Merger and Acquisition

Servify acquires AI Startup Jubi.ai

• ByStartupStory     |    January 6, 2023

In a cash and stock agreement, device management firm Servify has acquired AI-enabled engagement platform Jubi.ai. Jubi.ai will join Servify as a subsidiary after the transaction. While Subhadeep Bhattacharya and Souvik Das, the founders of Jubi.ai, will assume senior positions in Servify’s product and engineering teams, the whole Jubi.ai team will join the tech, product, and innovation divisions of the company. A few months prior to the development, Servify had received $65 Mn in a Series D fundraising round. In 2017, Jubi.ai was launched with the goal of automating sales and support discussions. It does this by utilising deep data and Natural Language Processing (NLP) capabilities, including chat, video, and vernacular commerce. The organisation has a significant presence in the financial services industry and has worked with numerous SDG-aligned social impact customers as well as companies including Bajaj, Mahindra, Bharti Axa, IDFC, and TATA.

Sreevathsa Prabhakar, Founder of Servify said, “We believe the future of customer experience and support is about deep empathy with a layer of automation. Interactions will not be on any app or portal leave alone call center, but on SMS or WhatsApp UI that’s already in the user’s hands. So all the support solutions have to be built around those interfaces; that’s where the Jubi solution comes in handy for us. We are super happy to welcome Subhadeep, Souvik and the entire team, as we see them sharing exactly the same philosophy like ours.”

 

“This is the perfect time for us to join hands with Servify, as more and more enterprises are looking to offer AI-driven engagement solutions to their consumers. Together, we’re certain that we can drive business transformations for all our partners. Servify, in my belief, can also be a significant contributor to the circular economy ahead – and thus happen to be a great fitment for our AI-led impact tech stack overall,” said Subhadeep Bhattacharyya, co-founder and CEO of Jubi.ai.

Sanam Rawal, a partner at Passion Connect, and Swati Gupta, a core team member (acquihire and acquisitions) at Passion Connect, comment on the transaction as follows: “The right candidates and connections with other startups make all the difference when it comes to growth. Between Servify and Jubi.AI, we saw a clear upward path with them joining hands since they complement each other so well, making it a great fit. We wish the founders the best of luck for their future!”

Following the transaction, every employee of Jubi.ai will join Servify’s Technology, Product, and Innovation functions, while the company’s founders, Subhadeep Bhattacharya and Souvik Das, will join the Product and Engineering leadership teams of Servify.

 

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