Chennai-based speech recognition startup Uniphore Software Systems has raised $2 million (Rs 13.4 crore) in a bridge round led by IDG Ventures with participation of existing investors, including Indian Angel Network (IAN) and YourNest Angel Fund.
“We are happy with the kind of progress the company has made and how it has migrated from an enterprise model to a SaaS model. It has also got marquee brands as clients,” said Girish Shivani, partner, YourNest Angel Fund told Techcircle.in.
Uniphore was started in 2008 by Umesh Sachdev (CEO) and Ravi Saraogi (COO), both alumni of Jaypee University of Information Technology, Himachal Pradesh. The company boasts six patents and has served 70 enterprise customers including, Tamil Nadu government, Axis Bank and Grameen Koota. It has offices in India, Philippines and the UAE.
Uniphore’s main product is auMina, a speech analytics software solution that can identify trends, predict outcomes and suggest process improvements. This can be quite handy in call centres, which end up at the butt-end of many jokes on mis-communication. Uniphore’s products can process over 25 languages and 150 dialects, including global languages. Its products have helped serve four million users in India as well as the Philippines and the UAE.
Last year, the firm raised $3.5 million (Rs 20.3 crore) in Series A funding from Infosys’ co-founder Kris Gopalakrishnan along with IAN, IDG ventures and YourNest.
Uniphore’s other investors include Ray Stata, co-founder and chairman of Analog Devices Inc; IIT Madras’ Rural Technology and Business Incubator (RTBI), Villgro Innovations Foundation and National Research Development Corporation.