One of the leading AI-based call-centre startups, Observe.ai announced that the company has closed a $54 million Series B round of funding led by Menlo Ventures, with participation from Next47 Ventures, and NGP Capital.
According to sources, with the help of this funding, the company will expand its go-to-market programs in both the Indian and US offices and will continue to invest in the research and development to add further capabilities in various areas, such as real-time coaching, omnichannel support, and interaction analytics.
Founded in 2017 by Sharath Keshava Narayana, Swapnil Jain and Akash Singh, Observe.ai is a voice AI platform that transforms customer experiences as well as improves agent performance by helping top brands to analyse calls and streamline quality assurance workflows. The company utilises various techniques like agent assistance, automatic speech recognition, and Natural Language Processing (NLP) to make advancement and improve the call quality.
Swapnil Jain, CEO and co-founder of Observe.AI said, “Today’s contact centre is mired with inefficient workflows and lack of data-driven training for frontline agents who represent the voice of the company,” He added, “By leveraging AI to analyse customer interactions, businesses will turn their contact centres into growth centres. This latest round of funding is a direct result of the trust we’ve built with customers and investors, and the dedication of our team.”
Jain also stated that this latest round brought the company to 80 Million raised in less than a year and it will help continue the momentum and fuel the next phase of growth as the company continues to leverage AI, speech recognition, and Natural Language Processing (NLP) to power the top contact centres of the future.
Steve Sloane, Partner at Menlo Ventures stated, “Menlo Ventures has been closely following the transformation of the customer service landscape. We see a massive market opportunity to solve automation, data capture, and collaboration problems that prevent enterprises from delivering the kinds of support experiences that customers deserve,” He added, “Observe.AI is uniquely using AI to automate tedious customer service workflows and deliver actionable intelligence. We’re thrilled to be leading this investment round and are looking forward to supporting the company’s continued growth and innovation.”