Uniphore, a Chennai and California-based conversational automation unicorn, on Wednesday announced it acquired Colabo — an AI-powered knowledge automation solution that specialises in extracting and utilising information from structured and unstructured documents in real-time.
However, the financial details of the transaction are not undisclosed by the company.
The acquisition will enable enterprises to leverage AI to extract knowledge entities and graphs from structured and unstructured data, Uniphore said in a statement. This, in turn, will ensure the most relevant content is delivered to intelligent virtual assistants (IVAs) for significantly better customer interactions, the statement added.
Uniphore founders: Ravi Saraogi (left) and Umesh Sachdev
According to Yoav Dembak, Co-founder and CEO, Colabo, the startup was built with a vision to help personalise customers’ experiences from when they contact a business to when their issue is resolved.
“Simply put, consumers today expect access to up-to-date information to solve their problems and contact centres can provide better experiences with the latest technologies that do exactly that. This acquisition brings together unique capabilities to arm enterprises with new tools that provide a quick resolution to consumer queries and empower agents with real-time, actionable information,” said Umesh Sachdev, Co-founder and CEO of Uniphore.
Earlier in February, Uniphore entered into the unicorn club after raising $400 million in a Series E round led by US VC firm NEA, March Capital, and other existing investors, bringing its total funding to more than half a billion ($610 million) and raising the startup’s valuation to $2.5 billion.
In 2021, Uniphore announced two major acquisitions — Emotion Research Lab for added capabilities in emotion AI and Jacada, for enhanced low-code/no-code capabilities.
Founded in 2008 by Umesh Sachdev and Ravi Saraogi, Uniphore has built an automation platform that combines conversational AI, workflow automation, and RPA (Robotic Process Automation) with a business user-friendly UX.