AI-powered speech analytics and quality management platform Observe.ai on April 12 announced that it has raised $125 million in a Series C funding round led by SoftBank Vision Fund 2.
With the newly raised fund, the company plans to expand its Intelligent Workforce Platform, invest in research and development functions, and scale the go-to-market team, including the direct and channel-based motions. The round also witnessed participation from Zoom and Observe.ai’s existing investors.
Founded in May 2017 by Akash Singh, Sharath Keshava and Swapnil Jain, Observe.AI's voice AI platform provides call center agents with real-time feedback on customer sentiment and guides them on the next best action during the customer call. The Santa Clara-headquartered company also has an office in Bengaluru.
Jain shared the information on Twitter and also said that Priya Saiprasad, a Partner at SoftBank Investment Advisers, would be joining the board of directors of the company.
The platform's artificial intelligence (AI) platform listens to the call stream in real-time, uses deep learning and natural language processing (NLP) to understand the context, and generates suggestions and guidance for the agent.
“Extremely grateful to the 250+ Observians who have worked very hard to make this mission a reality, 200+ Enterprises who trusted us in their AI transformation journey, and existing investors who continue to support Observe.AI with extreme enthusiasm,” said Jain over Twitter.
In 2018, the company raised $8 million in Series A financing and $80 million in the 12 months before that. In September 2020, the company raised $54 million in a Series B Funding round led by Menlo Ventures, with participation from Next47 Ventures and NGP Capital.
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