The funding will fuel Uniphore’s global expansion and product and core technology development plans. Uniphore’s solutions extend the power of speech to revolutionise human-machine interaction and allow any software application to understand and respond to natural human speech.
“This investment is a powerful endorsement of Uniphore’s ability to provide unique and measurable value to our enterprise customers across industries through speech recognition technology,” said Umesh Sachdev, Co-founder and CEO, Uniphore Software Systems.
He also said that these funds would be used to attract best of the talent the industry in high-tech niche.
Prior to this Series A round, Uniphore had received investment from IDG Ventures India, India Angel Network, Ray Stata, Co-Founder and Chairman of the Board of Analog Devices, Inc. and YourNest Angel Fund and also seed investment from IIT Madras’ Rural Technology and Business Incubator (RTBI), Villgro Innovations Foundation, and the National Research Development Corporation. Launched in 2008, Uniphore is also one of the Deloitte Technology Fast 50 company in India for the year 2014 and has been profitable from the second year of its operation.
Uniphore’s solutions include voice biometrics, virtual assistant and speech analytics that change the way enterprises engage their consumers, build loyalty and maintain healthy bottom-line.
“Continuing on my theme of backing inclusive innovations, I am optimistic of the success of Uniphore. Man-Machine communication is one of the more complex problems to solve. Uniphore’s vision lends possibility of finding a solution to this very difficult problem and the company has already made substantial progress,” said Kris Gopalakrishnan, Infosys co-founder and investor in Uniphore.