Uniphore Technologies raises $140 million in funding led by Sorenson Capital Partners

Uniphore Technologies, a startup using artificial intelligence to improve an enterprises’ customer service calls, has raised $140 million in Series D funding led by Palo Alto-based Sorenson Capital Partners, along with participation from new investors Serena Capital, Sanabil Investments and Cisco Investments.

The company’s existing backers March Capital Partners, National Grid Partners, Chiratae Ventures, Iron Pillar Fund and Sistema Capital also participated in the Series D round.

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Uniphore said it will use the money to further strengthen its position, and to extend its AI tools to the video calling market, for which it acquired Emotion Research Labs earlier this year. It will also focus on building applications for the security and robotic process automation markets.

“With our recent acquisitions of RPA and video AI technology, we alone can deliver a conversational service automation platform for the modern Enterprise, combining conversational AI and Robotic Process Automation (RPA) across voice and video-based engagements,” said Umesh Sachdev, CEO and co-founder of Uniphore.

Uniphore said its growth has been extremely strong in the past 12 months, and that it expects to have $100 million worth of earnings from annually recurring contracts in fiscal 2022 based on its forecasts. It added that 2020 accelerated digital transformation of enterprises and put the focus on adopting AI and automation.

The company said that its platform supports over 75,000 customer service agents who can handle about 160 million engagements every month. In the past year, the company won contracts with customer experience providers such as Tech Mahindra, NTT DATA, Sitel, Firstsource, and WNS.

“We were very impressed by the Uniphore team and what they have been able to do for customers and the broader market,” said Rob Rueckert, managing partner at Sorenson Capital. “We are excited to back Uniphore and believe 2021 will be a breakout year of innovations and tremendous progress in transforming CX for the Enterprise.” Rueckert has also been appointed to Uniphore’s board of directors.

Founded in Chennai in 2008, Uniphore offers its customers services such as a conversational AI assistant, insights from customer calls using natural language processing, voice authentication tools, and real-time call transcripts.

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