AI Rudder Raises US$50 Million in Series B Funding to Propel Growth and International Expansion
PR94786
SINGAPORE, Mar. 9, 2022 /PRNewswire=KYODO JBN/--
- The Singapore-based Voice AI start-up has secured additional funding months
after its Series A round to maintain global growth
AI Rudder, the leading voice artificial intelligence start-up, today announced
it has closed a US$50 million Series B funding round, bringing total funding in
the last 12 months to US$60 million. New investors Tiger Global, Coatue, Cathay
Innovation, First Plus and VenturesLab participated and were joined by previous
investors Sequoia Capital India and Huashan Capital.
Founded in 2019, AI Rudder develops advanced voice AI technology to help
businesses solve B2C communication challenges across a range of different
industries, including banking and finance, fintech, insurance and e-commerce.
Today, more than 200 companies around the world use its platform to supercharge
their customer experience by augmenting human agents with AI voice assistants
to maximise profits, efficiency and scalability.
"Advancements in machine and deep learning technologies are opening new
possibilities for Voice AI to be more human-like. This fresh infusion of
capital will support continuous enhancements to our suite of products, enabling
our clients to deliver more frictionless digital experiences to their
customers. The ubiquity of technology and SaaS has allowed us to impact
businesses across continents – in countries like Mexico, Kenya, Australia and
beyond. We're excited to lead this next phase of growth into new territories
and industries to supercharge omnichannel customer experiences for our
clients," said Kun Wu, Co-Founder and Managing Director, AI Rudder.
Global demand for responsive customer service brought about by the pandemic has
skyrocketed growth for the company. Over the last year, AI Rudder experienced a
surge of growth, with an impressive 400% year-on-year increase in revenue.
Additionally, the company's Annual Recurring Revenue (ARR) also increased three
times in 2021 due to a growing client roster.
"We have been looking to invest in companies using AI to reimagine the customer
experience. Through its global first approach and rapidly growing TAM, AI
Rudder's position within the rapidly growing global conversational AI
marketplace fit squarely into our thesis," said Nicolas du Cray, Partner,
Cathay Innovation. "Once we discovered that a number of our portfolio
companies rely heavily on their technology to deliver game changing customer
experiences – we had to back the company. We are incredibly fortunate to have
the opportunity to help AI Rudder as they revolutionise the customer experience
for the world's brands."
To power this next phase of growth, the company will use the proceeds from the
investment round to double its headcount, enabling job creation for highly
specialised and sophisticated roles in technology across the region. The fresh
funds will also be used to build on the company's strong growth, including
serving more clients and increasing its global presence. Currently, the
platform supports more than 15 languages including English, Bahasa, Chinese,
Hindi, Spanish, Tagalog, Tamil, Thai, Vietnamese, and plans are in place to add
Arabic, Cantonese, French, German, Japanese, Korean and Portuguese to better
support multinational companies.
About AI Rudder
AI Rudder empowers customer voice communications with a new generation of
technology to build stronger connections between companies and their customers.
Using AI-driven automation to supercharge Customer Experiences, AI Rudder helps
companies around the world improve the scale, speed, and quality of their
customer interactions and drive user satisfaction. Headquartered in Singapore,
AI Rudder also has offices in Shanghai and Jakarta.
SOURCE: AI Rudder
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Caption: AI Rudder's Executive Leadership Team
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