On Tuesday, Observe.AI (1) announced that it had secured 54 million USD in its Series B funding round. Menlo Ventures led the latest fundraise along with participation from Next47 Ventures and NGP Capital. The infusions have increased the total capital of the startup to date to 80 million USD.
Steve Sloane, Menlo Ventures partner, will join the board of Observe.AI. The voice AI startup has also secured 26 million USD before the Series B round in December 2019 from Nexus Venture Partners. The startup plans to utilize the funds to expand its team in both offices, the US, and India. Moreover, the firm will also focus on accelerating its product development.
The CEO and Cofounder of Observe.AI, Swapnil Jain, stated that they use their mantra as guidance to think about their product development and initiatives for customer success. The team sincerely believes that they must be accurate, quicky, and have a more human approach to provide the best Contact Center AI solution worldwide.
Observe.AI Striving to Gain Market Confidence
Akash Singh, Swapnil Jain, and Sheranath Narayan founded Observe.AI in May 2017. The startup uses the latest speech, deep learning technologies, and natural processing of languages to analyze customers’ conversations. The artificial intelligence-based platform becomes smarter with each call analysis.
Top brands are demanding for AI-powered solutions continually. It would support their automate workflows, frontline agents while unlocking customer intelligence from phone calls. The founders of Observe.AI are delighted to see that the startup is gaining traction and market confidence, stated Shaloo Garg, MD of Microsoft for Startups.
As per the claims of the startup, it has over 100 clients in the previous 12 months. Some of the startup’s notable clients include Microsoft, Talkdesk, Concentrix, TripAdvisor, Root Insurance, and ClearMe. These brands are looking for Artificial Intelligence to support their agents and automatic their workflow, added Shaloo Garg.