Observe.AI has secured $125 million in a Series C investment led by SoftBank Vision Fund 2 with participation from Zoom Video Communications, Inc. Observe.AI now has $213 million in investment under its belt.
Swapnil Jain, CEO of 230-employee Observe.AI, told CMSWire the investment will help the company develop its next generation of product innovations. This includes advancing capabilities around agent performance, such as synthesizing real-time with post-interaction insights. They'll also scale their go-to-market motion and further expand their international presence. In the last year, the company has doubled its engineering team, published six research papers and secured a provision machine learning patent for another capability.
Addressing Customer Experience Issues in Contact Centers
Observe.AI's Intelligent Workforce Platform converts contact centers into AI-powered intelligence systems, with complete conversation visibility, business-improving insights and machine-driven processes, according to Jain. Observe.AI gathers information from every consumer encounter, he said, and AI operates as a multiplier, increasing the effectiveness of customer-facing personnel and automating repetitive procedures that surpass corporate objectives.
Its software:
- Provides agents with the personalized coaching to level-up their performance and improve in a data-driven way
- Deliver a complete line of sight on team performance for supervisors, enabling them to support agents with complete situational context and personalized coaching.
- Empower QA teams to monitor and enforce quality on 100% of conversations
This newest investment will support the development of the next generation of Observe.AI product improvements, such as the integration of real-time and post-interaction agent coaching. It will help shorten the company's time to IPO preparedness, drive continuous geographical development into foreign markets and accelerate its go-to-market motion, Jain said.
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"While there’s a lot of buzz around real-time agent assistance, we believe the most profound intelligence that propels meaningful advancements in customer experience will come from harmonizing real-time and post-interaction data," Jain said.
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What Are Observe.AI's Next Steps?
Contact center AI is very hyped at the moment and a lot of companies claim to use AI, but not everyone is necessarily doing so in a truly disruptive way, according to Jain.
"For instance, they may be automating a few tasks, but not delivering adaptive insights that propel continuous business improvement," Jain said. "I think we’re going to see players with purpose-built, business-centric AI for contact centers begin to break through the noise, and demonstrate that AI built expressly for contact centers will fundamentally revolutionize their status as revenue drivers rather than cost centers."
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