United Arab Emirates. Dubai: The AI and Chatbot platform, yellow.ai has raised $78.15M in Series C funding led by WestBridge Capital along with Sapphire Ventures, and Salesforce Ventures. This brings total funding raised so far to $102.15 million. With the fresh infusion, yellow.ai will deepen investments towards global expansion, hire talent across regions, and raise R&D in hyper-automation.
yellow.ai is pioneering Customer Experience automation for some of the largest brands in the Middle East like Carrefour, Kuwait Food Company (Americana), Choithrams, Amouage Oman, Arabian Radio Network, insureatoasis
With the current funding, the company focuses to 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. 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 generate $100M in upsell revenue in just three years.
Commenting on the development, 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 in the Middle East 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 democratize AI in the near future.”
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.
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.”
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.