Yellow.ai, conversational AI raises $78 million in Series C
By MYBRANDBOOK
Yellow.ai, formerly known as Yellow Messenger, a conversational AI platform, founded in 2016 by Raghu Ravinutala, Rashid Khan and Jaya Kishore Reddy has recently able to raise $78.15 million in Series C funding round.
The fund is led by investors such as WestBridge Capital, Sapphire Ventures, and Salesforce Ventures, this round of funding came right after its Series B funding round of $24 million in April 2020. To date, the company has raised total funds of $102.15 million.
Yellow.ai is a CX automation platform that offers an omnichannel conversational AI tool to automate and enhance customer experiences for enterprises.
Yellow.ai, with this fresh funding, aims to strengthen its leadership positions in 50+ countries, including India, Southeast Asia, UK, Middle East, Latin America, and the US. The company is also planning to use its recent funding to hire top talents across regions and enhance its R&D applications in hyper-automation.
Raghu Ravinutala, CEO and Co-Founder at yellow.ai, stated, 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 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.
It has the portfolio of customers including Sephora, MG Motors, Amazon, Bharat Petroleum, and FoodPanda, Yellow.ai has been working on chat and voice-based bots available in 100-plus languages and across 35-plus channels like web, Whatsapp, Instagram, in-app, IVR and contact centre.
The company enables automated customer support, customer engagement, conversational commerce, employee experience and more.
yellow.ai’s management noted that they intend to strengthen their position in over 50 nations such as India, Southeast Asia, UK, Middle East, and LatAm, and establish a solid presence in the US, “adding 70 employees to its 500+ global headcount.”
With the capital injection, yellow.ai aims to increase investments in its international expansion efforts, “hiring top talent across regions, and applied R&D in hyper-automation.
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