Observe.AI Raises $54 Million Series B Round

Observe.AI has announced a $54 million Series B financing round led by Menlo Ventures, with participation from Next47 Ventures and NGP Capital.

The funding will allow Observe.AI to continue its momentum by helping the world’s top brands accurately transcribe and analyze every call while providing deeper visibility into customer service operations. With the funding, Observe.AI will expand its go-to market programs, and will continue to invest in R&D to add new capabilities in the areas of real-time coaching, omnichannel support, and interaction analytics. The Series B financing brings the company’s total funding to $88 million, including $80 million in the last 12 months, showcasing strong investor confidence in Observe.AI and the importance of enhancing voice customer experiences.

Over the past 12 months, Observe.AI has grown the team to 100 people and brought on more than 150 customers, including Pearson, Alcon Laboratories, and Concentrix. During this time, Observe.AI added over 20,000 agent licenses to its platform.

READ ALSO:  Speech Processing Joins RingCentral’s Channel Partner Program

In conjunction with the investment round, Steve Sloane, Partner at Menlo Ventures, will be joining Observe.AI’s board of directors. Observe.AI is also accelerating the development of its contact center AI platform with the Microsoft Azure AI and Azure Cognitive Services to help joint customers enable representatives to deliver more meaningful customer experiences.