Singapore-based voice artificial intelligence startup AI Rudder announced raising $50 million Series B funding, bringing its total funding in the last 12 months to $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.
AI Rudder, founded in 2019, 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, the startup said 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.
Kun Wu, Co-Founder and Managing Director of AI Rudder said the fresh capital will support continuous enhancements to our suite of products, enabling our clients to deliver more frictionless digital experiences to their customers.
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.
“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,” Wu said.
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.