San Francisco-headquartered, intelligent workforce startup Observe.AI raised USD 125 million as a part of its Series C funding. The round took place on April 12, 2022. Softbank Vision Fund 2 led the Series C round for Observe.ai.
Meanwhile, the video conferencing platform Zoom also invested in the company. The round also saw participation from its existing investors Menlo Ventures, Scale Venture Partners, and Nexus Venture Partners.
Purpose of Funding for Observe.ai
With the newly raised capital, the company plans to expand its Intelligent Workforce Platform across the international markets. Observe.ai will also invest in research and development functions. Besides, the Saas platform seeks to scale the go-to-market team, including the direct and channel-based motions.
The company will accelerate its time frame to propose its initial public offering (IPO).
Earlier in September 2020, Observe.ai raised USD 54 million in a Series B round led by Menlo Ventures. So far, the company’s total funding to date is USD 213 million.
What the founder has to say
“This fresh round of funding is further validation.Observe.AI is uniquely positioned with our industry-leading product innovations and offerings, robust services expertise and partner ecosystem, and intimate understanding of and execution of the evolving needs at the intersection of AI and CX,” said Swapnil Jain, CEO and co-founder at Observe.ai.
He further added, “We are also investing in our world-class R&D function to increase our leadership position in actionable, reliable, and purpose-built AI for the contact centre. Our Series C funding comes on the heels of immense momentum. In the last year, we drove 150 per cent ARR growth. The volume of analyzed customer interactions through Observe.AI increased 3x. We also grew our enterprise customer base by 40 per cent and saw a 40 per cent increase in revenue post-implementation. And we innovated our platform while expanding our global team.”
Swapnil Jain took to Twitter to announce the funding news.
“This round is a testament to our mission to make every contact centre AI-empowered and the world-class flawless execution of that mission over the last four years. Extremely grateful to the 250+ Observians who have worked very hard to make this mission a reality, 200+ enterprises who trusted us in their AI transformation journey and existing investors who continue to support Observe.AI with extreme enthusiasm!” Swapnil Jain, the co-founder and CEO of Observe.ai, tweeted in a series of tweets.
What the investor has to say
“Observe.AI has a transformative vision to deliver actionable and trustworthy AI that empowers digital-first businesses to create exceptional customer experiences. We believe the company has built an intelligent, flexible platform with endless use cases, from healthcare companies seeking to enhance the patient experience to financial institutions aiming to boost revenue,” said Priya Saiprasad, Partner at SoftBank Investment Advisers.
For more extensive analysis and Market Intelligence reports, feel free to approach us.
We try our best to fact-check and bring well-researched as well as non-plagiarized content to you. Please let us know
if there are any discrepancies in any of our published stories,
-how we can improve,
-what stories you would like us to cover
–what information you are looking for, in the comments section below or through our contact form! We look forward to your feedback, and thank you for stopping by!
Next Article
