iStockPUNE: Observe.ai, an artificial intelligence powered voice customer service firm said it had raised $26 million in Series A financing, led by Scale Venture Partners, with participation from Nexus Venture Partners, Steadview Capital, 01 Advisors, and Emergent Ventures.
The funding will be used to expand its teams in the United States and India, and accelerate product development. Further, Andy Vitus, partner at Scale, will be joining Observe.AI’s board. This brings the company’s total funding to $34 million, having earlier raised $8 million from Nexus Venture Partners.
“Legacy speech analytics systems are simply not meeting the needs of the world’s top brands,” said Swapnil Jain, CEO, Observe.AI. “Today’s customer service agents have a unique ability to emotionally connect with customers and are often a brand’s only frontline representatives. This investment will fuel our mission to elevate agent performance through AI-based coaching and insights.“
The company uses speech and natural language processing and deep learning technologies to analyse 100% of customer conversations and provide adaptive coaching, including completely automating some parts of the quality assurance and compliance tracking processes.
“We expect to see a 4X increase in annual recurring revenue in 2020,” said Sharath Keshava Narayana, CRO of Observe.AI. “With plans to significantly expand our sales, marketing, and customer success teams over the next few months, we’re both eager and grateful to build on the momentum.”
"Observe.AI is already disrupting the $300 billion voice customer service market by rethinking how agents are coached and the way top brands provide personalized customer experiences,” said Andy Vitus, Partner at Scale Venture Partners.
The company also announced that is has been accepted into the Microsoft for Startups program. With this relationship, Microsoft customers can leverage Observe.AI’s platform through its Azure marketplace.
“At Microsoft, we're thrilled to see one of our Microsoft for Start-Up members excel as one of the fastest-growing startups in the Bay Area. Observe.AI continues to define how AI can transform the customer experience, impacting enterprise support teams to improve quality of service, agent performance, and productivity," said Shaloo Garg, Managing Director, Microsoft for Start-Ups.
In the past 12 months, Observe.AI has signed 100 customers and formed partnerships with organizations like Microsoft, Talkdesk, ERCBPO, and itelBPO.
“Observe.AI is set to transform voice customer service for the AI era. We are delighted to have partnered with them from the early days of their journey,” said Jishnu Bhattacharjee, Nexus Managing Director and Observe.AI board member.
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The funding will be used to expand its teams in the United States and India, and accelerate product development. Further, Andy Vitus, partner at Scale, will be joining Observe.AI’s board. This brings the company’s total funding to $34 million, having earlier raised $8 million from Nexus Venture Partners.
“Legacy speech analytics systems are simply not meeting the needs of the world’s top brands,” said Swapnil Jain, CEO, Observe.AI. “Today’s customer service agents have a unique ability to emotionally connect with customers and are often a brand’s only frontline representatives. This investment will fuel our mission to elevate agent performance through AI-based coaching and insights.“
The company uses speech and natural language processing and deep learning technologies to analyse 100% of customer conversations and provide adaptive coaching, including completely automating some parts of the quality assurance and compliance tracking processes.
“We expect to see a 4X increase in annual recurring revenue in 2020,” said Sharath Keshava Narayana, CRO of Observe.AI. “With plans to significantly expand our sales, marketing, and customer success teams over the next few months, we’re both eager and grateful to build on the momentum.”
"Observe.AI is already disrupting the $300 billion voice customer service market by rethinking how agents are coached and the way top brands provide personalized customer experiences,” said Andy Vitus, Partner at Scale Venture Partners.
The company also announced that is has been accepted into the Microsoft for Startups program. With this relationship, Microsoft customers can leverage Observe.AI’s platform through its Azure marketplace.
“At Microsoft, we're thrilled to see one of our Microsoft for Start-Up members excel as one of the fastest-growing startups in the Bay Area. Observe.AI continues to define how AI can transform the customer experience, impacting enterprise support teams to improve quality of service, agent performance, and productivity," said Shaloo Garg, Managing Director, Microsoft for Start-Ups.
In the past 12 months, Observe.AI has signed 100 customers and formed partnerships with organizations like Microsoft, Talkdesk, ERCBPO, and itelBPO.
“Observe.AI is set to transform voice customer service for the AI era. We are delighted to have partnered with them from the early days of their journey,” said Jishnu Bhattacharjee, Nexus Managing Director and Observe.AI board member.
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