India-based speech recognition technology developer Uniphore Software has received $38m in a series C round that included conglomerate Sistema’s Asia Fund and energy utility National Grid, Hindu BusinessLine reported on Monday.
Venture capital firm March Capital Partners led the round, which was filled out by Chiratae Ventures, Patni Wealth Advisors, IntuitiveVC and the CXO Fund. National Grid took part in the funding through its corporate venturing arm, National Grid Partners (NGP).
Uniphore raised a combined total of $37.9m for the round over two tranches in June 2019, according to regulatory filings seen by the publication. It valued the company at approximately $130m.
Founded in 2008, Uniphore has developed software that is designed to help businesses improve the performance of their contact centre agents. The company’s products use artificial intelligence and natural language processing technology to automate tasks and analyse call statistics.
Uniphore collected an undisclosed amount of funding in a November 2017 series B round led by John Chambers, the former chairman of networking technology provider Cisco. Chiratae Ventures (then IDG Ventures India) and financial services firm IIFL also participated.
The company had received $2m in a 2016 bridge round led by IDG Ventures India and backed by Indian Angel Network and YourNest Angel Fund.
IDG Ventures India had already invested an undisclosed sum in Uniphore the year before, adding to an undisclosed amount from YourNest Angel Fund and angel investors Ray Stata, Nagaraja Prakasam and MV Subramanian.