s names.
