Artificial intelligence-based voice company Skit, formerly known as Vernacular.ai, said Tuesday that it has secured $ 23 million as part of its Series B financing, led by WestBridge Capital to drive the next level of growth and evolution. of the product.
The investment also featured the participation of Kalaari Capital and Exfinity Ventures, the angel union led by Aaryaman Vir Shah of Prophetic Ventures and the Letsventure union led by Sense AI.
According to the company, the capital will be used for sales and marketing, building delivery capabilities, as well as research and development to accelerate innovation and further enhance the company’s products as it expands globally.
Skit is a software-as-a-service (SaaS) voice automation company, which enables companies to automate their call center operations. Its product called the Vernacular Intelligent Voice Assistant (VIVA) can currently respond in more than 16 languages, covering more than 160 dialects and replicating human-like conversations.
With the Series B funding, Skit has raised a total of $ 30 million, to date. The company now plans to duplicate and scale operations in the Indian and global markets.
“This investment comes as we are making strategic inroads into the US and Southeast Asian markets. Customers and investors alike have recognized the uniqueness and superiority of our product and continue to show confidence in our growth path. The size of the global contact center market is growing steadily and reaching a value of $ 496 billion by 2027. To address this considerable growth, we at Skit are using voice bot innovation and our market insights to personalize people’s experiences who call at customer contact centers, “said Sourabh Gupta, CEO and co-founder of Skit.
The startup had raised $ 5.1 million as part of its Series A raise in May of last year, led by Exfinity Ventures.
Since the last fundraiser, Skit claims to have increased its revenue by fourfold, while venturing into industries such as banking, insurance, e-commerce, consumer durables, travel and logistics, among others.
“We are delighted to support Sourabh and Akshay as they continue to help global companies transform the way customer service is delivered. Skit’s success in helping India’s largest companies positions them well to to enter the US market, where there is a great need for voice AI solutions, “said Sashi Reddi, Westbridge Capital Venture Advisor.
