Total amount raised
$102.2 Millions
Latest funding date
8/1/2021
Location
Yellow.ai has successfully raised over $102 million across multiple funding rounds, with its most recent being a Series C round. The company is backed by notable investors, including WestBridge Capital and Salesforce Ventures.
Continue reading to delve into the details of Yellow.ai's funding journey and the strategic investors supporting this innovative conversational AI platform.
What Is Yellow.ai?
Yellow.ai, founded on January 22, 2016, in San Mateo, California, is a leading conversational AI platform. The company was established by Jaya Kishore Reddy Gollareddy, Raghu Ravinutala, and Rashid Khan.
Yellow.ai specializes in automating conversations across various channels using generative AI, providing personalized experiences for enterprises. Their platform is trusted by over 1000 enterprises in 85+ countries, including brands like Domino’s and Hyundai.
With a workforce of 501-1000 employees, Yellow.ai aims to deliver human-like interactions that enhance customer satisfaction and employee engagement through its no-code/low-code platform.
How Much Funding Has Yellow.ai Raised?
- Series C
- Amount Raised: $78.2M
- Date: August 2021
- Lead Investors: Salesforce Ventures, Sapphire Ventures, WestBridge Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support global expansion, hire top talent, and invest in applied R&D in hyper-automation.
- Series B
- Amount Raised: $20M
- Date: April 2020
- Lead Investors: Lightspeed Venture Partners
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale operations and enhance the platform's capabilities.
- Series A
- Amount Raised: $4M
- Date: June 2019
- Lead Investors: Lightspeed India Partners
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To develop the product and expand the customer base.
- Series A
- Amount Raised: Not publicly disclosed
- Date: March 2019
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further product development and market reach.
- Non-Equity Assistance
- Amount Raised: Not publicly disclosed
- Date: June 2016
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To kickstart the company's initial operations.
Total Amount Raised: $102.2M. Current Valuation: Not publicly disclosed.
Key Investors
- Salesforce Ventures
- Details: Salesforce Ventures is the investment arm of Salesforce, focusing on enterprise cloud companies. They aim to extend the power of the Salesforce platform through strategic investments.
- Investment Focus Areas: Enterprise software, cloud computing, AI.
- Notable Investments: Zoom, Dropbox, DocuSign.
- Sapphire Ventures
- Details: Sapphire Ventures is a venture capital firm that invests in growth-stage technology companies. They support companies that are transforming industries and driving innovation.
- Investment Focus Areas: Technology companies, enterprise software, AI.
- Notable Investments: LinkedIn, Box, Square.
- WestBridge Capital
- Details: WestBridge Capital is a leading investment firm focusing on investments in India and South Asia. They invest in high-growth companies across various sectors.
- Investment Focus Areas: Growth-stage companies, technology, consumer services.
- Notable Investments: Byju's, OYO, PolicyBazaar.
- Lightspeed Venture Partners
- Details: Lightspeed Venture Partners is a venture capital firm that invests in early and growth-stage companies. They focus on technology and innovation across various sectors.
- Investment Focus Areas: Early and growth-stage companies, technology, enterprise software.
- Notable Investments: Snapchat, Nest, GrubHub.
- Lightspeed India Partners
- Details: Lightspeed India Partners is a venture capital firm focusing on early-stage investments in India. They support companies that are driving technological and consumer innovation.
- Investment Focus Areas: Early-stage companies, technology, consumer services.
- Notable Investments: Udaan, ShareChat, OYO.
What's Next for Yellow.ai?
Yellow.ai stands at the cusp of significant growth opportunities, driven by the increasing adoption of AI and automation in customer service. With a robust platform that supports over 100 languages and serves more than 700 enterprises globally, the company is well-positioned to expand its operations into new markets, particularly in the U.S., India, Southeast Asia, UK, Middle East, and Latin America. The recent $78.15 million Series C funding round underscores the substantial financial backing available to fuel this expansion and invest in cutting-edge R&D in hyper-automation.
Future fundraising opportunities appear promising, given the involvement of prominent investors like WestBridge Capital, Sapphire Ventures, and Salesforce Ventures. These strategic partnerships not only provide financial support but also open doors for potential future rounds, including a possible Series D. However, Yellow.ai will need to navigate challenges such as intense competition in the CX automation space, the need for continuous innovation, and the complexities of scaling operations while maintaining service quality. As the company continues to grow, strategic acquisitions to enhance technology capabilities and market reach could also be on the horizon.
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