Ushur, an AI-powered customer experience automation platform, has raised $50m in Series C funding.
The round was led by Third Point Ventures with participation from existing investors Iron Pillar, 8VC, Aflac Ventures and Pentland Ventures.
Ushur’s platform is purpose-built from the ground up to intelligently automate entire customer journeys end to end.
The enterprise-ready platform uses conversational AI, language intelligence and document understanding to deliver industry-specific, hyper-personalised customer experience solutions.
The company raised an additional $5m to its Series B funding round back in 2021.
Half of Ushur’s customers are Fortune 500 companies including globally recognised brand names such as Aflac, Cigna, CVS, Irish Life, United Healthcare and Unum Group.
According to Ushur, these enterprises have improved customer engagement rates as much as 85%, reduced email triage times from five days down to five minutes and slashed customer issue resolution times by as much as 90%.
In the last 12 months, Ushur has tripled its headcount, doubled its customer base and achieved a Net Revenue Retention (NRR) of 164% as enterprises have moved toward AI-driven automation solutions purpose-built for end-to-end customer engagement applications. This is an area where back-office automation technologies, such as Robotic Process Automation (RPA), continue to struggle to deliver business value.
Ushur plans to use the fresh funding to expand its experience automation portfolio, develope new innovations in AI such as Large Language Models (LLMs) and Generative AI, and move into new regions and industry verticals.
Simha Sadasiva, CEO and cofounder, Ushur, said, “The previous generation of enterprise automation was designed for infrastructure processes. We built Ushur’s AI platform with a different goal in mind: to provide excellent customer experiences at scale and to deliver meaningful interactions that put the customer’s needs at the center.
“Enterprises have a massive appetite for modernizing the customer experience to maintain their market position. When combined with automation, this unlocks tremendous financial value. Ushur’s CXA cloud delivers on both of these promises. Our success is a direct result of the value created for the enterprise with a focus on the customer experience, which continues to shape our technology, our strategy and our culture.”
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