Nexus Venture Partners has led 8 million Series A round in an up and coming artificial intelligence startup called Observe.AI. The funding round also saw participation from the MGV, Liquid 2 Ventures, Hack VC and existing investors Emergent Ventures and Y Combinator.
Ram Gupta, managing director of Nexus Venture Partners, says, “Companies have been actively discouraging their customers to call their agents for the last two decades because of increasing costs even though it is a natural way for humans to get help. With the recent advances in deep learning and NLP, which will dramatically increase the productivity of agents, call centers are ready to become the first port of contact again for customer service.”
Founded in 2017 by Akash Singh, Sharath Keshava and CEO Swapnil Jain, Observe.AI provides an agent-first voice AI platform that aims to improve caller satisfaction in call centers by enabling support representatives to give real-time feedback on customer sentiment and guiding them on next best action during the customer call. The AI platform listens to the call stream in real-time using deep learning and natural language processing (NLP) to understand the context and generates suggestions and guidance for the agent.
Swapnil Jain, founder and CEO of Observe.AI, says, “We are using the power of AI to make that voice conversation even more delightful by equipping the customer support agent with the tools needed while the call is going on. The agent no longer needs to place customers on hold, or transfer them around; continuous engagement is established until a successful resolution is reached. Our agent-first approach is all about making the job of the agent easier which translates into better productivity and higher customer satisfaction.”
The company, which already boasts one of the largest call centers in the U.S. among its customers, recently partnered with Talkdesk to launch its voice AI platform for Talkdesk customers. Observe.AI intends to further deploy newly raised capital to improve its platform offerings for its clients worldwide.
Observe.AI is headquartered in the United States with India’s office in Bangalore where most of the technology development takes place for the company.