yellow.ai, a customer experience (CX) automation platform, has announced that it has raised $78.15M in Series C, led by WestBridge Capital along with Sapphire Ventures, and Salesforce Ventures. Lightspeed Venture Partners again participated in this round, which brings total funding raised so far to $102.15M.
Raghu Ravinutala, CEO and Co-Founder of yellow.ai said, “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.”
yellow.ai will strengthen its presence in over 50 countries including India, Southeast Asia, UK, Middle East, LatAm, and the U.S., adding 70 employees to its 500+ global headcount. With the fresh infusion of capital, yellow.ai will deepen investments in global expansion, hiring top talent across regions, and applied R&D in hyper-automation.
“What impressed us the most is the speed at which customers deployed yellow.ai for support automation and quickly scaled to commerce, HR, and other use-cases. This pattern is a testimony to the platform’s capability of creating an impact across the board thereby becoming a pivotal AI-partner,” added Sumir Chadha, Founder and Managing Partner of WestBridge Capital.
Jai Das, Co-founder, President, and Partner at Sapphire Ventures, said, “During a timewhen consumers expect personalization and everything on-demand, yellow.ai is pioneering CX Automation with a platform that not only addresses inbound customer support requests instantaneously but also enables businesses to proactively engage customers across any channel. We’ve looked at hundreds of customer service and experience platforms over the years, but what caught our eye about yellow.ai was their impressive technology and growth, achieving 4x year over year growth despite the pandemic. Sapphire is looking forward to this partnership, and to supporting yellow.ai’s mission to revolutionize customer experience with better service.”
Amy Wu, Partner at Lightspeed Venture Partners said, “yellow.ai continues to solidify their market leadership in Asia, the US, and beyond. As the team continues to show strong execution, we are bullish about the company’s continued momentum and ability to provide cutting edge AI solutions for their customers.”
“With its enterprise-grade platform battle-tested across several hundred deployments in the most active messaging market in the world, namely Asia, yellow.ai is now continuing its growth through global expansion to North America, Latin America, and Europe,” added Dev Khare, Partner, Lightspeed India Partners, a long-standing investor in yellow.ai.
Arya has been a part of the Content & Research Team at Hrnxt.com. She is a keen observer of economic developments, emerging businesses, people in business and keeps a tab on latest happenings in the business environment.