May 19, 2024

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Uniphore Raises $140 Million to Expand AI to Video-Call Analysis

Uniphore Software Systems Pvt, a startup that uses artificial intelligence to analyze and improve customer support provided over the phone, raised $140 million to expand its services to areas such as video calls.

The Series D round was led by Sorenson Capital Partners, with new investors including Cisco Investments and earlier backers such as March Capital Partners and Chiratae Ventures participating, the startup said in a statement. Uniphore, with its main offices in Chennai, India, and Palo Alto, California, has now raised a total $210 million.

The company is targeting a niche in a cloud-based enterprise software industry led by Salesforce.com Inc. and Oracle Corp. The coronavirus pandemic has been a boon for video and voice calls, and Uniphore’s software helps companies improve their service by, for example, detecting and predicting customers’ intent.

“Because of the pandemic, people can’t get to their bank, shopping mall or doctor so customers reaching out online or via call centers quadrupled,” said Umesh Sachdev, co-founder and chief executive officer. “Labor-intensive contact centers couldn’t handle the deluge so AI and automation products like ours stepped in to fill the gap.”

Sales tripled in the fiscal year ending March 2021 and the company is set to reach $100 million in annual subscription revenue, Sachdev said, speaking via video conference from Silicon Valley. The startup plans to double its headcount to about 600 in the fiscal year ending March 2022.