SaaS-based voice customer service enabler Observe.Ai has raised $26 million in a Series A round led by Scale Venture Partners. The second external round for the Indo-US startup also saw participation from Nexus Venture Partners, Steadview Capital, 01 Advisors, and Emergent Ventures.
In August last year, the Y Combinator-backed company had raised $8 million in a round led by Nexus VP.
With the fresh capital, Observe.AI will expand its team globally and accelerate product development. As a part of the funding round, Andy Vitus, partner at Scale, will join the company’s board.
According to the firm’s press statement, this investment will fuel its mission to elevate agent performance through AI-based coaching and insights.
Following the investment, Observe.AI will work with Microsoft for Startups program. Now, Microsoft’s customers will be able to leverage Observe.AI’s platform through its Azure marketplace.
Observe.AI uses the latest speech, natural language processing, and deep learning technologies to analyze 100% of customer conversations and provide adaptive coaching, including completely automating some parts of the quality assurance and compliance tracking processes.
Renowned enterprises and emerging brands such as TripAdvisor, Concentrix, ClearMe, and Root Insurance use the cloud platform to augment their business. In the past 12 months, it has also roped in over 100 customers and formed partnerships with organizations like Microsoft, Talkdesk, ERCBPO, and itelBPO.
While Observe.Ai hasn’t revealed its current financial performance, the company expects a 4X increase in annual recurring revenue in 2020.
With $1 billion under management, lead investor Scale Venture Partners invests primarily in the Internet, cloud computing, software as a service, and mobile products. Based out of Silicon Valley Scale’s portfolio include Bill.com, Box, Cloudhealth, Pantheon, Demandbase, DocuSign, ExactTarget, HubSpot, JFrog, Lever, and WalkMe.