Observe.AI Funding Round Expected to Advance AI-Driven Call Center Technology

As customers, we like our customer service humanized. We like it customized, and we like it fast and efficient. Adding machine intelligence to the process would seem to be counterintuitive. Yet artificial intelligence (AI) can actually boost the human-to-human customer support process.

While a human agent doesn’t have the time to seek out little tidbits of intelligence from every interaction with a customer, an AI-driven solution does. These bits of information gathered from elsewhere can act as a kind of “force multiplier,” boosting the performance of (human) customer-facing teams and automating repeatable processes that exceed business goals, according to Observe.ai, a company which builds an AI-driven call center workforce platform.

This combination of AI intelligence and human workforce skills can lead to unprecedented business results in the contact center, and Observe.AI is taking its technology to the marketplace. This week, the company announced that it has raised $125 million in Series C funding led by SoftBank Vision Fund 2 with participation from Zoom Video Communications, Inc. This brings Observe.AI’s total funding to date to $213 million.

Now is a critical time for the contact center industry. Consumer expectations and technology investments are at an all-time high, yet brands struggle to improve their customer experience and business outcomes. While an estimated $24 billion has been poured into technology investments, contact centers remain woefully in the dark when it comes to customer conversations. At most, typical contact centers have just three percent visibility into these interactions, leaving their customer-facing teams with no option but to work reactively and inconsistently – and leading to an estimated $75 billion per year in lost revenue.

The newly announced funding round is expected to fuel development of the next generation of Observe.AI’s product innovations, including expansion into harmonizing real-time with post-interaction agent coaching. It will also scale the company’s go-to-market motion, drive continued geographical expansion into international markets, and accelerate its timeframe to IPO readiness.

“Observe.AI has a transformative vision to deliver actionable and trustworthy AI that empowers digital-first businesses to create exceptional customer experiences,” said Priya Saiprasad, Partner at SoftBank Investment Advisers, one of the investors. “We believe the company has built an intelligent, flexible platform with endless use cases, from healthcare companies seeking to enhance patient experience through to financial institutions aiming to boost revenue.”

Be part of the conversation about how AI is driving the Future of Work and both the customer and employee experience at Future of Work Expo 2022. The conference focuses on key elements of today's re-imagined workplace, not just for improving productivity, but also providing a better customer experience, through the intersection of technology and the human element. Future of Work Expo is part of the #TECHSUPERSHOW experience, taking place June 21-24, 2022 in Ft. Lauderdale, Florida.

Edited by Erik Linask