– USA, CA – Observe.ai, the California-based AI startup, has raised $26 million as part of its Series A round led by Scale Venture Partners, with participation from Nexus Venture Partners, Steadview Capital, 01 Advisors, and Emergent Ventures. The startup had raised $8 million in its pre-series A round in August last year.
Besides the funding, Andy Vitus, Partner at Scale Ventures, will join the board of Observe.ai.
This latest funding will allow Observe.ai to expand its US-India team globally and accelerate product development.
Founded in May 2017 by Akash Singh, Sharath Keshava, and Swapnil Jain, Observe.ai empowers call center agents to do their jobs better. Its voice AI platform provides the agent with real-time feedback on customer sentiment and guides them on the next best action during a customer call.
Andy Vitus, Partner at Scale Venture Partners said: “Observe.AI is already disrupting the $300 billion voice customer service market by rethinking how agents are coached and the way top brands provide personalized customer experiences.”
The AI platform listens to the call stream in real-time, uses deep learning and natural language processing to understand the context and generates suggestions and guidance for the agent. Though headquartered in California, Observe.ai has an office in Bengaluru.
Swapnil Jain, CEO and Co-founder of Observe.ai, said: “Legacy speech analytics systems are simply not meeting the needs of the world’s top brands. Today’s customer service agents have a unique ability to emotionally connect with customers and are often a brand’s only frontline representatives. This investment will fuel our mission to elevate agent performance through AI-based coaching and insights.”
The pre-series A round, which was led by Nexus Venture Partners, saw participation from MGV, Liquid 2 Ventures, and Hack VC. After graduating out of Y-Combinator, the startup raised seed funding of $1 million and $120,000 from Emergent Ventures and Y-Combinator respectively.
Observe.ai claims to be using the latest speech, natural language processing, and deep learning technologies to analyze 100 percent of customer conversations and provide adaptive coaching, including completely automating some parts of the quality assurance and compliance tracking processes. The platform becomes smarter with each call analysis.
For more information: https://www.observe.ai
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