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Observe.ai raises $54 million in funding led by Menlo Ventures – ETtech

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Observe.ai raises $54 million in funding led by Menlo Ventures
Observe.ai, a startup growing AI-primarily based transcription and analytics software program for name centres, has raised $54 million in its Series B funding spherical, led by Menlo Ventures, together with participation from Next 47 Ventures and NGP Capital.

The San Francisco-based firm, which has an workplace in Bengaluru, will utilise the capital to bulk up its R&D in new areas similar to actual-time teaching, omnichannel help and interplay analytics, aside from investing in go-to-market programmes.

“Today’s contact centre is mired with inefficient workflows and lack of data-driven training for frontline agents who represent the voice of the company. By leveraging AI to analyse customer interactions, businesses will turn their contact centres into growth centers,” stated Swapnil Jain, cofounder and CEO at Observe.ai.

The newest spherical brings the overall capital raised by Observe.ai in the final one 12 months to $80 million, with the corporate having raised $26 million in December led by Scale Venture Partners, with participation from Nexus Venture Partners, Steadview Capital, 01 Advisors, and Emergent Ventures.

Founded by Swapnil Jain, Sharath Keshava and Akash Singh in 2017, the corporate says it has grown its income by over 600% in the final 12 months, having offered over 20,000 agent licences in that point. The firm counts enterprises similar to Tripadvisor and Microsoft amongst its 150 odd prospects.

“We see a massive market opportunity to solve automation, data capture, and collaboration problems that prevent enterprises from delivering the kinds of support experiences that customers deserve. Observe.AI is uniquely using AI to automate tedious customer service workflows and deliver actionable intelligence,” stated Steve Sloane, Partner at Menlo Ventures.

Sloane may also be a part of Observe.ai’s board of administrators as a part of the deal.



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