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Based in Toronto, Canada, Evolo develops an enterprise artificial intelligence software suite that generates interactive short-form videos to market complex products like mortgages and life insurance. The platform utilizes human avatars and real voices to create choose-your-own-adventure experiences that educate consumers, handle objections, and qualify leads for sales teams in regulated sectors such as financial services and telecommunications. The company currently operates with a team of seven full-time and seven part-time employees, recently securing $3 million USD in a SAFE funding round. This early-stage financing was led by Portage, with additional venture capital participation from Golden Ventures, to support ongoing software product development and North American market expansion. Evolo was founded in 2024 by Vahid Mirjalili, previously an executive of Owl.co, and Afsaneh Fazly, a former artificial intelligence research director at Samsung Research America.
Evolo has raised $3.0M across 1 funding round.
Evolo has raised $3.0M in total across 1 funding round.
Evolo has raised $3.0M in total across 1 funding round.
Evolo's investors include Amino Capital, Gradient Ventures, Portage Ventures, Threshold Ventures, Workday Ventures, Sue Xu.
Evolo is a Toronto-based startup developing an AI-powered software suite that generates interactive, choose-your-own-adventure style short-form videos for marketing in highly regulated sectors like banking, insurance, and telecommunications.[2] It serves marketing teams at large enterprises by automating compliant video content creation—often using consented likenesses of real salespeople—to guide customers through complex products like mortgages or life insurance, boosting engagement by 30-50% and conversion rates in pilots.[2][4] The platform educates, qualifies leads, handles objections via TikTok-style videos, and ensures only serious buyers reach sales reps, with features like journey builders, AI content creation, tool integrations, and approval workflows for compliance.[2][4] With a lean team of 14 (7 full-time, 7 part-time), Evolo recently raised funding from investors like Portage to fuel product development, hiring, and North American expansion toward a "billion-dollar company" goal.[2]
Evolo was founded by Vahid Mirjalili, a serial entrepreneur with deep experience in AI for regulated industries, who co-founded Owl.co—an AI platform for banking and insurance data management that raised over $40 million—before departing in January 2024.[2] The idea for Evolo emerged from Mirjalili's recognition that sectors like finance and telecom frustrate customers with rigid processes; he aimed to make them more customer-centric using AI video flexibility, building on lessons from Owl.co to prioritize enterprise readiness, compliance, security, and fast ROI.[2] Early traction includes securing large unnamed Canadian customers in regulated industries, with pilots demonstrating 30-50% higher engagement and conversions, positioning Evolo for international growth.[2]
Evolo rides the AI personalization wave in marketing, specifically targeting regulated industries where generic tools falter due to compliance hurdles, aligning with rising demand for customer-centric experiences in complex sales like mortgages amid economic pressures for efficiency.[2] Timing is ideal post-2024 AI hype, as enterprises seek compliant alternatives to broad tools; market forces like regulatory scrutiny (e.g., data privacy in finance) and video content dominance (TikTok-style formats) favor Evolo, enabling 30-50% engagement gains in pilots.[2][4] It influences the ecosystem by proving AI video can humanize frustrating sectors, paving the way for broader adoption in B2B sales and inspiring compliance-focused AI startups, while differentiating from security-focused peers like Evolv Technology.[1][2][3]
Evolo is poised for rapid scaling with fresh funding, targeting North American dominance before international push—expect accelerated hiring, product enhancements like deeper integrations, and more pilot-to-customer conversions in banking/insurance.[2] Trends like AI regulation tightening and video-led lead gen exploding will amplify its edge, potentially evolving it into a category leader for compliant sales enablement. As regulated sectors digitize customer journeys, Evolo's efficient path to a billion-dollar scale underscores its potential to redefine enterprise marketing, transforming frustration into frictionless engagement.
Evolo has raised $3.0M across 1 funding round. Most recently, it raised $3.0M Seed in November 2024.
| Date | Round | Lead Investors | Other Investors | Status |
|---|---|---|---|---|
| Nov 1, 2024 | $3M Seed | — | Amino Capital, Gradient Ventures, Portage Ventures, Threshold Ventures, Workday Ventures, SUE XU | Announced |
