PolyAI raises $50 million to power AI voice automation technology

Enterprise voice assistant startup PolyAI Ltd. today announced plans to expand and enhance its artificial intelligence-powered voice automation technology, scale operations, innovate multilingual support, improve customer experience, and expand its market presence. , announced that it has raised $50 million in new funding.

Founded in 2017 as a spin-off from the Machine Intelligence Institute at the University of Cambridge, PolyAI provides a machine learning platform for conversational enterprise voice assistants that engage in natural conversations with customers to solve problems. . PolyAI's voice assistant understands your customers, no matter what they say or how they say it.

PolyAI's platform is pre-trained on billions of customer interactions, eliminating the need for businesses to create custom AI training datasets, significantly reducing the effort required to use the platform. . The platform integrates AI technology to handle calls with a particular focus on call centers and voice-based customer service.

The company serves a wide range of high-call-volume industries and says it is committed to revolutionizing the way customers interact with brands through advanced and incredibly human-like voice AI solutions. There is.

“If you've ever picked up the phone to get support from your favorite brand, you've probably experienced the frustration of dealing with poor customer service,” says Nicola, CEO and Co-Founder of PolyAI Muksic explains. “Our mission is to make every company the best version of itself in every customer interaction.”

PolyAI has experienced strong growth, with revenue growing 10x over the past two years and now serves nearly 100 companies including FedEx Corporation, Pacific Gas & Electric Company, Caesars Entertainment Inc., Marriott International Inc., UniCredit SpA, and other Fortune companies. Serving corporate customers. 500 companies. Last year, one of PolyAI's enterprise customers reportedly launched his one of the world's first voice assistants fully powered by generative AI, which is now used by millions of consumers. Masu.

Hedosophia Group Ltd., Nvidia Corp.'s NVentures, and Zendesk Inc. led the Series C round, with participation also included Khosla Ventures LLC, Georgian Capital Partners Corp., Point72 Ventures LLC, Sands Capital Management LLC, and Passion Capital Investments LLP. Including the new round, PolyAI has raised $120 million to date, including a $40 million round in September 2022.

Commenting on the funding, Vinod Khosla, Founder of Khosla Ventures, said: A top brand experience for every company. ”

Image: Poly AI