Conversational AI Provider Uniphore Raises $51 Million in Funding
by Samra Anees
Uniphore, a conversational AI provider, just raised $51 million in a Series C round funding, hitting a new milestone in the conversational AI space. This blog explores Uniphore’s solutions and the consolidation of the conversational AI market.
Uniphore is Automating Conversational Services
Uniphore, started in India and now headquartered in Silicon Valley, is a conversational services provider that aims to reach better business outcomes through leveraging voice technology. Its products and services include voice analytics (also known as conversational analytics), conversational assistants, and conversational security.
Uniphore’s solutions cover the 3 largest use cases in voice analytics today: call analytics and conversational AI assistant for customer calls, and voice biometrics in security.
With this successful round of funding and its recent move to Palo Alto, California, Uniphore is set to keep pushing the consolidation of the conversational AI and voice analytics market with its automated customer service solutions.
The Consolidation of the Conversational AI Market
Just last week, Aragon published blogs on Vonage’s acquisition of conversational AI provider Over.ai, and Cisco’s acquisition of conversational AI provider Voicea. Enterprises are becoming increasingly interested in voice technology; by leveraging voice tools, enterprises can gain a better understanding of their customers more quickly, and in turn, provide them with a better experience. Automating some of these interactions also helps to speed up business processes and free up human agents for more complex interactions. With the combination of gaining deeper insights into customers’ needs and automating simpler processes, enterprises can work more efficiently as well as improve customer experience, leading to an increased customer loyalty and higher payback for enterprises.
Vonage and Cisco’s recent acquisitions along with Uniphore’s $51 million in funding prove that the conversational AI market is consolidating and it is doing so very quickly.
The race to automation is speeding up and the conversational AI market is solidifying itself in the enterprise. The root of this is enterprises’ need to have a better understanding of their customers and clients through conversations and conversational AI and voice analytics tools can help to achieve that. These deeper understandings enhance customer interactions so that they are more efficient, resulting in better customer experiences. Many companies are investing in conversational AI providers like Uniphore, and companies that don’t will fall behind in the sprint to automation.
Editor’s Note: Learn more about the voice analytics market, conversational AI, and the latest tools and technologies by reading our latest research, Emerging Technologies: The Rise of Voice Analytics.