Conversion, an AI-powered marketing automation startup founded by UC Berkeley dropouts, has secured a $28 million Series A led by Abstract. Co-founders Neil Tewari and James Jiao stumbled upon the idea for Conversion while building automation features for HubSpot. The company is nearing $10 million ARR, with 90% of customers being midsize businesses. Despite competition from legacy tools and other AI startups, Tewari is confident in targeting businesses using older marketing tools. Conversion has raised a total of $30 million and is thriving in a crowded market.

Read more at “Conversion founders Neil Tewari and James Jiao stepping down from their roles as CEO and COO, respectively.” – Finance.yahoo.com: How 2 UC Berkeley dropouts raised $28M for their AI marketing automation startup