Chennai based start-up Uniphore raises fund from IDG Ventures

Uniphore Software Systems, Chennai-based speech recognition Solutions Company, has announced it has received new investment from IDG Ventures.

This investment will help Uniphore scale its core technology development efforts and expand its reach and presence in multiple markets across the globe.

Uniphore’s solutions extend the power of speech to revolutionize human-machine interaction allowing any software application to understand and respond to natural human speech.

“Uniphore’s innovative and intuitive solutions for voice biometrics, virtual speech assistant and speech analytics dramatically change the way enterprises engage their consumers, build loyalty and maintain a healthy bottom-line,” said the company’s official release.

Uniphore has pioneered the development of integrated and smart speech-recognition applications and boasts a roster of high profile, satisfied customers across many industries, including Banking, Insurance, BPOs, Agriculture, Lending/MFI, Healthcare and Government.

Commenting on the investment Ranjith Menon, Senior Vice President with IDG Ventures said, "Combination of voice and analytics is a very interesting concept. We are very excited at the opportunity to partner with Umesh and team as they take this platform globally."

“IDG Ventures have deep experience of investing and mentoring world-class companies and having them as an investor is an enormous vote of confidence in Uniphore’s ability to emerge as a leader of its niche,” said Umesh Sachdev, Co-founder and CEO, Uniphore Software Systems.

Sunil Goyal from YourNest, who also participated in this round of investment and added to their earlier investment, said, "Uniphore operates in a great space with the team demonstrating breakthrough thinking, exemplary execution and sound planning. This has resulted in a product portfolio that spans across sectors and their ‘think ahead, stay ahead’ mindset enables an agile expansion too.”

Nagaraja Prakasam, Uniphore Board member and IAN investor who led the previous investment round said, "Uniphore’s vision of using voice to bring digital revolution to non-English speaking audience is what attracted me. I'm glad that within 13 months of our investment, the company has achieved significant growth and attracted this new round of investment. This investment paves way to Uniphore becoming a global leader.”

Uniphore has received investment from Kris Gopalakrishnan (Infosys Co-Founder), India Angel Network, Ray Stata (Co-Founder and Chairman of the Board of Analog Devices, Inc.) and YourNest Angel Fund and also seed investment from IIT Madras’ Rural Technology and Business Incubator (RTBI), Villgro Innovations Foundation, and the National Research Development Corporation.