Yellow.ai has raised $78.15M in Series C, led by WestBridge Capital along with Sapphire Ventures, and Salesforce Ventures, the customer experience (CX) automation platform announced on Aug 4. Lightspeed Venture Partners again participated in this round, which brings total funding raised so far to $102.15M.
Since its prior funding round, yellow.ai has grown 470% in recurring revenue and secured hundreds of new customers as the company brings automation to the $1.3T support sector and expands its prowess to automate end-to-end commerce, marketing, and HR, ITSM, the company said in a statement.
“With our rapid client and revenue expansion in Singapore and across the world, we’re geared to becoming the global leader in the CX Automation space and are bullish on building our product, partnerships, teams, and community to truly democratise AI in the near future,” said Raghu Ravinutala, CEO and Co-Founder of yellow.ai.
According to yellow.ai, it will strengthen its dominant leadership in over 50 countries including India, Southeast Asia, UK, Middle East, and LatAm, and establish a strong presence in the U.S., adding 70 employees to its over 500 global headcount. With the fresh infusion of capital, yellow.ai will deepen investments towards global expansion, hiring top talent across regions, and applied R&D in hyper-automation.
“What impressed us the most is the speed at which customers deployed yellow.ai for support automation and quickly scaled to commerce, HR, and other use-cases. This pattern is a testimony to the platform’s capability of creating an impact across the board thereby becoming a pivotal AI-partner” said Sumir Chadha, Founder and Managing Partner of WestBridge Capital.