Uniphore Software Systems is a start-up that provides cloud-based enterprise software (SaaS) backed by Conversational AI. Uniphore’s Indian founders Ravi Saraogi and Umesh Sachdev established the company presence both in Chennai, India as well as Palo Alto, California. They essentially brought about automation for video and voice-based customer service organisations.
In its latest Series D Funding, Uniphore managed to raise $140 M backed both by new and existing investors including Sorenson Capital Partners, Serena Capital, Sanabil Investment, Cisco Investments, March Capital Partners, National Grid Partners, Chiratae Ventures, Iron Pillar Fund, and Sistema Capital. This funding round has raised the total net worth of the firm to $210 M. Over the course of 4 years, Uniphore has undergone 7 funding rounds.
A start-up, now a unicorn, Uniphore is seeing no end to its growth. The owners already have made grand plans about the course of its growth and progress in the coming future.
Growth of the company
A start-up, now a unicorn, Uniphore is seeing no end to its growth. The owners already have made grand plans about the course of its growth and progress in the coming future. Uniphore is all set to increase its focus on its video-based Artificial Intelligence (AI) applications. The other focus will be to enhance its product portfolio in key areas like trust, security, and Robotic Process Automation (RPA).
Uniphore’s growth trajectory
Uniphore’s growth has been steadily occurring with one acquisition after the other. It recently acquired AI-backed technology analysis, and emotion recognition Spanish firm ‘Emotion Research Lab’. Also, a part of their acquisition is video AI and RPA technology. Within the span of a year, Uniphore not only signed contracts with bigwigs (Tech Mahindra, NTT Data, Sitel, Firstsource, and WNS Global Services) but also recruited over 100 employees across the world. The fiscal year ending March 2021 saw a tripling of sales.
The biggest growth spurt came for Uniphore during the global shift to remote work last year. With an unprecedented demand for Video and Voice calling apps, Uniphore used the opportunity to transform their product in a way that customer service organisations could improve their conversations by detecting user intent and emotion.
Uniphore’s ambitious agenda
Uniphore has expressed confidence that it will make $100 M in contracted Annual Recurring Revenue (ARR) in the fiscal year of 2022. That’s not all, they are also keen on taking the company public through a direct listing or a special purpose acquisition company, soon.
Uniphore’s ambitious hiring plans
Uniphore is looking to go on a recruitment spree and has already affirmed that it is moving forward with plans to onboard 300 more people by 2022. The company wants to expand its market leadership and has already listed a number of job openings. The current open positions listed include requirement for a ‘Revenue Intelligence Analyst’, ‘Principal Talent Advisor’, ‘Implementation Partner Alliances’, ‘Senior Speech Scientist’, and Senior Executive for Internal Marketing Communications’.
What’s in it for me?
Start-ups can consider the Conversational AI Market as an ideal basecamp since this space is growing at an accelerated pace. The demand is not only high, but a number of Indian start-ups have successfully scaled up in this sector in a short span of time.
The Indian government was also on the lookout for Conversational AI providers and ‘Senseforth’, a Bengaluru-based start-up was recently chosen for a governmental Voice Assistant project.
What start-ups can learn from Uniphore’s growth is to swoop in on the right opportunity in Conversational AI. The right opportunity is here and now since remote conversations over voice and video calls are still going strong and have taken centre stage across all sectors. There is ample opportunity for receiving investments, and the huge market demand will only propel you forward.