Los Angeles-based involve.ai, a startup developing artificial intelligence-based customer retention software, said today that it has raised $16M in its Series A funding round. The funding was led by Sapphire Ventures, and also included Bonfire Ventures, Greycroft, Launch Capital, BDMI plus new investors GTMfund, Fenwick, Gokul Rajaram, Stanford University and Michael Whitmire. The company said the new funding will go to scale product development. The company said its platform uses artificial intelligence to help businesses prevent customer churn and accelerate its revenue growth. The company was founded by and is led by Gaurav Bhattacharya.