[Funding alert] Uniphore raises $400M in Series E, joins unicorn club with $2.5B valuation
Uniphore, a Chennai and California-based conversational automation startup, on Wednesday, announced it has raised $400 million in a Series E round of funding.
The round, which brings Uniphore’s total funding to more than half a billion ($610 million), is led by American venture capital (VC) firm NEA and raises the company’s valuation to $2.5 billion.
VC and growth equity firm March Capital and other existing investors along with new entities also chipped in.
As part of the deal, Hilarie Koplow-McAdams, Venture Partner, NEA, is joining Uniphore’s board of directors, according to a statement.
The new round of funding is Uniphore’s largest to date and will be used to extend Uniphore’s technology and market leadership with advancements in voice AI, computer vision and tonal emotion, as well as to expand its business operations globally, specifically in North America, Europe and Asia Pacific, the startup said in an official statement.
“Understanding conversations and the data and insights derived from them is essential to every business,” said Umesh Sachdev, CEO and co-founder, Uniphore.
“Our conversational automation engine has been delivering powerful and innovative solutions to help enterprises not just survive but thrive amidst all the demands placed on them by customers. It is an incredibly exciting time to be in this industry and at Uniphore, with a rapidly growing customer base and unparalleled talent joining our leadership team and board of directors. I am looking forward to working with businesses around the world to help drive their success in 2022,” Umesh added.
Founded in 2008 by Umesh Sachdev and Ravi Saraogi, Uniphore says it has built an automation platform that combines conversational AI, workflow automation, and RPA (Robotic Process Automation) with a business user-friendly-UX.
Bolstering the strength of its leadership team, the company recently appointed Balaji Raghavan as Chief Technology Officer, Andrew Dahlkemper as Chief People Officer, and Vinod Muthukrishnan as Senior Vice President, Developer Platforms.
In 2021, Uniphore announced two major acquisitions – Emotion Research Lab for added capabilities in emotion AI, and Jacada, for enhanced low-code/no-code capabilities. It also secured $140 million in a Series D round led by Sorenson Capital Partners last year.
"When we look at Uniphore’s technology and the great advances the company has made in the last few years, we are very excited about its future product roadmap and are thrilled to participate in this new round,” said Hilarie Koplow-McAdams, Venture Partner, NEA.
“As we continue to operate in an increasingly virtual work model, technologies like Uniphore’s are a necessity for organizations that want to unleash their competitive advantage and take their business to the next level,” Hilarie further added.