Uniphore Becomes Unicorn After Raising USD 400 million In Its Series-E Round


Uniphore, a startup which is into conversational automation, has raised $400 million in its Series E funding round led by American venture capital firm New Enterprise Associates (NEA). March Capital, Sanabil Investments and Sorenson Capital Partners, and some existing investors also participated in the round. With this round, the Chennai-headquartered Uniphore’s total funding has touched $610 million at a valuation of $2.5 billion.

The company plans to use the fresh funds to improve voice, artificial intelligence (AI), computer vision and tonal emotion, and to expand its business operations globally, specifically in North America, Europe and the Asia Pacific, the startup said.

Founded by Ravi Saraogi and Umesh Sachdev in 2008, Uniphore develops solutions in speech analytics and virtual assistant verticals and has offices in Chennai, Bengaluru, Singapore, and Palo Alto. The company claims to handle billions of conversations across industries — customer service, sales, HR, education among others.

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Uniphore says its technology combines conversational AI, workflow automation and RPA (Robotic Process Automation) in a software offering that businesses can deploy in their customer service operations. Its tools enable businesses to fully automate some interactions, while others may loop in human representatives for certain tasks.

The market for automating enterprise conversations has rapidly accelerated in the past few years as companies recognize the impact of positive customer interactions on their brand image and customer loyalty. As a result, many businesses have turned to artificial intelligence and automation to create smooth and frictionless customer experiences.

“Our conversational automation engine has been delivering powerful and innovative solutions to help enterprises not just survive but thrive amidst all the demands placed on them by customers. At Uniphore, with a rapidly growing customer base and unparalleled talent joining our leadership team and board of directors,” said Umesh Sachdev, CEO and co-founder, Uniphore, in a statement.

Also, Read This: Mentza Raises USD 400K In a Seed Funding Round Led By Inflection Point Ventures



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