Uniphore Raises $140M as Demand For Enterprise AI Increases

SaaS News -Uniphore-raises-$140-million(source: SaaS Industry)
At a Glance

Uniphore has recently raised $140 M in Series D funding led by Sorenson Capital Partners, bringing the total funding of the company to a whopping $210 million. This is the largest funding for the conversational voice-based company. The participants of the Series D funding include the likes of Cisco Investments, Serena Capital, and Sanabil Investments. Some previous investors like March Capital Partners, Chiratae Ventures, Iron Pillar Fund, and Sistema Capital have also expanded their investments.

Using this funding, the firm aims to expand its technology in AI, Machine Learning, and Automation and gain further market leadership in this sector. Uniphore is also trying to focus on video-based AI applications from the acquisitions of Emotion Research Labs, Trust, Security, and RPA markets. These resources can help Uniphore in delivering a conversational service automation platform that will ease the processes of the modern enterprise. “We saw this years ago and have been delivering innovation to areas such as contact centers to enable better customer experiences”, said Umesh Sachdev, Co-Founder, and CEO of Uniphore, when asked about the increasing need for automated solutions that can work with all types of business models.

The company has two headquarters, one in Palo Alto, California, and the other in Chennai. On receiving the funding, Umesh Sachdev said, “This injection of capital and new addition to our board leadership will fuel our growth, position us to outpace the competition, and help transform business through dramatically improved customer experiences.” By combining voice and video-based engagements through automation and AI, Uniphore can utilize the scope of growth in the market of AI today.

Experts have agreed on the fact that AI and automation are one of the greatest fields of growth as 2020 has also been a key factor in making many businesses go digital. This market is now estimated at a value of about $500 billion. With the universe accepting remote working due to the pandemic, many companies have tried to find solutions to contact center agents to help customers in need.

Uniphore helps organizations in managing these contact center engagements and analyze them to further help provide a better consumer experience and helping their business do better. During the year 2020, Uniphore gained many customers since the world’s reliance on automation and artificial intelligence increased, and this technology became crucial to sustaining businesses while working from home.

With the growth in the past financial year, Uniphore is now estimated to have about $100 million in contracted annual recurring revenue or ARR in fiscal 2022. This funding has enabled the firm to grab many strategic partners and provide them with proper financial funding to get even more customers with its machine learning and automation-based software.

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