US-based voice automation start-up Uniphore has raised $400 million in its latest funding round that values the company at $2.5 billion, it said, as demand for artificial intelligence solutions grow worldwide.
Led by the US-based venture capital fund NEA, the round brings Uniphore’s total funding to $610m.
Existing investors, including California-based March Capital, and some new entities have participated in the latest round, the start-up said.
When we look at Uniphore’s technology and the great advances the company has made in the last few years, we are very excited about its future product roadmap
Hilarie Koplow-McAdams,
venture partner at NEA
The company said it would use the new funds to advance its technology and “market leadership with advancements in voice AI, computer vision and tonal emotion”.
The funds will also help Uniphore to expand its business operations globally, specifically in North America, Europe and Asia Pacific.
“Understanding conversations and the data and insights derived from them is essential to every business,” said Umesh Sachdev, chief executive and co-founder.
“Our conversational automation engine has been delivering powerful and innovative solutions to help enterprises not just survive but thrive amid all the demands placed on them by customers. It is an incredibly exciting time to be in this industry.”
Founded in California in 2008, Uniphore says it is helping businesses disrupt an outdated customer service model by focusing on conversations. It offers conversational service automation technology using AI and machine learning to its clients.
Its specialities include speech recognition, voice biometrics, digital assistance, customer experience, speech analysis, conversational automation and data analytics.
The market for automating enterprise conversations has rapidly accelerated in the past few years as companies recognise the impact of positive customer interactions on their brand image and loyalty. As a result, many businesses have turned to AI and automation to create smoother customer experiences.
The global voice recognition market is predicted to reach $27.2bn by 2026, growing at a compound annual growth rate of 16.8 per cent from $10.7bn in 2020, according to Statista.
“When we look at Uniphore’s technology and the great advances the company has made in the last few years, we are very excited about its future product road map and are thrilled to participate in this new round,” Hilarie Koplow-McAdams, venture partner at NEA, said.
“As we continue to operate in an increasingly virtual work model, technologies like Uniphore’s are a necessity for organisations that want to unleash their competitive advantage and take their business to the next level.”
UK%20-%20UAE%20Trade
%3Cp%3ETotal%20trade%20in%20goods%20and%20services%20(exports%20plus%20imports)%20between%20the%20UK%20and%20the%20UAE%20in%202022%20was%20%C2%A321.6%20billion%20(Dh98%20billion).%C2%A0%3C%2Fp%3E%0A%3Cp%3E%3C%2Fp%3E%0A%3Cp%3EThis%20is%20an%20increase%20of%2063.0%20per%20cent%20or%20%C2%A38.3%20billion%20in%20current%20prices%20from%20the%20four%20quarters%20to%20the%20end%20of%202021.%3C%2Fp%3E%0A%3Cp%3E%C2%A0%3C%2Fp%3E%0A%3Cp%3EThe%20UAE%20was%20the%20UK%E2%80%99s%2019th%20largest%20trading%20partner%20in%20the%20four%20quarters%20to%20the%20end%20of%20Q4%202022%20accounting%20for%201.3%20per%20cent%20of%20total%20UK%20trade.%3C%2Fp%3E%0A
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A widely accepted definition was made by the All Party Parliamentary Group on British Muslims in 2019: “Islamophobia is rooted in racism and is a type of racism that targets expressions of Muslimness or perceived Muslimness.” It further defines it as “inciting hatred or violence against Muslims”.
It’ll be summer in the city as car show tries to move with the times
If 2008 was the year that rocked Detroit, 2019 will be when Motor City gives its annual car extravaganza a revamp that aims to move with the times.
A major change is that this week's North American International Auto Show will be the last to be held in January, after which the event will switch to June.
The new date, organisers said, will allow exhibitors to move vehicles and activities outside the Cobo Center's halls and into other city venues, unencumbered by cold January weather, exemplified this week by snow and ice.
In a market in which trends can easily be outpaced beyond one event, the need to do so was probably exacerbated by the decision of Germany's big three carmakers – BMW, Mercedes-Benz and Audi – to skip the auto show this year.
The show has long allowed car enthusiasts to sit behind the wheel of the latest models at the start of the calendar year but a more fluid car market in an online world has made sales less seasonal.
Similarly, everyday technology seems to be catching up on those whose job it is to get behind microphones and try and tempt the visiting public into making a purchase.
Although sparkly announcers clasp iPads and outline the technical gadgetry hidden beneath bonnets, people's obsession with their own smartphones often appeared to offer a more tempting distraction.
“It's maddening,” said one such worker at Nissan's stand.
The absence of some pizzazz, as well as top marques, was also noted by patrons.
“It looks like there are a few less cars this year,” one annual attendee said of this year's exhibitors.
“I can't help but think it's easier to stay at home than to brave the snow and come here.”
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MATCH INFO
FA Cup fifth round
Chelsea v Manchester United, Monday, 11.30pm (UAE), BeIN Sports
Predictions
Predicted winners for final round of games before play-offs:
- Friday: Delhi v Chennai - Chennai
- Saturday: Rajasthan v Bangalore - Bangalore
- Saturday: Hyderabad v Kolkata - Hyderabad
- Sunday: Delhi v Mumbai - Mumbai
- Sunday - Chennai v Punjab - Chennai
Final top-four (who will make play-offs): Chennai, Hyderabad, Mumbai and Bangalore
