Dubai: yellow.ai, the customer experience (CX) automation platform, has raised $78.15 million in a Series C round led by WestBridge Capital, Sapphire Ventures, and Salesforce Ventures.
This brings total funding raised so far to $102.15 million. With the fresh infusion, yellow.ai will deepen investments towards global expansion, hire talent across regions, and raise R&D in hyper-automation.
yellow.ai enables enterprises to leverage its platform to build chatbots and voice bots, in 100 odd languages, across 35 plus channels that automate functions like customer support, customer engagement and employee experience. The platform comes pre-integrated with enterprise applications like SalesForce, Shopify, Cisco, Avaya, Sharepoint, and 100 more.
Since the previous funding round, yellow.ai has grown 470 per cent in recurring revenue. The company now brings automation to the $1.3 trillion support sector and expands its expertise to automate end-to-end commerce, marketing, and HR, ITSM.
Raghu Ravinutala, CEO and co-founder of yellow.ai, said, “With our rapid client and revenue expansion in the Middle East 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.”
“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.”
One of the largest globally recognized pizza delivery chains has moved 100 per cent of its customer service to ‘Dom’, an omnichannel AI assistant developed by yellow.ai on voice and text channels. Dom personalizes offers and recommendations for millions of customers, whilst reducing customer support resolution time by 70 per cent, resulting in higher cost savings to the company.
Jai Das, President at Sapphire Ventures, said, “We’ve looked at hundreds of customer service and experience platforms over the years, but what caught my eye about yellow.ai was their impressive technology and growth, achieving 4x year over year growth despite the pandemic. Sapphire is looking forward to this partnership, and supporting yellow.ai’s mission to revolutionize customer experience with better service.”