Uniphore, an AI technology company raised $51M 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, plus other investors.
The new round of funding is Uniphore’s largest to date and marks one of the most substantial funding rounds in the conversational AI sector.
Uniphore will use the funds 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.
“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 Umesh Sachdev, CEO, and Cofounder, Uniphore.
Sumant Mandal, Managing Director of March Capital Partners, added, “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.”
John Chambers, CEO and founder of JC2 Ventures, and an active advisor to Uniphore, who picked up a 10% stake in Uniphore in 2017, welcomed the funding.
Most recently, Uniphore CEO Umesh Sachdev moved to Silicon Valley to expand the company’s reach in North America. The move has paved the way for several strategic new hires. Annie Weckesser, a veteran of Cisco and NIO, joined as Chief Marketing and People Officer in April.
In 2018, the company experienced 300% year-over-year growth and the year prior, Uniphore had an exciting Series B round with participation by various existing and new investors including IDG Ventures, IIFL, and JC2 Ventures.
Some of Uniphore’s customers include BNP Paribas, NTT Data, and PNB MetLife.