Yellow.ai, a conversational AI platform based on the cognitive engagement cloud technology, announced a $20 million Series B investment taking the total investment to $24 million to date. The funding round was led by Lightspeed Venture Partners and Lightspeed India Partners, who also led the Series A funding in 2019.
One in every three companies globally is implementing conversational AI and chatbots — the pull is irreversible.
– Dev Khare, Partner, Lightspeed India Partners
Yellow.ai has over 120+ languages for voice and text support in its cognitive engagement cloud and thus, the fresh capital will be used to fuel its international expansion across the U.S., Europe, Latin America, and Asia-Pacific markets. In addition, the company will further invest in its product innovation roadmap, including the deepening of multi-lingual voice bot capabilities, expanding enterprise integrations, and launching a developer marketplace for virtual assistants.
Dev Khare, Partner, Lightspeed India Partners, said, “One in every three companies globally is implementing conversational AI and chatbots — the pull is irreversible. Yellow.ai has taken advantage of this market pull with its rapid time-to-value, transactional platform and multi-language support for global rollouts.”
The Cognitive Engagement Cloud
Any cognitive system leverages the core skills of our brain — think, read, learn, remember, reason, and pay attention to. The cognitive engagement cloud uses chatbots that deliberate these actions and react by interacting through text and voice mediums across channels in a natural human-like manner. It enables enterprises to automate and orchestrate workflows for customer and employee engagement with minimal human intervention.
The chatbots can be integrated and used across multiple communication channels like Microsoft Teams, Slack, WhatsApp, telephony, digital assistants and with the enterprise’s existing System of Record and System of Engagement. By acting as a single source of intelligence across all channels, and across customer and employee conversations, this platform ensures smart, consistent and coherent customer and employee experience.
On similar lines, the Yellow.ai platform is successfully powering around 30 million monthly conversations on chatbots, across more than 100 customers around the globe. Owing to this and the ongoing COVID-19 pandemic emergency in India, the company has also been appointed by the National Health Authority of India (NHAI) to provide chatbots to several state governments (Madhya Pradesh, Punjab, and Rajasthan), which will assist with citizen engagement over WhatsApp and Facebook Messenger. It has also deployed special chatbots for enterprises to deal with employee engagement, customer engagement, and ITSM automation, helping them drive business continuity.
