Today we announced our Series C: a $125M round led by SoftBank Vision Fund 2. Read more in our press release here.
When we first started Observe.AI, we were one of the rare companies that first found the market opportunity, then built our product to innovate and disrupt it. I always think back to the intense research we did onsite at contact centers in Manila and India. We observed and talked with leadership, managers, supervisors, and the agents on the frontlines. And we gained a deeper understanding into the people and culture we built Observe.AI for.
This in-depth understanding brought out the best in our company and our mission to make every employee in the contact center AI-empowered, ultra-productive and constantly improving to drive 10x business outcomes.
Our mission is to make every employee in the contact center AI-empowered, ultra-productive and constantly improving to drive unprecedented business outcomes.
We knew the opportunity to transform the contact center was untapped, but I never imagined that a few short years later Observe.AI would be raising the largest Series C round of funding for any contact center AI company to date.
It is a testament to our vision and the execution of building a world-class Intelligent Workforce Platform that drives stellar customer experiences, top performing teams, and unprecedented results. It’s also a defining factor in the investment Softbank Vision Fund 2 has made with this round, and the emerging technologies we are at the forefront of.
The Customer Experience Paradox
The business need is clearer than ever—despite $24 billion being poured into contact center technology investments, contact centers remain woefully in the dark when it comes to customer conversations. Brands continue to struggle to improve customer experience and business outcomes, all the while customer expectations continue to surge.
Observe.AI was built to not only solve those challenges, but drive innovation to usher in a new era for contact centers, one that is AI-empowered, holistic, and solves the CX paradox. Our Series C will fuel us to do just that and much more.
Our Series C funding comes on the heels of immense momentum.
In the last year, we drove 150% ARR growth. The volume of analyzed customer interactions through Observe.AI increased 3x. We also grew our enterprise customer base by 40% and saw a 40% increase in revenue post-implementation. And we innovated our platform while expanding our global team.
Our platform helps improve revenue, increase customer satisfaction, and maintain the ever-growing complexities of compliance and operational efficiency. In my customer tour this past quarter, I heard about these results first-hand and could see the massive impact that unprecedented visibility and insights have on organizations striving to reach ambitious business goals. It was further validation of our unique, holistic approach to the CX dilemma, combined with the caliber of our customer success and professional services, and the results we’ve driven for our happy, growing customer base.
Driving our vision and what’s next
We’ve witnessed massive investments in the broader contact center AI market, and that’s a very positive signal for the market opportunity ahead of us. It’s what brings out the best in our company and our mission to make every employee in the contact center AI-empowered, ultra-productive and constantly improving to drive unprecedented business outcomes.
We strive to deliver value to every layer of the contact center, helping agents better delight customers and convert calls faster; enabling QM managers, supervisors and trainers to improve evaluation and coaching programs, and empowering business leaders to surpass mission-critical goals for CX & revenue generation.
With the new funding, we’ll continue to grow in new and powerful ways through investments in the following areas:
- Accelerating the expansion of our Intelligent Workforce Platform, harmonizing during and post-interaction evaluation and coaching workflows to drive better business outcomes for our customers in customer experience and revenue generation.
- Investing in our world-class R&D function to increase our leadership position in actionable, reliable, and purpose-built AI for the contact center.
- Scaling our go-to-market team, including our direct and channel-based motions, to further accelerate our growth.
These aren’t just pie in the sky promises. Executing this roadmap and company vision is already in motion. If you’d like to be a part of it, check out our careers page (we’re hiring across all functions).
As we like to say with every company milestone, onwards and upwards!