Uniphore turns unicorn with a $400 mn fundraise

Conversational AI platform, Uniphore, has entered the unicorn club with its valuation zooming to $2.5 billion on the back of a fresh $400 million during a Series E round. The round, which brings Uniphore’s total funding to more than half a billion ($610 million) is led by global venture capital firm, NEA. March Capital and other existing investors along with new entities also participated in this funding round.

The new round of funding is Uniphore’s largest to date and will be used to extend Uniphore’s 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 company said in a statement.

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 customer 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,” Sachdev added.

The company has also announced the appointment of Hilarie Koplow-McAdams, Venture Partner, NEA, to Uniphore’s Board of Director. Koplow-McAdams is a seasoned enterprise software and services executive who brings more than three decades of experience for both growth-stage and established companies. Bolstering the strength of its leadership team, the company recently appointed Balaji Raghavan as Chief Technology Officer, Andrew Dahlkemper as Chief People Officer, and Vinod Muthukrishnan as Senior Vice President, Developer Platforms, it announced.