Artificial Intelligence is paving new ways globally with its great applications and tends to receive funding on a big scope. India-based artificial intelligence firm, Observe.ai freshly raised an investment round of $125 Million in Series C funding with its major investors as SoftBank Vision fund. As per observe.ai $125m series softbanklundentechcrunch
Other investors in this round include Zoom, Scale Venture Projects, Menlo Ventures, Nexus Venture Partners, Next 47 Ventures, and others. The recent investment has a major effect on the overall valuation of the company, however, the actual valuation has not been declared by the company. Aa per observe.ai $125m series softbanklundentechcrunch
About Observe.AI company
Observe.AI is an Artificial Intelligence based company that provides real-time and artificial intelligence-based customer solutions. It was founded in 2017 with its headquarters established in Mumbai, Maharashtra, India.
The co-founders of Observe.AI are Swapnil Jain, Akash Singh, and Sharath Keshava. The popular AI-based start-up started its operations with a vision to make customer engagement and experience better by getting real-time insights into the conversation. The company is using AI to detect conversations and improves performance.
Real-time insights of customer conversations with agents help drive the best solutions for the same. For the same reason, their major product includes the Conversation Intelligence Platform. As the name suggests, they observe customer analytics and help maintain better efficiency in the future. Their multiple products include.
Supervisor Assist, Agent assist, tracks the performance of the agent conversing with the customer, and Auto QA. The AI-based system maintains accuracy and sales performance. When a conversation happens, it detects numerous things and makes an insight of the same such as emotions and it also notes down any particular information such as dates, names, phone numbers, etc.
The start-up is working efficiently and is generating good revenue and a customer base, though they haven’t revealed the current valuation of the firm. The product supports multiple conversation platforms such as E-Mail, chatting, or any voice-based converse.
Its customers are global companies such as Pearson, Accolade, Southeastrans, and Resmed. Some Competitors of India-based start-up, Observe.ai are CallMiner Eureka, Chorus.ai, Zoominfo, and Invoca.
Chief Executive Officer of Observe.ai, Swapnil Jain said that their firm mainly focuses on maintaining the accuracy of AI in their operations. In addition to that, he also said the company will be focussing on new categories as well and they are already doing great in terms of the contact center industry, which is majorly used by the customers of Observe. AI.
He also added that the funding raised in good and leading technologies will “Make or break business outcomes”.
With the recently raised funding, Observe.ai will include some new categories on their current working path such as video analysis. With this, they are going to do some major upgradation in the contact center markets, which is a major point for the agent and customer interaction & conversation.
The CEO said on expanding the operations to video conversation that will be their very first time working in the same. The company has not declared the exact details but the funding will also assist them with the IPO. Contact centers working productivity will increase to a big extent with this round, however, they are already setting benchmarks in their respective fields.
Investor Partner
Softbank Vision fund is the prime investor here. Priya Saiprasad of Softbank Vision fund said that they are thrilled to collaborate with Observe.AI due to their great and mind-blowing vision in the direction of the Ai-based customer conversation analytics system. as per observe.ai $125m series softbanklundentechcrunch
She praised Observe.AI by saying that the company has a flexible platform and is helping customers from various domains such as healthcare, financial institutions, and many more.
Softbank Vision fund is an investment company based on Venture capital and was founded in 2017 with its headquarters in London, England. It is a subsidiary company of Softbank Group.
The second investor of this deal is the Video meeting platform Zoom, which will be the first time for Observe. AI to work with the same and video conversation analytics. However, there is no surety about that and the CEO said that they have to analyze the productivity and the values from the video conversation and analytics. Zoom was launched on 10 September 2012 as a video meeting and conferencing platform and has been upgrading itself since then. The platform is available in 15 languages as of now. as per observe.ai $125m series softbanklundentechcrunch
With this, the overall funding amount raised by the company has reached $213 Million. Discussing the last three funding rounds before this deal, the company raised $8.07 Million in a seed funding round in May 2018.
On 10 December 2019, Observe.ai raised an investment amount of $26 Million in a series A round with Scale Venture Partners as the Chief investor. The second latest funding round was a $54 million series deal and the main investing partner here is Menlo Ventures.
Artificial Intelligence is an evolving field, which is growing at a good pace at present. While using AI for customer analytics operations, the company is very focused on maintaining the accuracy of the process, which is an important part to be considered.
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