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The power of AI cannot be underestimated in today's times. We are living in a world where almost everything is automated through a wide range of AI and other automation tools and technologies.
The introduction of conversational automation is invented to automate customer services and other mundane tasks to deliver a quality service experience. The most special feature of conversational automation is that it automates both conversations and processes.
Uniphore - Company Highlights
- Startup Name-Uniphore
- Headquarters-Chennai, Tamil Nadu, India and Palo Alto, California, USA
- Sector-AI, Saas, Conversational Automation
- Founder-Umesh Sachdev, Ravi Saraogi
- Founded-2008
- Revenue-$88.1 million
- Valuation-$2.5 billion
- Website-uniphore.com
Uniphore - About and How Does It Work?
- Uniphore is a conversational AI platform meant to deliver conversational analytics, conversational assistants, and conversational security to support enterprises in having transformational customer service experiences. Its solutions assist up to 75,000 customer support representatives during about 160 million monthly interactions. With the trinity of voice AI, computer vision, and tonal emotion, the company is transforming communications.
- Uniphore is also engaged in offering AI solutions in the areas of Emotional Intelligence to help enterprises resolve disagreements with the help of Emotional AI technology. In addition, it provides Knowledge AI, which is a platform combined with advanced conversational AI technologies to offer all the updated information needed by customers, without them struggling to go through irrelevant information.
- Uniphore also provides Real-Time Coaching Agent. It is a new method to empower companies' customer service agents to be successful, allowing them to be more productive and efficient, faster, reduce their stress and anxiety, and improving not just their own but also their customers' experiences.
- Uniphore has dual headquarters in Palo Alto, California, USA and Chennai, India with several other offices in countries like Singapore, Japan, Spain, and Israel.
Uniphore - Industry
- There is no denying that the technology industry, especially AI and automation is increasing at a rapid rate. The worldwide conversational AI market is expected to develop at a compound annual growth rate (CAGR) of 21.8% from $6.8 billion in 2021 to $18.4 billion by 2026.
Uniphore - Founders and Team
Umesh Sachdev and Ravi Saraogi are the founders of Uniphore.
Umesh Sachdev
- A modern-day entrepreneur, Umesh Sachdev is the co-founder and CEO of Uniphore. As a young dynamic leader with a pedigree from IITM, Umesh's unwavering commitment to new technologies has earned him global recognition as the only Indian to be named one of Time Magazine's 10 "Next Generation Leaders" in 2016, in addition to being a winner of the India Edition of MIT Tech Review 'Innovators Under 35' and a Ted Talk speaker. He attended Jaypee Institute of Information Technology and RK Puram Delhi Public School. Umesh was recognised as a creative entrepreneur by the Ministry of Science and Technology's Technopreneur Promotion Programme (TePP) in 2009.
Ravi Saraogi
- Ravi Saraogi is the co-founder of Uniphore and is also the President of Asia Pacific for Uniphore Software Systems. His main responsibility revolves around cultivating recruits for deep technology and other automation solutions in the company. Ravi is presently a member of the Mobile Payment Forum of India (MPFI), where he finds and develops mobile payment business prospects. He holds a Bachelor's degree in Information Technology from the Jaypee University of Information Technology.
Uniphore - Startup Story
- Uniphore was founded in 2008 and incubated at the Indian Institute of Technology Madras. In the initial days, the company mainly focused on the development of AI solutions, especially on contact centres or call centres, the main medium used by big enterprises such as airlines and banks to manage customer service. During the process, the founders realised that the power of vernacular speech is not given much attention in human communication. In India, many people are more comfortable talking in their local language. This factor gave them the idea to introduce speech recognition in Indian languages.
- After a few years, things changed in 2017 for Uniphore, when Umesh Sachdev pitched his firm and ideas at an MIT event in New Delhi. John Chambers, one of the most notable guests present, heard his pitch. Through Chambers's guidance, Sachdev decided to move the base operations of Uniphore, the call centres-based AI startup to the USA.
- The very renowned, John Thomas Chambers, the former CEO and chairman of Cisco Systems, acquired a 10% stake in Uniphore in 2017 at a $30 million valuation.
