Customer experience (CX) automation platform yellow.ai has raised $78.15 million in a Series C funding round led by WestBridge Capital along with Sapphire Ventures, and Salesforce Ventures.
Lightspeed Venture Partners again participated in this round, which brings total funding raised so far to $102.15 million.
yellow.ai enables enterprises to leverage its proprietary NLP engine and platform to build chatbots and voice bots, in more than 100 languages, across more than 35 channels that automate functions like customer support, customer engagement, conversational commerce, and employee experience.
The platform comes pre-integrated with enterprise applications like SalesForce, Shopify, Cisco, Avaya, Sharepoint, and 100 more.
“yellow.ai has broken out of the crowded virtual-assistant market with its automation-first with a human-assist model, to deliver a higher customer satisfaction and incremental revenue growth to it’s enterprise clients,” said Raghu Ravinutala, CEO and co-founder of yellow.ai.
“With our rapid client and revenue expansion in Singapore and across the world, we’re geared to becoming the global leader in the CX Automation space and are bullish on building our product, partnerships, teams, and community to truly democratize AI in the near future,” said Ravinutala.
yellow.ai intends to strengthen its market position — particularly in India, Southeast Asia, the United Kingdom, the Middle East, and Latin America — and establish a strong presence in the United States.
With the fresh infusion of capital, yellow.ai plans to deepen investments towards global expansion, hiring top talent across regions, and applied R&D in hyper-automation.
“What impressed us the most is the speed at which customers deployed yellow.ai for support automation and quickly scaled to commerce, HR, and other use cases,” said Sumir Chadha, founder and managing partner of WestBridge Capital. “This pattern is a testimony to the platform’s capability of creating an impact across the board thereby becoming a pivotal AI-partner.”
Jai Das, co-founder and president at Sapphire Ventures, said that at a time when consumers expect personalisation and everything on-demand, yellow.ai is pioneering CX Automation with a platform that not only addresses inbound customer support requests instantaneously but also enables businesses to proactively engage customers across any channel.
“As the team continues to show strong execution, we are bullish about the company’s continued momentum and ability to provide cutting edge AI solutions for their customers,” said Amy Wu, partner at Lightspeed Venture Partners.
