- John Chambers has picked up 10% stake in Uniphore Software Systems
- Investment part of Series B funding raised by Uniphore Software Systems
- Existing investors, including IDG and IIFL participate in the new round
New Delhi, India – November 30, 2017 – Uniphore Software Systems, leading software product vendor in the speech analytics and virtual assistant verticals today announced that it has successfully closed its Series B round of funding. The series saw participation from most existing investors including IDG Ventures who led the previous round. The highlight of the Series B round was substantial participation by John Chambers, Chairman of USISPF and Executive Chairman of Cisco. Mr. Chambers, a celebrated information technology sector leader, and influencer, has made the investment in his personal capacity. This is Mr. Chambers’ first investment in a startup outside of the United States.
Uniphore will utilize these new funds to deepen core research driving product enhancement, upgrade its customer service infrastructure, expand its sales reach to newer geographies and recruit new talent to support its rapid growth.
Mr. Umesh Sachdev, Co-founder, and CEO of Uniphore Software Systems, welcoming John to the marquee list of Uniphore investors, said, “We are humbled by John’s concurrence to be Chief Guru at Uniphore. It is our good fortune to have an industry veteran like John invest in the future of Uniphore. While John’s monetary investment is certainly important to the company, it is his vast and varied experience building a globally leading IT company that adds incalculable value to Uniphore and I am certain that the company will gain immensely from his counsel and guidance.”
Commenting on the investment, Chambers said, “I am a big believer in India and its potential for producing globally relevant startups like Uniphore. The company was able to foresee the growing need for deep technology in the area of speech recognition and has innovated ahead of the market to capture this significant opportunity. During my time working with and mentoring Umesh, I have been impressed with his leadership and passion for improving customer experiences, and his ability to build a world-class team of software experts. I’m looking forward to continuing to work closely with Umesh and the Uniphore team to help them realize their ambitions.”
Uniphore is one of the rare Indian companies that offer enterprise-class software products built on sophisticated research driven breakthroughs. Uniphore’s products are bringing new capabilities in the technically difficult area of speech recognition and natural language processing. Uniphore’s speech analytics product auMina and virtual assistant product akeira are acknowledged leaders in India and are now attracting attention and winning customers in geographies outside India.
Commenting on the market potential of its products Umesh elaborated, “Globally, the speech analytics and the virtual assistant verticals are estimated to grow by 2021 to a combined size more than $10 billion. Uniphore has established a clear leadership in both these verticals and we firmly believe that our research led product development strategy sets us up nicely to win a significant share of these growing verticals.”
Uniphore Software Systems is headquartered in IIT Madras Research Park, Chennai. Uniphore was incubated in IIT Chennai, India in 2008 and currently has offices in India, Singapore and U.A.E with about 100 employees spread across all locations. Uniphore’s investors include John Chambers, Kris Gopalakrishnan, IDG Ventures India, India Angel Network, YourNest Angel Fund and Ray Stata. Uniphore has worked with over 70 enterprise customers and served over 4 million end users. Uniphore was recognized by Deloitte as a Technology Fast 500 company in Asia Pacific in 2014 and was also ranked as the 10th fastest growing technology company in India by Deloitte Fast 50 in 2015. Uniphore’s Co-founder & CEO, Umesh Sachdev was recognized by the TIME Magazine list of 2016 amongst ’10 Millennials Changing The World’, and with India’s edition of MIT Technology Review’s ‘Innovators Under 35′ for the year 2016. http://www.uniphore.com
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