Uniphore - Name, Tagline, and Logo
- Uniphore's logo is simple yet super elegant. Its logo shows a colour transition from orange to pink which makes for an attractive colour gradient.
Uniphore - Mission and Vision
- The vision of Uniphore says, " Be the defining conversational AI and automation platform to realize the value of every enterprise conversation."
- Our mission: Give each customer a voice. Why? Because #customerservice is broken.
Uniphore - Business Model
- Uniphore operates on a B2B software as a service-based subscription fee model. Previously, it had a license fee-based income model. The business of Uniphore mainly operates by offering four core services: U-Analyze, U-Self-Serve, U-Trust, and U-Assist. According to the company, its purpose is to augment, not replace the efforts of call centre employees. The company operates on two core technologies - speech recognition & voice biometrics.
Looking briefly at the main services provided by Uniphore:
U-Analyze
- U-Analyze, previously known as auMina is Uniphore's speech analytics software that assists enterprises in identifying customer problems by studying consumer dynamics and call centre interactions using natural language processing. It monitors agents' in-call movements and optimises training programmes using artificial intelligence and data analysis.
U-Trust
- U-Trust by Uniphore is a speech biometrics software that allows users to validate their identity when working remotely by using their voice. Clients can authenticate and monitor agents with the help of voice biometrics.
U-Self Serve
- Uniphore also has voice response software knowns as U-Self Serve previously known as Akeira. It is a voice recognition software and virtual assistant that help firms automate customer support.
U-Assist
- U-Assist by Uniphore employs deep learning AI models to give real-time help, such as transcriptions and notifications during conversations. It also aids in the automation of dispositions and other post-call tasks.
- Uniphore offers these conversation automation solutions to sectors like Banking, BPO, Telecom, and Healthcare.
- There are reports that international banking groups in more than 60 countries have been said to have reduced the stress of compliance auditing by 50% by using Uniphore's interaction analytics software.
Uniphore - Revenue Model
- The company typically generates revenue by offering automation software to various clients in Banking, BPO, Telecom, and Healthcare. Uniphore has made a revenue of Rs $88.1 million with over 150K customers in 2022.
Uniphore - Funding and Investors
- Uniphore has received $620.9 million in investment through eight rounds. Their most recent fundraising came in the form of a Series E round on February 16, 2022, which made the company a unicorn startup in India, raising its valuation to $2.5 billion. Uniphore is backed by a group of 22 investors. The most recent investors are GoldenArc Capital and March Capital.
Uniphore - Awards and Achievements
- Uniphore has won the award in the Innovation in Data Science Category for their U-Analyse product at the 9th edition of the Aegis Graham Bell Award 2019.
- Uniphore has been awarded the 2021 Frost & Sullivan Global Technology Innovation Leadership Award in Conversational Automation.
- It was awarded the best product company in the Analytics Solutions category for 2018 at the 6th edition of Express IT Awards.
Uniphore - Competitors
Uniphore has the following competitors:
- AISERA
- ZoomInfo
- Relish AI
- Emotibot
- Conversica
- Interactions
- HelloMyBot
- Cresta
- Satisfi
- Acobot
- Replicant
- Mindsay
- Dialogflow
- Gupshup
Uniphore - Future Plans
- After reaching a valuation of $2.5 billion, Uniphore has plans to expand its horizon with customer needs through its Emotion AI platform and seeks to have more refined existing products. The company wants to rebuild its products to improve its customer's expectations. It has a full-fledged plan to improve the inventions in its Emotion AI platform.
FAQs
How does Uniphore work?
- Uniphore is a conversational AI platform meant to deliver conversational analytics, conversational assistants, and conversational security to support enterprises in having transformational customer service experiences.
What is conversational AI?
- Conversational AI is a kind of artificial intelligence. It simply allows people to interact with computer applications in the same way as they would interact with humans.
Is Uniphore a unicorn?
- Uniphore is a unicorn startup in India. The startup raised $400 million in a Series E round of funding, raising its valuation to $2.5 billion in February 2022.
Is Uniphore an Indian company?
- Uniphore is an Indian company, founded by Umesh Sachdev and Ravi Saraogi with dual headquarters in Chennai, Tamil Nadu, India and Palo Alto, California, USA.
