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