Conversational tech startup Uniphore secures $38 million in series C round

Uniphore, a speech recognition startup, based out of Chennai, has secured $38 million (approx ₹260 crore) in fresh funding led by March Capital Partners. The Series C funding round also saw National Grid Partners, Sistema Asia Fund and Patni Wealth Advisors, among others participate in the round along with existing investor Chiratae Ventures.

“As a rapidly growing startup, we are seeing an increase in interest from potential customers, employees and investors who see the value our organization is bringing to this market,” a spokesperson from Uniphore added.

Uniphore, headquartered in Chennai, was founded by Ravi Saraogi, Umesh Sachdev. It is a conversational AI technology company that sells software for conversational analytics, conversational assistant and conversational security.

According to regulatory documents, Uniphore raised a total of $37.9 million as part of its Series C investment in two tranches on June 5 and June 24.

Furthermore, Uniphore was the first company outside of the US that raised funding from former executive chairman of Cisco John Chambers in November 2017.

Last year, Uniphore claimed it had achieved a $100 million valuation and was closing in on a $20 million annual revenue.

Besides, some of the leading players in the speech recognition startup includes Bay Talkitec, Voxta, Speechpro, Nuance, Aware, etc.