Conversation AI Firm Uniphore Raises $140 million in Series D Round

Conversational AI tech startup, Uniphore has raised $140 million in a Series D round led by Sorenson Capital Partners. The round also saw the participation of new investors Serena Capital, Sanabil Investment, and Cisco Investments. Additionally, existing investors March Capital Partners, National Grid Partners, Chiratae Ventures, Iron Pillar Fund, and Sistema Capital also participated in the Series D round.

Incubated at IIT Madras, Uniphore was founded by Umesh Sachdev and Ravi Saraogi in 2008. The firm has designed software for conversational analytics, conversational assistant, and conversational security. The company has dual headquarters in both Palo Alto, California, and Chennai, India, with offices in the United States, Singapore, and India.

Post this funding round, Uniphore has now cumulatively raised $210 million as the startup is now planning to get into the video domain. In a statement, the company mentioned that it plans to use the investment to expand its existing conversational AI and machine learning technologies deeper into the enterprise, with a particular focus on video-based applications.

Based on a prediction of sustained "hypergrowth," the startup plans to have $100 million in contracted annual recurring sales in fiscal 2022. Rob Rueckert, the Managing Partner at Sorenson Capital Partners, was also inducted into the startup's Board of Directors.

“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, Umesh Sachdev, Co-founder & CEO, Uniphore. He further added, “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.”

Rob Rueckert, the Managing Partner at Sorenson Capital, commented, "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."