This funding will help Yellow.ai recruit talent from across the globe. Here are the top-line bullets you need to know.
Yellow.ai, a conversational AI provider, has raised $78.2M in a Series C. The round saw participation from Salesforce Ventures, WestBridge Capital, and Lightspeed Venture Partners, among others.
How’s the company performing?
- California-based Yellow.ai uses its NLP engine and platform to create chatbots to automate customer support and engagement. The platform supports 100+ languages and is available in over 35+ channels. Enterprise apps like Salesforce, Shopify, Cisco, Shopify, Avaya, SharePoint, and more are pre-integrated with the platform.
- Amazon, Biogen, and Sephora are among some of Yellow.ai’s clientele.
- The company’s revenue quadrupled compared to last year, with India-based clients contributing around 60%.
Why does the market matter?
- The conversational AI market is projected to reach a value of $13.9B by 2025 at a CAGR of 21.9%, according to Markets and Markets.
- The proliferation of social media platforms, advancements in AI, and the reduction of development costs have contributed to industry growth.