Business Wire

yellow.ai Raises $78.15M to Deliver Total Customer Experience Automation

Share

yellow.ai, the world’s leading customer experience (CX) automation platform, trusted by 700+ enterprises globally, today announced it has raised $78.15M in Series C, led by WestBridge Capital along with Sapphire Ventures, and Salesforce Ventures. Lightspeed Venture Partners again participated in this round, which brings total funding raised so far to $102.15M.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20210804005587/en/

To view this piece of content from mms.businesswire.com, please give your consent at the top of this page.

Raises $78.15M to Deliver Total CX Automation (Graphic: Business Wire)

yellow.ai enables enterprises to leverage its proprietary NLP engine and platform to build chatbots and voice bots, in 100+ languages, across 35+ channels that automate functions like Customer Support, Customer Engagement, Conversational Commerce, and Employee Experience. The platform comes pre-integrated with enterprise applications like Salesforce, Shopify, Cisco, Avaya, SharePoint, and 100 more.

Since its prior funding round, yellow.ai has grown 470% in recurring revenue and secured hundreds of new customers as the company brings automation to the $1.3T support sector and expands its prowess to automate end-to-end commerce, marketing, HR, and ITSM.

Raghu Ravinutala, CEO and Co-Founder of yellow.ai said, “yellow.ai has broken out of the crowded virtual-assistant market with our automation-first with human-assist model, to deliver a higher customer satisfaction and incremental revenue growth to our enterprise clients. With our rapid client and revenue expansion across the world, we’re geared to become the global leader in the CX Automation space and are bullish on building our product, partnerships, teams, and community to truly democratize AI in the near future.”

yellow.ai will strengthen its dominant leadership in 50+ countries including India, Southeast Asia, UK, Middle East, and LatAm, and establish a strong presence in the U.S., adding 70 employees to its 500+ global headcount. With the fresh infusion of capital, yellow.ai will deepen investments in global expansion, hiring top talent across regions, and applied R&D in hyper-automation. Currently, the company’s AI-powered bots deliver automated CX on 35+ chat and voice channels, across 100+ languages, handling billions of interactions every quarter. Its virtual assistants have been credited with learning customer behavior so precisely that one international financial services company was able to leverage virtual assistants powered by yellow.ai to generate $100M in upsell revenue in just three years.

“What impressed us the most is the speed at which customers deployed yellow.ai for support automation and quickly scaled to commerce, HR, and other use-cases. This pattern is a testimony to the platform’s capability of creating an impact across the board thereby becoming a pivotal AI-partner,” added Sumir Chadha, Founder and Managing Partner of WestBridge Capital.

Jai Das, Co-founder, President, and Partner at Sapphire Ventures, said, “During a timewhen consumers expect personalization and everything on-demand, yellow.ai is pioneering CX Automation with a platform that not only addresses inbound customer support requests instantaneously but also enables businesses to proactively engage customers across any channel. We’ve looked at hundreds of customer service and experience platforms over the years, but what caught our eye about yellow.ai was their impressive technology and growth, achieving 4x year over year growth despite the pandemic. Sapphire is looking forward to this partnership, and to supporting yellow.ai’s mission to revolutionize customer experience with better service.”

The rise in the adoption of AI and the importance of virtual assistants, already recognized prior to the pandemic, continues to accelerate as organizations are challenged with handling increasing customer queries in a digital environment more effectively with existing teams.

One of the largest globally recognized pizza delivery chains has moved 100% of its customer service to “Dom,” an omnichannel AI assistant developed by yellow.ai on voice and text channels. Dom personalizes offers and recommendations for millions of customers, while reducing customer support resolution time by 70%, resulting in higher CSAT and cost savings for the company.

Amy Wu, Partner at Lightspeed Venture Partners said, “yellow.ai continues to solidify their market leadership in Asia, the US, and beyond. As the team continues to show strong execution, we are bullish about the company’s continued momentum and ability to provide cutting edge AI solutions for their customers.”

"With its enterprise-grade platform battle-tested across several hundred deployments in the most active messaging market in the world, namely Asia, yellow.ai is now continuing its growth through global expansion to North America, Latin America, and Europe," added Dev Khare, Partner, Lightspeed India Partners, a long-standing investor in yellow.ai.

