Ushur Secures $50 Million Series C

SANTA CLARA &&num;8212&semi; Ushur, a provider of AI-powered Customer Experience Automation (CXA), has raised a &dollar;50 million Series C funding round led by Third Point Ventures with participation from existing investors Iron Pillar, 8VC, Aflac Ventures and Pentland Ventures&period; 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&period;&NewLine;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&percnt; as enterprises have moved toward AI-driven automation solutions purpose-built for end-to-end customer engagement applications&period; This is an area where back-office automation technologies, such as Robotic Process Automation (RPA), continue to struggle to deliver business value&period;&NewLine;&OpenCurlyDoubleQuote;The previous generation of enterprise automation was designed for infrastructure processes,” said Simha Sadasiva, CEO and cofounder, Ushur&period; &OpenCurlyDoubleQuote;We built Ushur’s AI platform with a different goal in mind&colon; to provide excellent customer experiences at scale and to deliver meaningful interactions that put the customer’s needs at the center&period; Enterprises have a massive appetite for modernizing the customer experience to maintain their market position&period; When combined with automation, this unlocks tremendous financial value&period; Ushur’s CXA cloud delivers on both of these promises&period; 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&period;”&NewLine;Half of Ushur’s customers are Fortune 500 companies including Aflac, Cigna, CVS, Irish Life, United Healthcare and Unum Group&period;&NewLine;With Ushur, these enterprises have improved customer engagement rates as much as 85&percnt;, reduced email triage times from five days down to five minutes and slashed customer issue resolution times by as much as 90&percnt;&period;&NewLine;&OpenCurlyDoubleQuote;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&period; &OpenCurlyDoubleQuote;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&period; 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&period; I just can’t wait to see what comes next for this truly innovative company&period;”&NewLine;Ushur’s enterprise-ready platform has artificial intelligence at the core&period; It uses conversational AI, language intelligence and document understanding to deliver industry-specific, hyper-personalized customer experience solutions&period; Ushur will use the latest round of funding to enhance its platform with transformative new technologies including Large Language Models (LLMs) and Generative AI&period;&NewLine;

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