Uniphore, conversational service automation (CSA) solutions provider, on Wednesday said it has raised USD 140 million (about Rs 1,023 crore) in funding, led by Sorenson Capital Partners. The series D round – its largest funding round to date – also saw participation from new investors from Europe and the Middle East, Serena Capital and Sanabil Investments, and strategic investor, Cisco Investments, a statement said. Further expanding their previous investments in Uniphore, March Capital Partners, National Grid Partners, Chiratae Ventures, Iron Pillar Fund, and Sistema Capital also participated in this round, it added.
This brings the total funds raised by the company to USD 210 million. The funding will be used to extend Uniphore’s technology and market leadership in artificial intelligence, automation and machine learning across the enterprise, the statement said. This will also include a focus on video-based AI applications stemming from Uniphore’s acquisition of Emotion Research Labs earlier this year as well as applications in Trust, Security and RPA (Robotic process automation) markets, it added. The company has also appointed Rob Rueckert, Managing Partner at Sorenson Capital Partners, to the Uniphore Board of Directors. Rueckert is an experienced technology-focused executive who brings a strong background in both product innovation and growth.
“Given the rapid digital transformation happening across the enterprise, the need for automated and intelligent solutions to help drive new business models has never been greater. We saw this years ago and have been delivering innovation to areas such as contact centres, to enable better customer experiences,” Umesh Sachdev, Chief Executive Officer and co-founder of Uniphore said. He added that the injection of capital and new addition to board leadership will fuel the company’s growth, position it to outpace the competition and help transform business through dramatically improved customer experiences. Uniphore expects to have USD 100 million in contracted annual recurring revenue (ARR) in fiscal 2022 based on a forecast of continued hypergrowth.