Observe.AI, a noted AI-powered agent enablement for voice customer service, has recently concluded its Series A round of funding, closing at a whopping $26 million. This round was led by Scale Venture Partners with participation from Steadview Capital, 01 Advisors, and their other existing investors.
This round of funding has brought Observe.AI to a total of $34 million in funds raised since the startup was founded in August 2017 to transform the 300 million Voice Customer Service market with the help of artificial intelligence.
The two-year-old startup uses natural language processing to analyse conversations between human agents and customers. It then automatically transcribes each call and carries out sentiment analysis to determine customer satisfaction while drawing correlations between the words and actions of the support agent. Their AI improves with each call and their SpeechNLP picks up terms specific to the businesses, allowing for deeper insights and analysis.
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“Thanks to our incredible team, partners, and customers, we’ve seen rapid growth. In just nine months, we’ve expanded our team from 5 to 45 with offices in both San Francisco and Bangalore. During this time we brought on more than 100 customers, including Tripadvisor, ClearMe, and Root Insurance, who use our Voice AI Platform to monitor quality and compliance across 100% of calls while offering data-driven coaching to agents,” said the company in a statement.
“We also formed multi-year relationships with companies like Talkdesk, ERCBPO, itelBPO, and Microsoft, who’ve played a major role in bringing our message to the market that agents are a brand’s best representatives. Together we believe that when well-coached, agents provide a rare opportunity to emotionally connect with customers in a digital world,” they added.