AI-powered knowledge automation startup: Colabo acquired by Uniphore
- ByStartupStory | April 14, 2022
On Wednesday, a Chennai and California-based conversational automation unicorn, Uniphore, announced that it has acquired an AI-powered knowledge automation solution- Colabo, that specialises in extracting and utilising information from structured and unstructured documents in real-time.
However, the company hasn’t disclosed the financial details of the transaction.
To leverage AI to extract knowledge entities and graphs from structured and unstructured data, the acquisition will enable enterprises, Uniphore said in a statement. This, in turn, will ensure that for significantly better customer interactions the most relevant content is delivered to intelligent virtual assistants (IVAs), the statement added.
According to Yoav Dembak, Co-founder and CEO, Colabo, to help personalise customers’ experiences from when they contact a business to when their issue is resolved was that vision to build the startup.
After raising $400 million, Uniphore entered into the unicorn club earlier in February, in a Series E round led by US VC firm NEA, March Capital, and other existing investors, bringing its total funding to over half a billion ($610 million) and raising the startup’s valuation to $2.5 billion.
For enhanced low-code/no-code capabilities, Uniphore announced two major acquisitions — Emotion Research Lab for added capabilities in emotion AI and Jacada, in 2021..
Uniphore, founded in 2008 by Umesh Sachdev and Ravi Saraogi, built an automation platform that combines workflow automation, conversational AI, and RPA (Robotic Process Automation) with a business user-friendly.
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