In a Series C fundraising round, the London-based AI startup PolyAI just raised more than €50 million to enhance AI-powered customer service.
Hedosophia, NVentures (NVIDIA’s venture capital arm), and Zendesk were among the new investors who supported the round. Khosla Ventures, Georgian, Point72 Ventures, Sands Capital, and Passion Capital made additional investments. With this fundraising, PolyAI has now raised more than €110 million.
The technology that PolyAI developed was far ahead of what was possible in contact centers when the company was founded back in 2017. While they were utilizing LLMs to push the envelope and achieve previously unheard-of conversational accuracy in customer service use cases, most contact centers were just not prepared to make the switch.
PolyAI serves nearly 100 enterprise clients today, including FedEx, PG&E, Caesars, Marriott, and Unicredit. The startup, based in London, is among the handful of few that have produced revolutionary results in organizations with large call volumes. For example, they implemented the most multilingual enterprise voice assistant in the world for one of their international clients; it can support twelve languages and do the duties of more than one thousand full-time employees.
Related Content: AI-Powered Customer Service Solution by Berlin-based Parloa
Khosla Ventures founder Vinod Khosla said:
“The round-up suggests that VCs are excited about the same idea. We are experiencing a Cambrian explosion in AI that will impact every industry. We made an early investment in PolyAI and the team as pioneers of the AI-powered, voice-based customer care space, and we are excited to be part of their journey to elevate customer service to the pinnacle of any business’s brand experience.”
Pavan Kapur, a former CCO at Caesars Entertainment and partner of PolyAI stated:
“PolyAI’s intuitive and natural conversational abilities and their impact on the customer experience greatly impressed me. I am passionate about serving customers and thrilled to see PolyAI continue innovating for both companies and consumers.”
In the next five years, PolyAI wants to be the voice that answers more than half of all customer support calls and does it with excellence. Their technology combines the benefits of generative AI with an intuitive user interface that mimics how businesses develop, implement, and refine voice channels.
Intelligent workflows are the foundation for creating and launching amazing experiences. It stands out from other options because it leverages ten years of experience in implementing next-generation voice automation. It offers actionable insights specific to voice interactions, innovative integrations enabling rapid voice assistant launches and improvements, and a capable staff to innovate, support, and orchestrate the quickly evolving technology landscape for enterprise-grade deployments.
Their voice assistants serve as useful tools for companies in various industries, recognizing and interacting with each person’s distinctive voice. Along with the aforementioned companies, PolyAI’s clientele also includes top players in the public sector and the markets for logistics, international banking, hotel, home services, energy, insurance, retail, healthcare, manufacturing, and telecom.
