Venture Capital

Ushur Secures $50 Million Series C

SANTA CLARAUshur, a provider of AI-powered Customer Experience Automation (CXA), has raised a $50 million Series C funding round led by Third Point Ventures with participation from existing investors Iron Pillar, 8VC, Aflac Ventures and Pentland Ventures. Funds from this round will go toward expanding Ushur’s experience automation portfolio, developing new innovations in AI and moving into new regions and industry verticals.

In the last 12 months, Ushur says it has tripled its headcount, doubled its customer base and achieved a Net Revenue Retention (NRR) of 164% as enterprises have moved toward AI-driven automation solutions purpose-built for end-to-end customer engagement applications. This is an area where back-office automation technologies, such as Robotic Process Automation (RPA), continue to struggle to deliver business value.

“The previous generation of enterprise automation was designed for infrastructure processes,” said Simha Sadasiva, CEO and cofounder, Ushur. “We built Ushur’s AI platform with a different goal in mind: to provide excellent customer experiences at scale and to deliver meaningful interactions that put the customer’s needs at the center. Enterprises have a massive appetite for modernizing the customer experience to maintain their market position. When combined with automation, this unlocks tremendous financial value. Ushur’s CXA cloud delivers on both of these promises. Our success is a direct result of the value created for the enterprise with a focus on the customer experience, which continues to shape our technology, our strategy and our culture.”

Half of Ushur’s customers are Fortune 500 companies including Aflac, Cigna, CVS, Irish Life, United Healthcare and Unum Group.

With Ushur, these enterprises have improved customer engagement rates as much as 85%, reduced email triage times from five days down to five minutes and slashed customer issue resolution times by as much as 90%.

“Ushur is achieving impressive growth and deployment with production technology perfectly suited to automate enterprise-class customer engagements,” said Rob Schwartz, Managing Partner, Third Point Ventures. “As enterprises in verticals such as insurance, healthcare and financial services run into the limits of the previous generation of business process automation, we see Ushur’s user experience-focused, AI-driven platform deliver massive value to their customers. Our continued investment in Ushur further demonstrates our conviction that Ushur is shaping a new category, one that will fundamentally transform how enterprises engage and serve their customers at scale. I just can’t wait to see what comes next for this truly innovative company.”

Ushur’s enterprise-ready platform has artificial intelligence at the core. It uses conversational AI, language intelligence and document understanding to deliver industry-specific, hyper-personalized customer experience solutions. Ushur will use the latest round of funding to enhance its platform with transformative new technologies including Large Language Models (LLMs) and Generative AI.