Yellow.ai raises $78 mn to expand AI chatbot platform, hire more

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Bengaluru, Aug 4 (IANS) Customer experience (CX) automation platform yellow.ai on Wednesday announced that it has raised $78.15 million in Series C funding, taking the total funding raised so far to $102.15 million.

The company said it will strengthen its leadership in over 50 countries including India, Southeast Asia, the UK, Middle East, and LATAM, and establish a strong presence in the US, adding 70 employees to its more than 500 global workforce.

yellow.ai currently enables more than 700 enterprises globally to leverage its Natural Learning Processing (NLP) engine and platform to build chatbots and voice bots, in more that 100 languages and over 35 channels.

"With our rapid client and revenue expansion in India and 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 democratise AI in the near future," said Raghu Ravinutala, CEO and Co-Founder of yellow.ai.

The latest funding round was led by WestBridge Capital, along with Sapphire Ventures and Salesforce Ventures. Lightspeed Venture Partners again participated in this round.

"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," said Sumir Chadha, Founder and Managing Partner of WestBridge Capital.

Since its prior funding round, yellow.ai has grown 470 per cent in recurring revenue and secured hundreds of new customers.

"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," said Ravinutala.

--IANS

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