AI Rudder Raises US$50 Million in Series B Funding to Propel Growth and International Expansion
The Singapore-based Voice AI start-up has secured additional funding months after its Series A round to maintain global growth
SINGAPORE, 08 MARCH 2022 — AI Rudder, the leading voice artificial intelligence start-up, today announced it has closed a US$50 million Series B funding round, bringing total funding in the last 12 months to US$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.
Founded in 2019, AI Rudder 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, 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.
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.
To power this next phase of growth, the company will use the proceeds from the investment round to double its headcount, enabling job creation for highly specialised and sophisticated roles in technology across the region. 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.
About AI Rudder
AI Rudder empowers customer voice communications with a new generation of technology to build stronger connections between companies and their customers. Using AI-driven automation to supercharge Customer Experiences, AI Rudder helps companies around the world improve the scale, speed, and quality of their customer interactions and drive user satisfaction. Headquartered in Singapore, AI Rudder also has offices in Shanghai and Jakarta.