Conversational artificial intelligence firm Yellow Messenger raises $20 mn

Business Standard

Yellow Messenger, which provides enterprises such as Flipkart, Domino’s and MG Motor with artificial intelligence platforms to build rich conversational experiences for customers and employees, said it has raised a $20 million Series B investment. The funding round was led by Lightspeed Venture Partners and Lightspeed India Partners.

The fresh capital will help the company fuel international growth across the US, Europe, Latin America, and Asia-Pacific markets. In addition, the firm will invest further in its product innovation roadmap, including deepening multilingual voice bot capabilities, expanding enterprise integrations, and launching a developer marketplace for virtual assistants.

“We’ve seen huge demand for our conversational AI platform since the very beginning, achieving 5X growth in bookings, year over year, since 2017,” said Raghu Ravinutala, CEO and co-founder, Yellow Messenger. “With rapid advancements in voice tech, AI and multilingual capabilities, our product has consistently offered a truly scalable solution by delivering meaningful and measurable results to enterprises across the globe. This investment will help us scale our operations and speed track the R&D endeavours to service the surge in global demand for automation.”

Yellow Messenger enables enterprises to automate and orchestrate workflows for customer and employee engagement with minimal human intervention, utilizing chatbots across multiple communication channels such as Microsoft Teams, Slack and WhatsApp. The company’s chatbots are available in over 120 languages including Arabic, Hindi and Mandarin.

The Yellow Messenger platform is powering 30 million monthly conversations on chatbots, across more than 100 customers around the globe, including Accenture, Royal Enfield and Spencer’s Retail. The company has also forged deep go-to-market partnerships with large tech firms Microsoft, TCS and Facebook.

In response to Covid-19, Yellow Messenger, in partnership with Facebook Messenger, has been appointed by the National Health Authority of India to provide chatbots to several state governments including Madhya Pradesh, Punjab, and Rajasthan to assist with citizen engagement over WhatsApp and Facebook Messenger.

“In less than three years, Yellow Messenger has quickly established itself as a leader in conversational AI for the enterprise. We anticipate demand

Source

Leave a comment