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Fresh financing to feed the rush for customer and employee engagement automation, globally

Published: April 16, 2020
Updated: September 17, 2023
Fresh financing to feed the rush for customer and employee engagement automation, globally

Over the last 3 years, we’ve seen a 5X growth, year-on-year, in bookings. Every month, our platform hosts 30 million conversations. And in March 2020, the volume of conversations grew by 50%. Last quarter was also the biggest quarter for us in terms of new logos onboarded and ARR booked.

All of this points to one direction – there is a huge surge in demand for automation, globally.

And it’s our time to scale.
I’m proud to announce that Yellow.ai has raised $20M in Series B from Lightspeed venture partners and Lightspeed India partners to fuel global expansion of our conversational AI platform enabling global enterprises to automate their customer and employee engagement.

You can read the full press release, or check out the coverage in TechCrunchTechInAsiaMintEconomic Times and Entrepreneur.

We believe messaging and voice platforms are the new browsers. With messaging platforms like WhatsApp, Microsoft Teams and digital voice assistants like Google Assistant and Alexa taking over digital channels, enterprise engagement with customers and employees will be managed by cognitive agents to drive individualized customer and employee experiences.

The deep interlinking of conversations between employees, customers, and the various backend Systems of Record and Systems of Engagement, is complex, to say the least. And to combat that, we have developed a cognitive engagement cloud that drives automated engagement seamlessly across messaging and voice channels, across 100+ languages and dialects, with deep integrations with enterprise data and systems.

We’re deeply thankful for all the clients who have been with us through the journey, sharing their challenges; helping us solve for it through automation, one feature at a time. We’ve been able to deliver higher revenue, cost savings, more productivity. How?

AI – Built in India, for the world: 

Globally, there are 1500+ companies engaged in building chatbots and helping enterprises automate their business processes. However, there is no major leader. Being a company born in India, where conversations are diverse and lingos innumerable; we’ve been able to build our product, platform and NLP engine so strong, that international markets are straightforward to build for.

Emerging markets like India have seen a huge growth in internet users.  The first and probably the only App they use is a messaging app. The challenge of delivering digital services to this large user base completely depends on how enterprises provide their services, market and assist their customers on these messaging apps and Yellow.ai is playing a pivotal role here using conversational AI. This requires us to handle massive scale, challenging dialects (Hinglish, Singlish, Bahasa, Hindi, etc) pushing the boundaries of natural language processing. Handling this complexity early in our evolution is helping us win globally and partner with some of the leading fortune 500 companies. This combined with the ever-increasing ambition of Indian technology talent, we believe Yellow.ai is positioned to build the leading conversational AI company globally. 

Focused on value generation 

We are a company which derives value out of generating value for our customers. Automation is of little victory worthiness if it doesn’t change the metrics that matter. 

We’re proud to generate value for:

  1. A leading US oil and gas company that automated its internal processes in 80+ countries across 10 different languages. Resulting in minimizing the time taken to service requests by a whopping 177 minutes per request. And thereby leading to a 30% increase in employee productivity
  2. A multi-billion-dollar lending company that achieved $10 M in sales within 6 months of deployment of a Customer Support bot which is an expert at understanding the context and upselling
  3. A leading Asian electronics company to generate $8 M worth of leads via an Ad-tech WhatsApp Chatbot

We’re as kicked about driving ROI numbers as you are.

Building for the future

Enterprise challenges of today will become the solutions they seek tomorrow. As a team, we spend 900 hours and growing every week, speaking to our customers and prospects, trying to understand their challenges and their enterprise’s demands. 

In 2017 we began building features to help enterprises in the next month. Today, we’re going a step further and predicting what enterprises will demand in the next six months, one year and five years, as we are determined to be their perennial partners. And that changes everything. We’re no more reacting but responding. We’re working on deepening the multilingual voice bot capabilities, expanding enterprise integrations, and launching a virtual assistant marketplace for the developer community.

Investing in R&D

Conversational AI is still in its infancy. The technology is going to become a lot more powerful in the years to come. And we strongly believe that, as we’re investing a lot of our time in anticipating what the market will demand, verifying it with our customers, consulting partner Gartner and our investors. By constantly building and re-building AI models that are adept at humanizing conversations. Building chatbots that are able to understand, deliberate, interact and learn on the go.

Hiring the best

With the world becoming smaller and the impact becoming larger, there is a unique opportunity for each one of us to do something meaningful and leave behind an impact. We believe in hiring intelligent minds and leaving them free to fail cheap, fail fast and learn always. We hire those who believe they’re here to shape the world to be more simple, smart and sustainable. Currently, we have our team presence in the US, Brazil, Indonesia, Malaysia, and India.

I’d also like to thank each one of our team members for bringing to work the solution mindset. 

Ain’t no mountain high. Ain’t no valley low. Ain’t no river wide enough. Onwards and upwards!

Want to automate your business processes, Schedule demo with conversational ai experts. 

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