Pune: Conversational AI platform Yellow Messenger has raised $20 million in Series B funding from Lightspeed Venture Partners and Lightspeed India Partners.
Yellow Messenger will use the funds to expand globally and strengthen its multi-lingual voice bot platform.
“This investment will help us scale operations to Europe, US and Latin America, and also deepen our technology platform,” said Raghu Ravinutala, CEO and co-founder, Yellow Messenger.
The company has been growing bookings 5x year-on-year since 2017 and currently works with 125 enterprise customers globally.
The company had raised $4 million from Lightspeed India Partners last year.
Yellow Messenger provides multi-lingual chatbots in 120 languages which enterprises can deploy across various customer and employee communication channels like Slack, Teams and WhatsApp.
The fresh capital will also be used to expand enterprise integrations and partnerships and to launch a developer marketplace for virtual assistants, said Ravinutala.
“We anticipate demand for the company’s platform to accelerate as consumer expectations of real-time conversations with their brands deepen,” said Amy Wu, Partner, Lightspeed Venture Partners.
The company currently processes 30 million conversations every month for customers like Accenture, Flipkart, MG Motors and Dominos India.
It also has go-to-market partnerships with Microsoft, TCS, WhatsApp and Facebook, among others.
“One in every three companies globally is implementing conversational AI and chatbots… we have seen how the company has taken advantage of this market pull with its rapid time-to-value, transactional platform and multi-language support for global rollouts,” said Dev Khare, Partner, Lightspeed India Partners.