Observe.AI, which provides artificial intelligence-powered agent enablement for voice customer service, has raised $26 million in Series-A financing led by Scale Venture Partners. The funding round, in which Nexus Venture Partners, Steadview Capital, 01 Advisors and Emergent Ventures also participated, will allow Observe.AI to expand its US-India team globally and accelerate product development. This round brings the company’s total funding to $34 million.
“Legacy speech analytics systems are simply not meeting the needs of the world’s top brands,” said Swapnil Jain, chief executive and co-founder, Observe.AI. “Today’s customer service agents have a unique ability to emotionally connect with customers and are often a brand’s only frontline representatives. This investment will fuel our mission to elevate agent performance through AI-based coaching and insights.”
Many support teams monitor just 1-2 per cent of calls and use three or more systems to access conversational insights and enable agents. Observe.AI uses speech and natural language processing, and deep learning technologies, to analyse 100 per cent of customer conversations and provide adaptive coaching. It completely automates parts of the quality assurance and compliance tracking processes and the platform becomes smarter with each call analysis.
"Observe.AI is already disrupting the $300-billion voice customer service market by rethinking how agents are coached and the way top brands provide personalised customer experiences,” said Andy Vitus, partner, Scale Venture Partners.
In the past 12 months, Observe.AI has signed 100 customers and formed partnerships with leading organisations like Microsoft, Talkdesk, and itelBPO. Some of the enterprises and emerging brands that use Observe.AI include TripAdvisor, Concentrix, ClearMe and Root Insurance. Thousands of global agents are coached with Observe.AI, which provides a detailed look at how top agents successfully structure calls so that those tactics could be replicated.
“Observe.AI is set to transform voice customer service for the AI era. We are delighted to have partnered with it from the early days of its journey,” said Nexus Managing Director Jishnu Bhattacharjee.