NEW YORK, May 16, 2024 /PRNewswire/ -- PolyAI, a leading
global provider of enterprise voice assistants, has raised
$50 million in a Series C round of
funding. The round is backed by new investors Hedosophia, Nvidia's
NVentures and Zendesk, with follow-on investments from Khosla
Ventures, Georgian, Point72 Ventures, Sands Capital and Passion
Capital. With this raise, PolyAI has now secured over $120 million in funding to continue redefining
what's possible with voice-first, AI-powered automation in
enterprise contact centers.
The company spun out of Cambridge
University's preeminent Machine Intelligence Lab in 2017,
and today serves close to 100 enterprise customers including FedEx,
PG&E, Caesars, Marriott, Unicredit and other Fortune 500
companies. In the past year, a PolyAI enterprise customer launched
one of the world's first voice assistants to be fully powered by
generative AI, now used by millions of consumers. With another
global brand, PolyAI released the world's most multilingual
enterprise assistant, speaking 12 languages. PolyAI has grown 10x
over the last two years, with US companies representing over 70% of
their revenue.
Customer sentiment runs high: "I was extremely impressed with
PolyAI's intuitive and natural conversational abilities and the
impact it will have on customer experience," said Pavan Kapur, who
partnered with PolyAI while Chief Commercial Officer at Caesars
Entertainment. "As a customer-obsessed leader, I am excited to see
PolyAI continue to innovate for businesses and customers
alike."
Reacting to the funding, PolyAI CEO and Co-Founder Nikola Mrkšić stated, "Anyone who has ever
picked up the phone to get support from their favorite brands has
experienced the frustration of dealing with bad customer service.
Our mission is to make every company the best version of itself in
every customer interaction. This raise is a testament to the work
we've put in to make that mission a reality." Of the company's
intention for the funds, Mrkšić stated: "We aim to be the voice
that handles - and handles well - over half of all automated
customer service calls within the next five years."
The up round indicates VCs are sharing this enthusiastic vision.
"We are experiencing a Cambrian explosion in AI that will impact
every industry," said Vinod Khosla,
founder of Khosla Ventures. "We bet early on PolyAI and the team as
a category creator for AI-powered, voice-based customer support,
and are thrilled to continue supporting them in making customer
service the top brand experience for any company."
In addition to logos named above, PolyAI's clients include
global titans in logistics, banking, hospitality, home services,
insurance, energy, retail, healthcare, manufacturing and telecoms,
as well as organizations in the public sector. To learn more about
PolyAI, please visit www.poly.ai.
About PolyAI :
PolyAI specializes in creating the most lifelike conversational
AI voice assistants in the world. With a focus on delivering
exceptional customer service, PolyAI serves a wide range of
high-call volume industries and is committed to revolutionizing the
ways customers interact with brands through advanced, remarkably
human voice AI solutions. PolyAI's performance has earned spots in
Forbes AI 50, Gartner Cool Vendors and Market Guide for
Conversational AI Solutions, as well as a Gold Stevie Award for
Contact Center Solutions in 2024. For more information, visit their
website at www.poly.ai.
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