Uniphore, a voice AI startup, has raised $140 million in a Series D round of funding led by Sorenson Capital Partners to extend its technology and market leadership in artificial intelligence. With this round, the total funds raised by the company will be $210 million.
Along with Sorenson Capital, new investors such as Serena Capital and Sanabil Investments, and Cisco Investments have also participated in the round.
The year 2020 has massively accelerated digital imperatives for every company and focused directly on AI and automation to drive that transformation of what is projected to be more than a $500 billion market opportunity. According to the company, the funds will be used to extend Uniphore’s technological capabilities along with market leadership in artificial intelligence, automation and machine learning across the enterprise, among other things.
Know more about the company here.
Speaking on occasion, Umesh Sachdev, CEO and co-founder of Uniphore said to the media that, the rapid digital transformation across the enterprise had surged the need for automated and intelligent solutions to help drive new business models has never been greater. “We saw this years ago and have been delivering innovation to areas such as contact centres to enable better customer experiences,” said Sachdev.
With its acquisition of RPA and video AI technology company, NTT DATA and Emotion Research Lab, Sachdev believes that it can deliver a conversational service automation platform for the modern enterprise. It aims to combine conversational AI and robotic process automation across voice and video-based engagements.
Sachdev further mentioned that the new addition of capital would fuel the company’s growth, outpace the competition, and transform business through dramatically improved customer experiences.
Uniphore has capitalised on this incredible momentum over the past 12 months and expects to have $100 million in contracted annual recurring revenue (ARR) in fiscal 2022 based on a forecast of continued hypergrowth.