a16z- and Benchmark-backed 11x has been claiming customers it doesn’t have

Last year, AI-powered sales automation startup 11x appeared to be on an explosive growth trajectory. However, nearly two dozen sources — including investors and current and former employees — told TechCrunch that the company has experienced financial struggles, largely of its own making. Numerous people in the U.S. and U.K. told TechCrunch that the situation has become so tenuous that 11x’s lead Series B investor, Andreessen Horowitz, may even be considering legal action. However, a spokesperson for Andreessen Horowitz emphatically denied such rumblings, telling TechCrunch that a16z is not suing. 11x offers an AI bot for outbound cold sales duties, including identifying prospects, crafting custom messages, and scheduling sales calls. It’s one of a number of AI startups in the hot area known as AI sales development representatives, or AI SDRs. Founded in 2022 by Hasan Sukkar, 11x said it approached $10 million in annualized recurring revenue (ARR) just two years after launch. It mov ... Read full article.