California based Observe.AI, the AI-based startup which is working on a voice based AI platform for call centers has bagged a fresh capital in Series A round. Nexus Venture Partners has led the $8 million funding round which saw participation from Monsanto Growth Ventures(MGV), Liquid 2 Ventures, Hack VC along with the existing investors Emergent Ventures and Y Combinator.
The firm helps call centers through their voice-based platform which uses AI technology to assist the workers of the call centers by helping them in their tasks such as auto-completing forms or pulling out data quickly. Akash Singh, Sharath Keshava and Swapnil Jain had started the company in May last year. The firm was selected for the 2018 winter batch of Y Combinator, the Silicon Valley based accelerator. The head office of Observe.AI is in Santa Clara while it has presence in Bangalore where a 9 employee tech team operates who handles the machine learning part of the product.
Jain commenting on the development said, “We are using the power of AI to make that voice conversation even more delightful by equipping the customer support agent with the tools needed while the call is going on. The agent no longer needs to place customers on hold, or transfer them around; continuous engagement is established until a successful resolution is reached. Our agent-first approach is all about making the job of the agent easier which translates into better productivity and higher customer satisfaction.”
Nexus Venture Partners' managing director Ram Gupta through a statement said, “Companies have been actively discouraging their customers to call their agents for the last two decades because of increasing costs even though it is a natural way for humans to get help. With the recent advances in deep learning and NLP, which will dramatically increase the productivity of agents, call centers are ready to become the first port of contact again for customer service. We are excited to partner with the team at Observe.AI as it leads this positive disruption in the call center ecosystem.”
Image Courtesy : ObserveAI