In measures of learning and training, yellow.ai’s NLP engine, based on a few-shot learning model, outperforms well-known vendors in the market by an average of 28% even with 50% less data input. The proprietary NLP Engine also allows bots to be trained in multiple languages without the need for any translation. These innovations have increased the enterprise’s time to value vastly to deliver 60% automation in the first 30 days of go-live.

About yellow.ai

yellow.ai is the world’s leading Conversational AI and CX Automation Platform, recognized by Gartner, IDC, and G2 crowd as a leader. The platform is trusted across 50+ countries by 700+ enterprises, including Domino’s, Sephora, Hyundai, Biogen International, Edelweiss Broking, Siemens Limited, Waste Connections, American Bureau of Shipping, and MG Motors. Weaving in the best of AI and human intelligence to automate customer and employee experience, the company aims to democratize AI through its no-code/low-code bot builders, omnichannel virtual assistants, and ticketing automation suite. yellow.ai has raised more than $102M from blue-chip investors and has offices across six countries.

Visit www.yellow.ai for more information. Contact us at contact@yellow.ai

To view this piece of content from cts.businesswire.com, please give your consent at the top of this page.

Contact information

For media inquiries, please contact:
Chris Blake, Director, Sparkpr
Phone: 818-406-1236
Email: chris.blake@sparkpr.com

For business inquiries, please contact:
Suvina Rai, Communications Lead, yellow.ai
Email: suvina@yellow.ai

About Business Wire

Business Wire
Business Wire
24 Martin Lane
EC4R 0DR London

+44 20 7626 1982http://www.businesswire.co.uk

(c) 2018 Business Wire, Inc., All rights reserved.

Business Wire, a Berkshire Hathaway company, is the global leader in multiplatform press release distribution.

Subscribe to releases from Business Wire

Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.

Latest releases from Business Wire

REPLY: Countdown to the Reply Cyber Security Challenge 202128.9.2021 09:30:00 CEST | Press release

On the 15th of October 2021, Reply will launch the fourth edition of the Reply Cyber Security Challenge, a team-based coding competition open to young professionals and cyber security enthusiasts from all over the world. This year’s edition will be supported by Intesa Sanpaolo, one of the top banking groups in Europe, and Immersive Labs, the platform empowering businesses to increase, measure and evidence human capability in every part of their cybersecurity. Intesa Sanpaolo‘s support confirms its commitment to increase education, awareness and training on cybersecurity among young people. Improving cybersecurity knowledge, skills and judgement is Immersive Labs’ mission and the Reply Cyber Security Challenge represents a new and engaging way to power up people’s cyber capabilities. The challenge, which in 2020 welcomed more than 10,000 participants from 160 countries gather together in 2,380 teams, aims to put teams (from 2 to 4 players) in competition in a 24-hour marathon, Capture T

Speech Processing Solutions (SPS) becomes a Nuance Dragon Medical One Distributor in Europe and Asia Pacific Region28.9.2021 09:02:00 CEST | Press release

Speech Processing Solutions (SPS), a leader in professional dictation, has announced they are joining forces with Nuance Communications as an official distributor of Nuance Dragon Medical One, the leading cloud-based speech recognition solution for clinical documentation, in Europe and Asia Pacific Regions. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20210928005069/en/ © Philips Dictation (Photo: Business Wire) One-stop shop for all voice-to-text needs This agreement enables SPS to become a one-stop-shop for healthcare solution partners and resellers providing dictation, speech recognition, and transcription software, as well as all hardware needs. The Nuance Dragon Medical One solution, which allows clinicians to document the complete patient record by voice, can now be easily combined with leading dictation workflow software and dictation hardware, such as the leading Philips SpeechMike line-up. Dr. Thomas Brauner, CEO of

Tigo Energy to Reveal New Solutions for Solar Fleet Management and Fire Safety at Intersolar Europe28.9.2021 09:00:00 CEST | Press release

Tigo Energy, Inc., the solar industry’s worldwide leader in Flex MLPE (Module Level Power Electronics), confirms the Company’s presence at the upcoming Intersolar Europe in Munich, Germany. Tigo representatives will showcase the entire family of Tigo TS4 Flex MLPE devices, including the recently introduced TS4-A-2F and the Tigo Energy Intelligence software platform. Together, these Tigo products make up the most cost-effective and advanced solution for rapid shutdown on large-scale solar projects. Tigo Energy has led solar innovation with its Tigo TS4 Flex MLPE by providing the freedom for customers to choose the features and components for their solar installations. Over the past 12 months, Tigo released key updates and innovations to its Flex MLPE product line to address the growing demand for high-power solar modules and energy projects that call for a diversified set of fire safety, monitoring, management, and power optimization features. “The Tigo TS4 is a fixture in the systems w

