AI SDR初创公司11x融资7400万美元，却被曝光虚假客户

做的是什么生意

Sells AI sales development agents to B2B companies: Alice handles lead sourcing and email outreach, Jordan handles multilingual phone communication, and it is billed by subscription.

启动资金：Seed round $2M (led by Project A); Series A $24M (led by Benchmark, valuation $90M); Series B about $50M (led by a16z, valuation about $350M)

起因

Founder Hasan Sukkar founded 11x in London in 2022, triggered by the large amount of monotonous repetitive clerical work in his first job during student days; in 2023 he raised a $2M seed round led by Project A, built Alice (AI sales development agent), and began selling. The 'automated digital employee' narrative hit venture capital pain points during the AI boom.

经过

In 2024, the company moved to San Francisco and completed a $24M Series A led by Benchmark (valuation $90M, announced in September); in the same month, reports emerged of a Series B of about $50M led by a16z at a valuation of about $350M—about 35 times ARR; at the time it claimed annualized revenue close to $10M and 27 employees, with a customer list that included Brex, DataStax, and Otter. It then launched phone agent Jordan, claiming it could speak more than 30 languages and conduct real conversations lasting up to 30 minutes.

结果

In March 2025, a TechCrunch investigation exposed: at least two named customers (ZoomInfo and Airtable) denied the partnership and threatened to sue; most early customers exited using three-month cancellation clauses; the company counted full-year contract value as ARR (CARR) to inflate revenue metrics; employees said churn once reached 70–80%; the company countered that retention had recovered to 79%. As of September 2026, it is still operating, with the product line updated to Alice and Julian.

可借鉴之处

估值取决于可验证的客户和收入；将可取消试用计为ARR，以及未经同意列出客户，会侵蚀信任。