Uniphore, a leading player in conversational automation has announced its Series E funding round of $400 million. The round, which brings Uniphore’s total funding to more than half a billion ($610 million) is led by NEA and raises the company’s valuation to $2.5 billion. March Capital and other existing investors along with new entities are also participating in this funding round.
The new round of funding is Uniphore’s largest to date and will be used to extend its technology and market leadership with advancements in voice AI, computer vision and tonal emotion, as well as to expand its business operations globally, specifically in North America, Europe and Asia Pacific.
The market for automating enterprise conversations has rapidly accelerated in the past few years as companies recognise the impact of positive customer interactions on their brand image and loyalty. As a result, many businesses have turned to artificial intelligence and automation to create smooth and frictionless customer experiences, and Uniphore has been at the forefront of innovation leading the industry.
“Understanding conversations and the data and insights derived from them is essential to every business,” said Umesh Sachdev, CEO and co-founder, Uniphore. “Our conversational automation engine has been delivering powerful and innovative solutions to help enterprises not just survive but thrive amidst all the demands placed on them by customers. It is an incredibly exciting time to be in this industry and at Uniphore, with a rapidly growing customer base and unparalleled talent joining our leadership team and board of directors. I am looking forward to working with businesses around the world to help drive their success in 2022.”
Team expansion
Uniphore said that it also had expanded its team with the appointment of Hilarie Koplow-McAdams, Venture Partner, NEA, to Uniphore’s Board of Directors. The company also said that it had recently appointed Balaji Raghavan as Chief Technology Officer, Andrew Dahlkemper as Chief People Officer, and Vinod Muthukrishnan as Senior Vice President, Developer Platforms.
“When we look at Uniphore’s technology and the great advances the company has made in the last few years, we are very excited about its future product roadmap and are thrilled to participate in this new round,” said Hilarie Koplow-McAdams, Venture Partner, NEA. “As we continue to operate in an increasingly virtual work model, technologies like Uniphore’s are a necessity for organizations that want to unleash their competitive advantage and take their business to the next level.”