Ushur, an AI-powered Customer Experience Automation™ (CXA), has raised a $50 million Series C funding round led by Third Point Ventures along with participation from existing investors Iron Pillar, 8VC, Aflac Ventures and Pentland Ventures.

Funds from this round will go towards expanding Ushur’s experience automation portfolio, developing new innovations in AI and moving into new regions and industry verticals. In the last 12 months, Ushur has tripled its headcount, doubled its customer base and achieved a Net Revenue Retention (NRR) of 164 per cent.

“The previous generation of enterprise automation was designed for infrastructure processes. We built Ushur’s AI platform with a different goal in mind: to provide excellent customer experiences at scale and to deliver meaningful interactions that put the customer’s needs at the centre. Enterprises have a massive appetite for modernizing the customer experience to maintain their market position. When combined with automation, this unlocks tremendous financial value. Ushur’s CXA cloud delivers on both of these promises. Our success is a direct result of the value created for the enterprise with a focus on the customer experience, which continues to shape our technology, strategy and culture,” said Simha Sadasiva, CEO and cofounder, Ushur.

Half of Ushur’s customers are Fortune 500 companies including globally recognized brand names such as Aflac, Cigna, CVS, Irish Life, United Healthcare and Unum Group. With Ushur, these enterprises are said to have improved customer engagement rates as much as 85 per cent, reduced email triage times from five days down to five minutes and slashed customer issue resolution times by as much as 90 per cent.

Customer engagement

“Ushur is achieving impressive growth and deployment with production technology perfectly suited to automate enterprise-class customer engagements. As enterprises in verticals such as insurance, healthcare and financial services run into the limits of the previous generation of business process automation, we see Ushur’s user experience-focused,” said Rob Schwartz, Managing Partner, Third Point Ventures.

Mohanjit Jolly, Partner, Iron Pillar, said: “We have been long-time believers in Ushur’s unique approach of using AI-powered automation to elevate the enterprise customer experience while delivering operational efficiencies that are the need of the hour for every business leader. It is exactly the sort of super-practical, high-impact technology that Iron Pillar looks for when we invest. We are excited to partner with Ushur on their extraordinary growth journey.”

In addition to growing its customer base, Ushur has expanded its ecosystem through strategic partnerships with Benefitfocus, Sutherland, HCL, WNS, Sagility and Guidewire, launched a rapid integration capability with Salesforce AppExchange and introduced Ushur’s Healthcare solution to the Amazon Web Services Marketplace.

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