Uniphore raises $140million in Series D funding



Uniphore raises $140million in Series D funding

Global conversational AI-based software firm Uniphore on Wednesday said it has raised $140 million (approximately Rs 1,024 crore) in Series D funding, bringing the total funds invested in the company to $210 million.

This latest round of financing was led by Sorenson Capital Partners, said Uniphore which was incubated in 2008 in Indian Institute of Technology, Madras (IIT Madras).

It includes additional new investors from Europe and the Middle East, Serena Capital and Sanabil Investments, and strategic investor, Cisco Investments.

Further expanding their previous investments in Uniphore, March Capital Partners, National Grid Partners, Chiratae Ventures, Iron Pillar Fund, and Sistema Capital also participated in the Series D offering, Uniphore said.

The company said that the funding will be used to extend Uniphore's technology and market leadership in AI, Automation and Machine Learning across the enterprise.

This will also include a focus on video-based AI applications stemming from Uniphore's acquisition of Emotion Research Labs earlier this year as well as applications in Trust, Security and RPA (robotic process automation) markets.

The company also announced the appointment of Rob Rueckert, Managing Partner at Sorenson Capital Partners, to the Uniphore Board of Directors.

"Given the rapid digital transformation happening across the enterprise, the need for automated and intelligent solutions to help drive new business models has never been greater," Umesh Sachdev, CEO and Co-founder of Uniphore, said in a statement.

"This injection of capital and new addition to our board leadership will fuel our growth, position us to outpace the competition and help transform business through dramatically improved customer experiences."

Uniphore opened a new headquarters in Palo Alto, California, in 2019.

Source: IANS