Willing to reach $ 100 million in annual recurring contract revenue
Uniphore, one of the early leaders in Conversational Services Automation (CSA), has announced the raising of $ 140 million in its Series D funding round, for a total of $ 210 million invested in the company. This latest round of funding was spearheaded by Sorenson Capital Partners. It includes new investors from Europe and the Middle East, Serena Capital and Sanabil Investments, and the strategic investor Cisco Investments. March Capital Partners, National Grid Partners, Chiratae Ventures, Iron Pillar Fund and Sistema Capital also participated in the series D offering, expanding their initial investment in Uniphore.
This new round of funding is Uniphore’s largest to date and will go towards expanding UniphorII’s technology and market leadership in AI, automation, and machine learning across the enterprise. Emphasis will also be placed on video-based AI applications, stemming from Uniphore’s acquisition of Emotion Research Lab earlier this year, as well as applications in areas related to trust, security, and robotic process automation ( RPA).
The incorporation of Rob Rueckert, managing partner of Sorenson Capital Partners, to the board of directors of Uniphore was also announced. Mr. Rueckert is a tech savvy executive who brings a strong background in both product innovation and growth.
Taking advantage of the growth of the digital transformation market, last year Uniphore unveiled several strategic partners and clients. These additions fundamentally allow Uniphore solutions to enhance and improve hundreds of millions of customer services thanks to its innovative artificial intelligence (AI) and automation software. Uniphore solutions help organizations manage and analyze call center activities, providing a better customer experience and ultimately achieving better business results.
“Given the rapid digital transformation that the company is undergoing, there has never been such a demand for automated and intelligent solutions that help drive new business models. We saw this need for a few years and have been offering innovation in areas such as call centers for a better customer experience. With our recent acquisition of RPA and videoAI technology, we can provide a conversational services automation platform for the enterprise that combines conversational AI and robotic process automation (RPA) for voice and video-based services, ”said Umesh Sachdev, CEO and Co-Founder of Uniphore. “This injection of capital and the new addition to our board of directors will fuel our growth and provide us with a competitive advantage and contribute to business transformation by significantly improving the customer experience.”
In 2020, the digital demands of companies increased and all the attention was directed to AI and automation as solutions to promote this transformation; experts estimate that it will represent a market opportunity of more than 500 billion USD. Proof of this trend is market data showing that as a result of the pandemic and regional stay-at-home regulations, companies are increasingly turning to their call center agents to remotely serve customer needs. customers.
Over the past 12 months Uniphore has seized this incredible opportunity and, based on a forecast of continued accelerated growth, expects to reach USD 100 million in annual recurring revenue (ARR) on contracts in fiscal 2022.
Last year Uniphore closed important agreements, some of them with the main telecommunications providers, insurance companies and financial services organizations worldwide. Additionally, it has been awarded customer contracts with Customer Experience Providers (CX) such as Tech Mahindra, NTT DATA, Sitel, Firstsource, and WNS. These and other agreements serve more than 75,000 customer service agents handling an average of 160 million calls per month. Uniphore also expanded its workforce last year with the addition of more than 100 new employees around the world, including CFO Stéphane Berthier, a former PwC partner. Uniphore is working to hire more than 300 employees in the next fiscal year.
Stephane Berthier, CFO of Uniphore, added: “Call centers focus on AI and automation to deliver excellent customer service and exceptional efficiency. With more than 1.15 million agents employed globally and an increased focus on agent support and digital customer service, there has never been a market opportunity as significant as this. Today’s announcement on additional financing confirms the considerable interest in this area and will support the strong growth we anticipate for next year and beyond. ‘
“As a leading investor in technology for business transformation, we are truly impressed with the Uniphore team and what they have been able to do for their clients and a broader market,” said Rob Rueckert, Managing Partner at Sorenson Capital. “We are delighted to support Uniphore and believe that 2021 will be a watershed year for innovations and tremendous progress in transforming the customer experience in businesses.”
About Sorenson Capital:
Sorenson Capital is a leading growth and venture capital investment company focused on enterprise software. Sorenson, with offices in Palo Alto (California) and Salt Lake City (Utah), has a history of almost two decades supporting transformation technologies and world-class entrepreneurs, including Fastly, Health Catalyst, Pluralsight, Omniture, Workfront, Couchbase , Amplitude, Socure, Harness, MX, Cradlepoint and now Uniphore. Sorenson Capital was founded in 2002 and manages capital of more than $ 1 billion. For more information on Sorenson Growth and Sorenson Ventures, visit www.sorensoncapital.com.
Uniphore is a world leader in the automation of conversational services. The company’s vision is to transform an outdated customer service model by bridging the gap between humans and machines using voice, artificial intelligence, and automation to ensure that every voice, on every call, is truly heard. Uniphore enables companies across the globe to deliver transformative customer service through an automation platform where, during calls, digital agents join human agent transactional conversations and accurately predict language, emotion and language. the intention. All in real time. By automating conversational services, companies can engage customers to effectively build loyalty, improve the customer experience, and realize operational benefits.
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Rob Barlow, Uniphore
India / Asia-Pacific:
Nawaz Mohammed, Uniphore,