Uniphore: $51 Million Raised To Grow Its Conversational AI Technology

By Dan Anderson ● August 14, 2019
  • Uniphore — a global conversational AI technology company — announced raised $51 million in Series C funding led by March Capital Partners

Uniphore — a global conversational AI technology company — announced it has raised $51 million in Series C funding led by March Capital Partners with participation from Chiratae Ventures (formerly IDG Ventures), Sistema Asia, CXO Fund, ITP, Iron Pillar, Patni Family, and several other investors.

This round of funding is Uniphore’s largest to date and it marks one of the most substantial funding rounds in the conversational AI sector. With this funding round, Uniphore is going to accelerate its go-to-market in North America, invest in research and development for the next wave of innovation on its platform and grow its talented employee base globally.

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As a company, Uniphore believes the future of customer service is every voice being truly heard. The company’s vision is to redefine the customer service experience of the future through AI-enabled Conversational Service Automation. And Uniphore enables businesses globally to deliver transformational customer service by providing a platform of Conversational Analytics, Conversational Assistant, and Conversation Security that changes the way enterprises engage their consumers, build loyalty, and realize efficiencies.

“Today’s announcement of our Series C funding represents a major milestone for Uniphore and the Conversational AI market as a whole. This funding will accelerate our vision to redefine customer service through AI-enabled Conversational Service Automation (CSA). We have always been strong innovators, and our global customers continue to rely on our solutions to help them deliver exceptional customer service. With this new round of funding, we will be able to accelerate our global expansion and better serve our customers by developing and delivering innovative CSA solutions to more organizations around the world,” said Uniphore CEO and co-founder Umesh Sachdev.

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Sachdev moved to Silicon Valley recently to expand the company’s reach in North America. And this also paved the way for several strategic investors including Annie Shea Weckesser (veteran of Cisco and NIO) as Chief Marketing and People Officer, Jafar H Syed (formerly at NTT Data) as Chief Strategy & Growth Officer, Karen Smith (former executive at Directly and Convergys) as Chief Revenue Officer, Mary Ann Bianco (former customer success leader at Oracle’s Cloud) as Chief Customer Officer, Ashwin Chalapathy as Managing Director in India and Senior Vice President, Services, Asia Pacific.

“Uniphore recognized early on that the customer service industry had fundamental limitations which were not being addressed. Brands were not building meaningful relationships with their customers because they were simply reacting, rather than being proactive. Uniphore’s conversational AI technology is changing the way brands are serving and engaging with their customers. Uniphore’s unique technology enables a proactive approach by recognizing the true intent of customer calls and predicting what is coming next. Uniphore is not only anticipating what the future of customer service will be – they are leading the charge, and we look forward to working closely with them as they continue to innovate. We are excited to be part of the journey of a world-class team building globally competitive products at Uniphore,” added March Capital Partners managing director Sumant Mandal.

Last year, Uniphore experienced 300% year-over-year growth. Some of Uniphore’s customers include BNP Paribas, NTT Data, and PNB MetLife. 

JC2 Ventures CEO and founder John Chambers (former Chairman of the Board and CEO at Cisco) is an active advisor to Uniphore and picked up a 10% stake in the company a couple of years ago.

“Uniphore’s continued success is a testament to the company’s ability to foresee the next market transition and evolve the business model based on that insight promptly. Uniphore’s innovative conversational AI solutions address the growing needs of businesses to provide personalized customer experiences more efficiently and effectively. I believe Umesh and his team are well-positioned to revolutionize the customer service industry while continuing to expand the market share. I echo March Capital’s sentiment that the future is extremely bright for Uniphore,” explained Chambers.

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