Uniphore secures $140 million as demand for AI surges

Image courtesy of Uniphore

Uniphore has raised $140 million in Series D funding, bringing the total funds invested in the company to $210 million. 

This latest round of financing was led by Sorenson Capital Partners.  It includes additional new investors from Europe and the Middle East — namely Serena Capital and Sanabil Investments — and strategic investor Cisco Investments. 

March Capital Partners, National Grid Partners, Chiratae Ventures, Iron Pillar Fund, and Sistema Capital also took part as they further expanded their previous investments in Uniphore.

The funding will be used to extend Uniphore’s technology in artificial intelligence, automation and machine learning across the enterprise.  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 markets.

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

“This injection of capital and new addition to our board leadership will fuel our growth, position us to outpace the competition and help transform business through dramatically improved customer experiences,” said Sachdev.

Uniphore and expects to have $100 million in contracted annual recurring revenue (ARR) in fiscal 2022 based on a forecast of continued hypergrowth.

In 2020, Uniphore won significant deals including some of the world’s largest telecom providers, insurance companies and financial service organizations.  

Also, they have also won customer contracts with customer experience providers including Tech Mahindra, NTT DATA, Sitel, Firstsource, and WNS.  These deals and others can support over 75,000 customer service agents who can handle approximately 160 million engagements every month. 

“Contact centers are focused on providing excellent customer service and efficiency through AI and automation,” said Stephane Berthier, CFO of Uniphore. “With more than 1.15 million agents employed globally as well as increased focus on agent support and digital customer service, the market opportunity is stronger than ever before.”