Galderma to Unveil Ground-breaking Data From Across Its Leading Dermatology Portfolio and Showcase Major Update for Sensitive Skincare Brand CETAPHIL ® at the 2021 EADV Congress28.9.2021 08:30:00 CEST | Press release

Galderma’s presence at the 2021 European Academy of Dermatology and Venereology (EADV) virtual congress on September 29 – October 2 will reveal new data and showcase the company’s sophisticated portfolio and services across the spectrum of dermatology. The company’s redesigned virtual booth will have dedicated areas presenting Galderma’s innovations in Consumer Care and Prescription Medicine. Unveiling new data in Prescription Medicine The congress will see the unveiling of exciting new data from Galderma relating to rosacea, acne, actinic keratosis, atopic dermatitis and prurigo nodularis. Attendees will have the opportunity to ask questions to the faculties during live Q&A sessions. On Thursday, September 30, Professor Alison Layton^ will chair the symposium Personalizing Acne: Consensus of Experts to Optimize Acne Management. Together with her co-speakers, Professor Layton will provide practical solutions for longitudinal management of acne. On the same day, Professor Gil Yosipovitc

ThreatConnect Expands Into South Africa, Partnering With Leading MSSP28.9.2021 07:00:00 CEST | Press release

ThreatConnect, Inc.®, the leader in reducing complexity and enabling better decision-making in cybersecurity, announced that it has entered a strategic partnership with BUI, Microsoft’s largest Security and Consulting Partner in South Africa. BUI is an award-winning Microsoft Azure Expert MSP, a member of the Microsoft Intelligent Security Association, and a Gold Microsoft Partner delivering cloud and security solutions, as well as professional services, in SA and across the world. With Cyber Risk Quantification (CRQ), Threat Intelligence Platform (TIP) and Security Orchestration, Automation, and Response (SOAR) capabilities combined, ThreatConnect unifies the actions of the security team around the most critical tasks, supports their response with streamlined and automated workflows, and strengthens the entire security ecosystem through powerful technology integrations. With ThreatConnect’s comprehensive intelligence-driven SOAR, BUI (among other MSSPs) sees a plethora of immediate be

GlobalLogic Launches Collaborative Hub Based in Lumada Innovation Hub Tokyo28.9.2021 02:00:00 CEST | Press release

Hitachi, Ltd. (TSE: 6501, “Hitachi”) and GlobalLogic*1, a Hitachi Group Company, today announced the launch of a collaborative hub to promote digital transformation (DX) services in the Japanese market. Based in the Lumada Innovation Hub Tokyo*2, a co-creation base for Hitachi, this collaboration hub combines capabilities of GlobalLogic and Lumada. Delivering on the joint integration strategy, this partnership aims to jump-start GlobalLogic’s entry into Japan, and will accelerate business development for design-led Digital Engineering services of GlobalLogic, establishing a system to support customers in Japan starting from fiscal 2022. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20210927005848/en/ A workshop connecting “Lumada Innovation Hub Tokyo” and GlobalLogic's Design and Engineering Centers. (Photo: Business Wire) "The market demand for DX continues to grow at a fast pace, as global brands increasingly leverage digit

SpeeDx and SynGenis Partner for Custom Oligonucleotide Synthesis28.9.2021 00:00:00 CEST | Press release

SpeeDx Pty, Ltd. a developer of innovative molecular diagnostic solutions announced investment in SynGenis Pty Ltd., an experienced oligonucleotide manufacturer based in Western Australia. The partnership will bolster internal capacity of SpeeDx to support large-scale increases in manufacturing while developing and expanding sovereign capacity of important raw materials used in molecular diagnostics. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20210927005329/en/ In addition to securing local supply chain to strengthen sovereign capacity for critical diagnostics and a more robust national health infrastructure, SpeeDx investment in local industry serves to fast track the growth and reach of SynGenis in the global diagnostics market. (Graphic: Business Wire) “We have invested considerable resources into our production scale-up processes to support the increase in testing seen as a result of the global pandemic,” said Tom Lin,