Get Instant Loan up to ₹10 Lakh!
Uniphore raises $140 million in Series D funding
New investors including Serena Capital and Sanabil Investments, and strategic investor, Cisco Investments has also participated as a part of this round
Software-as-a-service platform, Uniphore, on Wednesday said that it has raised $140 million as a part of its Series D funding, led by US-based investment firm, Sorenson Capital Partners.
New investors including Serena Capital and Sanabil Investments, and strategic investor, Cisco Investments has also participated as a part of this round, along with existing investors, March Capital Partners, National Grid Partners, Chiratae Ventures, Iron Pillar Fund, and Sistema Capital.
With this the total funds raised by the startup stands at around $210 million.
According to the company, the funding will be used to extend Uniphore’s focus on video-based artificial intelligence (AI) applications, as it looks to further fuel its growth. It will also look to bolster its product suite in domains of trust, security and robotic process automation (RPA).
Earlier in January, this year, Uniphore acquired video and emotion-based AI company, Emotion Research Lab, which works in the area of facial emotion recognition.
Uniphore is a conversational service automation platform, which allows customer service agents of businesses to automate agent tasks, and provide features such as speech analytics, virtual assistant and voice biometrics.
“Given the rapid digital transformation happening across the enterprise, the need for automated and intelligent solutions to help drive new business models has never been greater. With our recent acquisitions of RPA and video AI technology, we now can deliver a conversational service automation platform for the modern enterprise, combining conversational AI and Robotic Process Automation (RPA) across voice and video-based engagements,” said Umesh Sachdev, chief executive officer and co-founder of Uniphore.
As businesses move towards digital due to the pandemic, Uniphore claims to have capitalised on the momentum and expects to touch $100 million in contracted annual recurring revenue (ARR) in fiscal 2022. Over the past year, Uniphore has won customer contracts with Tech Mahindra, NTT DATA, Sitel, Firstsource, and WNS Global Services.
The Chennai and Palo Alto-based startup has also expanded its headcount with the addition of more than 100 new employees globally, last year, the company said.
“We were very impressed by the Uniphore team and what they have been able to do for customers and the broader market. We are excited to back Uniphore and believe 2021 will be a breakout year of innovations and tremendous progress in transforming customer experience for enterprises," said Rob Rueckert, Managing Partner at Sorenson Capital.
Rueckert will now be joining Uniphore’s board of directors, post the fundraise.
Catch all the Business News , Breaking News Events and Latest News Updates on Live Mint. Download The Mint News App to get Daily Market Updates.
MoreLess
First Published:31 Mar 2021, 07:39 PM IST
- Top Gainers
- Top Losers
- 52 Week High