PolyAI has secured $50 million in a Series C funding round, to further advance AI-driven voice automation for enterprise contact centers. This latest investment includes new backers Hedosophia, Nvidia's NVentures, and Zendesk, along with continued support from Khosla Ventures, Point72 Ventures, Passion Capital, and more.
"Anyone who has ever picked up the phone to get support from their favorite brands has experienced the frustration of dealing with bad customer service. Our mission is to make every company the best version of itself in every customer interaction. This raise is a testament to the work we've put in to make that mission a reality. . We aim to be the voice that handles - and handles well - over half of all automated customer service calls within the next five years," said Nikola Mrkšić, CEO and Co-Founder, PolyAI.
Established in 2017, PolyAI now serves nearly 100 major enterprise clients, such as FedEx, PG&E, Caesars, Marriott, Unicredit, and other Fortune 500 companies. Recently, one of PolyAI's clients launched a pioneering voice assistant entirely powered by generative AI, now used by millions. Another global brand collaborated with PolyAI to develop the most multilingual enterprise assistant, capable of conversing in 12 languages. Over the past two years, PolyAI's growth has surged tenfold, with the U.S. market accounting for over 70% of their revenue.
Customer feedback has been overwhelmingly positive. Pavan Kapur, former Chief Commercial Officer at Caesars Entertainment, praised PolyAI: "I was extremely impressed with PolyAI's intuitive and natural conversational abilities and the impact it will have on customer experience. As a customer-obsessed leader, I am excited to see PolyAI continue to innovate for businesses and customers alike."
The enthusiastic response from venture capitalists indicates a shared confidence in PolyAI's vision.
In other news, PolyAI and Twilio have teamed up to integrate PolyAI's conversational assistant with Twilio's Flex and Programmable Voice, Twilio's contact center platform.
