Voice AI startup Uniphone has raised $140 million in Series D round of funding which was led by US-based growth focussed investment fund Sorenson Capital Partners. New investors from Europe and the Middle East such as Serena Capital and Sanabil Investments besides strategic investor, Cisco Investments also participated in the round.
The company will use the fund to extend Uniphore’s technology and market leadership in artificial intelligence, automation and machine learning across the enterprise, among other things.
“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. We saw this years ago and have been delivering innovation to areas such as contact centers, to enable better customer experiences,” said Umesh Sachdev, CEO and co-founder of Uniphore.
Sachdev said with the recent acquisitions of RPA and video AI technology, the company 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
“This injection of capital and new addition to our board leadership will fuel our growth, position us to outpace the competition and help transform business through dramatically improved customer experiences,” he said.
The current round takes Uniphore's total funds raised to date to $210 million.
Rob Rueckert, Managing Partner at Sorenson Capital Partners will join Uniphore's Board of Directors.
Uniphore’s solutions help organisations manage and analyse contact center engagements.
The year 2020 accelerated digital imperatives for every company and put the focus 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, organisations increased their reliance on contact centre agents to service customer needs remotely in the wake of the global pandemic and regional stay-at-home orders.
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.