Observe. AI raises USD 26 million led by Scale Venture Partners
New Delhi, December 10 () Observe.AI, an artificial intelligence (AI) agent enabled for voice customer service, said Tuesday that it raised USD 26 million (about Rs 184 million rupees) in a round of funding directed by Scale Venture Fogonadura.
The series A financing round also featured the participation of Nexus Venture Partners, Steadview Capital, 01 Advisors and Emergent Ventures, according to a statement.
This brings the company's total financing to USD 34 million, he added.
The latest funding will allow Observe.AI to expand its US team. UU. And India globally and accelerate product development.
Along with the funding, Andy Vitus, Scale's partner, will join the board of Observe.AI.
Legacy voice analysis systems simply do not meet the needs of the world's leading brands. Today's customer service agents have a unique ability to connect emotionally with customers and are often the only frontline representatives of the brand, said Swapnil Jain, CEO and co-founder of Observe.AI. said.
The investment will boost the company's mission of raising agent performance through training and knowledge based on artificial intelligence, he added.
Some of Observe.AI users include TripAdvisor, Concentrix, ClearMe and Root Insurance. We expect to see a 4X increase in annual recurring revenue in 2020. With plans to significantly expand our sales, marketing and customer success teams in the coming months, we are eager and grateful to take advantage of the momentum, Sharath Keshava Narayana, CRO, Observe. AI said. SR RVK