Voice Automation Platform Skit Raises $23 Million In Series B
Bangalore-based startup Skit (formerly Vernacular.ai) has raised $23 million in a Series B funding round led by WestBridge Capital with participation from Kalaari Capital and Exfinity Ventures, Angelist syndicate led by Aaryaman Vir Shah from Prophetic Ventures, and Letsventure syndicate led by Sense AI. The fund raised will be used for sales & marketing, building delivery capabilities, R&D to speed up innovation and further enhance the company’s products while expanding globally. “This investment comes when we are making strategic inroads into the US and SouthEast Asian markets. Clients and investors alike have recognized the uniqueness and superiority of our product and continue to show confidence in our growth path. The global contact centre market size is expected to grow steadily and reach a value of 496 billion US dollars by 2027. To address this sizable growth, we at Skit are using voice bot innovation and our market observations to personalize caller experiences at customer contact centres, and deliver up to 50% cost reduction and superior customer experience. We are driven by the passion of our clients and our team to change the way businesses interact with their customers,” said Sourabh Gupta, CEO and Co-founder, Skit. Founded in 2016 by Sourabh Gupta and Akshay Deshraj, Skit has a suite of speech and language solutions that allow enterprises to automate their call centre operations. Sashi Reddi, Venture Advisor to Westbridge Capital, said, “We are delighted to back Sourabh and Akshay as they continue to help global companies transform how customer service is delivered. Skit’s success in helping India’s largest companies positions them well to enter the US market where there is a massive need for voice AI solutions.” In May 2020, the startup secured its Series A funding of USD 5.1 million and raised a Series B round of USD 23 million this year.
The fund raised will be used for sales & marketing, building delivery capabilities, R&D to speed up innovation, and further enhance the company’s products while expanding globally.
The fund raised will be used for sales & marketing, building delivery capabilities, R&D to speed up innovation.
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["API", "funding", "programming_languages:R", "AI", "innovation", "R", "startup"]
["AI", "R", "API", "innovation", "startup", "funding", "programming_languages:R"]
Kumar Gandharv, PGD in English Journalism (IIMC, Delhi), is setting out on a journey as a tech Journalist at AIM. A keen observer of National and IR-related news.