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Yellow.ai
FormerlyYellow Messenger
Company typePrivate
IndustrySoftware
Founded2016 in Bangalore, India
FounderRaghu Ravinutala
Jayakishore Gollareddy
Rashid Khan
Headquarters
San Mateo, California
,
United States
Area served
Worldwide
Number of employees
900+ (2022[1])
ParentBitonic Technology Labs Pvt. Ltd.
Websiteyellow.ai

Yellow.ai, formerly known as Yellow Messenger, is an enterprise conversational AI platform[2] founded in 2016 and headquartered in San Mateo, California, USA. It is an Artificial intelligence platform that automates conversational experiences for customers and employees. It enables businesses to deliver human-like personalized interactions in the preferred language. The platform supports more than 135 languages.[3][4]

History

Yellow.ai was founded by Raghu Ravinutala, Jaya Kishore Reddy Gollareddy and Rashid Khan in 2016 in Bangalore, India. Raghavendra Ravinutala and Jaya Kishore Reddy Gollareddy had quit their full-time jobs to establish Yellow Messenger, and they met Rashid Khan at a college hackathon, and that's when the latter began working with them. In 2016, the company became a part of Microsoft's accelerator and SAP Startup studio.[5][6]

In April 2021, during Covid-19, the company built chatbots to help governments with vaccinations.[7] It launched Yellow Messenger Care to create Covid-19 help-related omnichannel chatbots, which helped NGOs and hospitals in their crisis management efforts.[8] In June 2021, the company rebranded itself from Yellow Messenger to Yellow.ai.[9]

Partnership and client base

In January 2019, the company collaborated with Microsoft to work on transforming its voice automation using Azure Al Speech Services and Natural Language Processing (NLP) tools.[10] In February 2022, the company partnered with Tech Mahindra to develop enterprise AI technology.[11] It partnered with the e-commerce company Unicommerce in July 2020.[12] In February 2022, Edelweiss General Insurance launched its AI Voice Bot, using Yellow.ai's technology.[13] Yellow.ai implemented its AI-based customer service technology in Urja, a virtual assistant launched by the public sector company BPCL.[14]

Its clients include Schlumberger, MG Motor, Accenture, Flipkart, Grab, Domino's Pizza , Procter & Gamble, Unilever, AXA, American International Group, Bajaj Finance, HDFC Bank, Asian Paints, Adani Capital, Sephora, Renault, Siemens, Bharat Petroleum Corporation Limited, Dr. Reddy's Laboratories, Concentrix and IndiGo.[3][15]

Funding

In June 2019, Yellow.ai completed a series A funding of $4 million led by Lightspeed Venture Partners and angel investors such as Phanindra Sama, founder of Redbus, Anand Swaminathan, senior partner, McKinsey & Company, Limeroad founder Prashant Malik, and Snapdeal founder Kunal Bahl.[15]

In April 2020, it raised $20 million in a series B round led by Lightspeed Ventures Partners and Lightspeed India Partners.[16] In August 2021, the company raised $78.15 million in its Series C funding round led by WestBridge Capital, Sapphire Ventures, Salesforce Ventures, and Lightspeed Venture Partners.[17] The company has raised a total of $102 million so far.[18]

Awards

The company won the Frost & Sullivan Technology Innovation Leadership Award in 2021.[19] Entrepreneur magazine named Yellow.ai the Best AI Startup of the Year at the Entrepreneur India Startup Awards 2022.[20] It was awarded Best Chat/Conversational Bot/Tool during the MarTech Leadership Summit 2022.[21] The Financial Express awarded it the Best Use of Conversational AI - Gold at the Financial Express FuTech Awards in 2022.[22] The company received an honorable mention in the automation solution of the Year category at the CCW Excellence Awards 2022.[23]

Forbes magazine added Yellow.ai's co-founder Rashid Khan to Forbes India 30 Under 30 2022[24] and Forbes Asia 30 Under 30 2022[25] lists as one of the young gamechangers disrupting the Enterprise Technology industry. Hurun Research Institute listed the company in its 'Future Unicorn Index 2022' list for India.[26]

See also

References

  1. ^ Ghosh, Debangana (October 18, 2022). "Conversational AI start-up Yellow.ai rolls out ESOP worth $43 million". Moneycontrol.com.
  2. ^ Chakraberty, Sumit (June 12, 2019). "Brands use chatbots to find a direct channel to consumers". Livemint.
  3. ^ a b Andersen, Ted (September 6, 2021). "This AI company's chatbot speaks 120 languages and is still learning more". Bizjournals.
  4. ^ Rizvi, Muzaffar (September 10, 2021). "AI-led automation set to fuel yellow.ai expansion globally". Khaleej Times.
  5. ^ Purkayastha, Banasree (June 23, 2022). "Yellow.AI: Offering human touch to overcome hurdles of platform and language". The Financial Express.
  6. ^ Khedekarmar, Naina (March 19, 2021). "Yellow Messenger: Artificial Intelligence-based app to discover, shop for products". Firstpost.
  7. ^ Arakali, Harichandan (February 14, 2022). "Rashid Khan: Building for the connected world". Forbes India.
  8. ^ "Yellow Messenger to build Covid-19 assistance chatbots". The Economic Times. April 28, 2021.
  9. ^ Sangani, Priyanka (June 21, 2021). "Yellow Messenger rebrands to yellow.ai; launches voice bots". The Economic Times.
  10. ^ "Microsoft, Yellow Messenger team up to transform voice automation solutions". Hindustan Times. January 19, 2021.
  11. ^ "Tech Mahindra partners with Yellow.ai to bolster enterprise customer experiences with conversational AI". The Economic Times. February 7, 2022.
  12. ^ Sil, Debarghya (July 2, 2020). "Unicommerce Partners With Yellow Messenger To Streamline Direct-to-Consumer Selling Operations for Brands". Entrepreneur.
  13. ^ "Edelweiss General Insurance launches AI Voice Bot for motor claim registrations". Business Line. The Hindu. February 3, 2022.
  14. ^ Rekhi, Dia (October 19, 2021). "Yellow.ai sees massive surge in clients through Covid-19 period". The Economic Times.
  15. ^ a b "Yellow Messenger raises Series A Funding of $4 mln from Lightspeed, others". Livemint. June 12, 2019.
  16. ^ Matney, Lucas (April 16, 2020). "Conversational AI startup Yellow Messenger raises $20M Series B from Lightspeed". Techcrunch.
  17. ^ "yellow.ai raises $78.15 million in Series C round". The Economic Times. August 4, 2021.
  18. ^ Abrar, Peerzada (August 4, 2021). "Conversational AI firm yellow.ai raises $78.15 mn in Series C round". Business Standard.
  19. ^ "Yellow.ai Recognized for 2021 Technology Innovation Leadership" (PDF). Frost & Sullivan. October 2021.
  20. ^ "Awards Winners 2022". Entrepreneur India. February 25, 2022.
  21. ^ "MarTech Leadership Awards - 2022".
  22. ^ "FuTech Awards 2022" (PDF). Indian Express. 2022.
  23. ^ "2022 CCW Excellence Awards winners". CCW.
  24. ^ "It was very fortunate to be a success just out of college: Rashid Khan—Forbes India 30 Under 30". Forbes India. February 14, 2022.
  25. ^ "Forbes Asia 30 Under 30". Forbes. 2022.
  26. ^ Bhalla, Kritti (June 29, 2022). "Zepto, Dunzo among the next 122 unicorns from India — here's the complete Hurun list". Business Insider.
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