Uniphore Technologies Inc, a conversational automation platform, has raised $400 million in a Series E funding round led by New Enterprise Associates at a $2.5 billion valuation, the firm said on Wednesday.
The round saw participation from March Capital, Sorenson Capital Partners, and Sanabil Investments. Some of its existing investors also participated in the round.
Uniphore has raised $610 million so far, turning unicorn with this latest round.
The company last raised $140 million in March 2021.
The fresh capital will be used to make advancements in voice AI (artificial intelligence), computer vision and tonal emotion, as well as expand its business operations globally, specifically in North America, Europe and the Asia Pacific, the statement said.
As part of this fundraise, NEA Venture Partner Hilarie Koplow-McAdams will join Uniphore’s board of directors.
Koplow-McAdams is an enterprise software and services executive with three decades of experience in both growth-stage and established companies. Uniphore has also appointed Balaji Raghavan as Chief Technology Officer, Andrew Dahlkemper as Chief People Officer, and Vinod Muthukrishnan as Senior Vice President, Developer Platforms, it said.
Founded in 2008 by Umesh Sachdev and Ravi Saraogi, Uniphore is based out of Chennai and California. It competes with players like ASAPP, and Cogito.
“Understanding conversations and the data and insights derived from them is essential to every business,” said Umesh Sachdev, CEO and co-founder, Uniphore. “Our conversational automation engine has been delivering powerful and innovative solutions to help enterprises not just survive but thrive amidst all the demands placed on them by customers,” Sachdev added.
In August 2019, the company raised $51 million (Rs 363 crore) in a Series C round led by March Capital Partners. Chiratae, Sistema Asia, CXO Fund, Iron Pillar and the Patni family.
This January, Uniphore announced the acquisition of Spanish video and emotion AI startup Emotion Research Lab.