Voice AI company Skit has raised $23 million in its Series B funding round led by WestBridge Capital. Kalaari Capital and Exfinity Ventures also participated in the round, along with angelist syndicate led by Aaryaman Vir Shah from Prophetic Ventures, and Letsventure syndicate led by Sense AI. The company will use the fresh funds for sales and marketing, building delivery capabilities, R&D to speed up innovation and global expansion. The investment comes at a time when the company is making strategic inroads into the US and SouthEast Asian markets, Sourabh Gupta, CEO and co-founder, Skit, said. “Clients and investors alike have recognised the uniqueness and superiority of our product and continue to show confidence in our growth path,” Gupta added.
“The global contact center market size is expected to grow steadily and reach a value of $ 496 billion by 2027. To address this sizable growth, we at Skit are using voice bot innovation and our market observations to personalize caller experiences at customer contact centers, and deliver upto 50% cost reduction and superior customer experience. We are driven by the passion of our clients and our team to change the way businesses interact with their customers,” Gupta added further.
According to Sashi Reddi, venture advisor, Westbridge Capital, Skit’s success in helping India’s largest companies, positions them well to enter the US market where there is a massive need for voice AI solutions. Skit continues to help global companies transform how customer service is delivered, Reddi noted.
Skit secured Series A funding in May 2020, led by Exfinity Ventures and Kalaari Capital, AngelList. The latest B funding takes the startup’s total raise to $30 million. The company now plans to scale and double down its operations in both Indian and global markets. Skit’s revenue and customer growth have jumped four times since its last fundraise, the company claimed in a statement. In addition, the company has strengthened its workforce by over 6x, the statement added.
The AI-first SaaS voice automation company, founded by Sourabh Gupta and Akshay Deshraj in 2016, offers an automation product, Vernacular Intelligent Voice Assistant (VIVA). Skit claims VIVA can currently respond in over 16 languages and covers over 160 dialects. Some of its prominent clients are Axis Bank, Hathway, Porter, and Barbeque Nation, among others.