Observe.AI has raised $125 million in a Series C funding round. The round was led by SoftBank Vision Fund 2, along with Zoom.
The latest round of investment brings the San Francisco-based tech startup to the total amount raised to $213 million. Some existing investors that took part in the round were Menlo Ventures, Scale Venture Partners, and Nexus Venture Partners.
Observe.AI was founded by Akash Singh, Sharath Keshava, and Swapnil Jain in May 2017. Observe.AI utilizes artificial intelligence to transform contact centers. It embeds AI into various things like-
The fresh capital funding will be utilized in many ways like:
Previously, in September 2020, the company had raised $54 million in a Series B round which was led by Menlo Ventures.
Observe.AI claimed that it had recorded 150 percent growth in its Annual Recurring Revenue (ARR). The customer base of $100,000 grew by 125 percent.
In the list of Observe.AI’s customers, we saw ResMed, Pearson, 23andMe, Accolade, Group 1 Automotive, and Southeast Trans.
Swapnil, Co-founder and CEO, said, “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 on the evolving needs at the intersection of AI and CX.”
“Observe.AI has a transformative vision to deliver actionable and trustworthy AI that empowers digital-first businesses to create exceptional customer experiences,” said Priya Saiprasad, Partner at SoftBank Investment Advisers.
“We believe the company has built an intelligent, flexible platform with endless use cases, from healthcare companies seeking to enhance patient experience through to financial institutions aiming to boost revenue,” she added.