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IITM incubated company Uniphore turns unicorn with a valuation of $2.5 billion.

IITM incubated company Uniphore turns unicorn with a valuation of $2.5 billion.

Uniphore Technologies, a start-up that builds conversational automation tools for enterprises, on Wednesday raised $400 million in its Series E funding round from New Enterprise Associates (NEA), March Capital and other existing investors. The new round values Uniphore at $2.5 billion, making it the latest start-up to breach the unicorn status. Uniphore, which was founded in 2008 by Umesh Sachdev and Ravi Saraogi, has raised close to $610 million in funding to date.

This funding round is Uniphore’s largest to date and will be used to extend its technology, especially 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 market for automating enterprise conversations has rapidly accelerated in the past few years especially for acquiring consumer feedback and for post-sale services.

As a result, many businesses have turned to artificial intelligence and automation to create smooth and frictionless customer experiences, and Uniphore has been at the forefront.

Chennai and Palo Alto-based Uniphore currently offers a suite of tools under its conversational automation platforms that combines conversational AI, workflow automation, and RPA (Robotic Process Automation) with a user-friendly UX.

“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. At Uniphore, with a rapidly growing customer base and unparalleled talent joining our leadership team and board of directors,” said Umesh Sachdev, CEO and co-founder, Uniphore, in a statement.

Along with funding, Uniphore also appointed Hilarie Koplow-McAdams, Venture Partner, NEA, to its board of directors. Koplow-McAdams is a seasoned enterprise software and services executive who brings more than three decades of experience for both growth-stage and established companies. Bolstering the strength of its leadership team, the comapny also recently appointed Balaji Raghavan as chief technology officer,?Andrew Dahlkemper as chief people officer, and Vinod Muthukrishnan as?senior vice president, Developer Platforms.

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