Yellow.ai, a customer experience automation platform, has raised $78.15 million (Rs 580 crore) in a Series C funding round led by WestBridge Capital and joined by Sapphire Ventures, Salesforce Ventures and Lightspeed Venture Partners.
Yellow.ai will use the fresh capital to further build its tech and increase its presence in the US, UK, Middle East, Southeast Asia and Latam. The firm will be adding around 70 employees to its workforce of over 500.
The latest round of funding brings the total funding to $102.15 million.
The company offers NLP (natural learning processor) engines and platforms to enterprises. The chat and voice bot built on the platform can be used to automate customer support and conversational commerce. The bots can be used in over a 100 languages.
The company says it has grown over 470% in recurring revenue since securing its last funding round of $20 million in April last year.
Founded in 2016 by Raghu Ravinutala, Rashid Khan, and Jaya Kishore Reddy, Yellow.ai aims to boost efficiency by automating conversations on text and voice on various channels.
“What caught our eye about Yellow.ai was their impressive technology and growth, and achieving 4x year over year growth despite the pandemic,” said Jai Das, co-founder and partner at Sapphire Ventures.
The AI firm competes with companies like Dialogflow, Ideta, and Kore.Ai.
The firm currently works with over 700 enterprises like Domino’s, Hyundai, MG Motors, Swiggy, Bajaj Finserv, Bharat Petroleum, and Tata Capital.