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The financial details of the deal remain undisclosed

Umesh Sachdev, Uniphore’s cofounder and CEO said the acquisition brings together capabilities to arm enterprises with new tools that provide a quick resolution to consumer queries

Colabo was built with a vision to help personalise customers’ experiences

Conversational automation unicorn Uniphore has acquired Colabo, an AI-powered knowledge automation solution provider. However, the financial details of the deal remain undisclosed.

Uniphore said that the integration of Colabo solutions on the Uniphore platform will help enterprises to leverage AI to extract knowledge entities and graphs from structured and unstructured data. Consequently, Intelligent Virtual Assistants (IVAs) and live agents will be able to conduct better customer interactions with the most relevant content.

“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,” Umesh Sachdev, cofounder and CEO of Uniphore, said.

Israel-based Colabo specialises in AI solutions that, in turn, power customer engagement solutions by unifying knowledge from any digital and physical content into a seamless, personalised omnichannel experience.

Colabo was built with a vision to help personalise customers’ experiences from when they contact a business to when their issue is resolved, as shared by Yoav Dembak, cofounder and CEO of Colabo. 

“We will be taking our vision even further by integrating into Uniphore’s conversational AI and automation platform, bringing rigor and best-of-breed agility and accuracy to every contact center inquiry,” Dembak added.

Founded by Ravi Saraogi and Umesh Sachdev in 2008, Uniphore is a conversational automation platform that combines conversational AI, emotion and tonal analysis, computer vision, workflow automation, and RPA (Robotic Process Automation) in a single integrated platform to transform and democratise customer experiences across industries.

In February 2022, Uniphore entered the coveted unicorn club after raising $400 Mn in funding at a valuation of $2.5 Bn. Its Series E round was led by NEA in participation with its existing investors March Capital and others. 

At the time of the fundraising announcement, Uniphore said it would utilise the fresh round to work on advancements in voice AI, computer vision and tonal emotion. Uniphore also revealed its intentions to expand its business operations globally, specifically in North America, Europe and Asia Pacific.

According to a ResearchAndMarket.com report, the global conversational AI market is projected to reach $22.8 Bn growing at a compound annual growth rate (CAGR) of 22.07% over the forecast period from 2021 to 2027.