Company:Yellow.ai

From HandWiki
Yellow.ai
FormerlyYellow Messenger
TypePrivately held company
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. 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 in 2016 by Raghu Ravinutala, Jaya Kishore Reddy Gollareddy and Rashid Khan, 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] In 2023, Yellow.ai announced the launch of its Dynamic Automation Platform (DAP) and revealed a new logo as part of a larger rebranding strategy.[10]

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.[11] In February 2022, the company partnered with Tech Mahindra to develop enterprise AI technology.[12] It partnered with the e-commerce company Unicommerce in July 2020.[13] In February 2022, Edelweiss General Insurance launched its AI Voice Bot, using Yellow.ai's technology.[14] Yellow.ai implemented its AI-based customer service technology in Urja, a virtual assistant launched by the public sector company BPCL.[15] The company has also formed partnerships with Accenture, Infosys, TCS, and Wipro.[16][17]

Its clients include Schlumberger, Sony,[18] Sephora, Flipkart, Grab, Skoda, Honda, Domino's Pizza, Bajaj Finance, Volkswagen, HDFC Bank, Ferrellgas, Indigo, Adani Capital,[19] Haldiram, Lulu Group, Bharat Petroleum Corporation Limited, Dr. Reddy's Laboratories and Concentrix.[20][21][22]

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.[23]

In April 2020, it raised $20 million in a series B round led by Lightspeed Ventures Partners and Lightspeed India Partners.[24] 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.[25] The company has raised a total of $102 million so far.[26]

Awards

The company won the Frost & Sullivan Technology Innovation Leadership Award in 2021.[27] Entrepreneur magazine named Yellow.ai the Best AI Startup of the Year at the Entrepreneur India Startup Awards 2022.[28] It was awarded Best Chat/Conversational Bot/Tool during the MarTech Leadership Summit 2022.[29] The Financial Express awarded it the Best Use of Conversational AI – Gold at the Financial Express FuTech Awards in 2022.[30] The company received an honorable mention in the automation solution of the Year category at the CCW Excellence Awards 2022.[31]

Forbes magazine added Yellow.ai's co-founder Rashid Khan to Forbes India 30 Under 30 2022[32] and Forbes Asia 30 Under 30 2022[33] 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.[34]

See also

References

  1. ↑ Ghosh, Debangana (October 18, 2022). "Conversational AI start-up Yellow.ai rolls out ESOP worth $43 million". Moneycontrol.com. https://www.moneycontrol.com/news/business/conversational-ai-start-up-yellow-ai-rolls-out-esop-worth-43-million-9348711.html. 
  2. ↑ Chakraberty, Sumit (June 12, 2019). "Brands use chatbots to find a direct channel to consumers". Livemint. https://www.livemint.com/news/business-of-life/brands-use-chatbots-to-find-a-direct-channel-to-consumers-11587304713613.html. 
  3. ↑ Andersen, Ted (September 6, 2021). "This AI company's chatbot speaks 120 languages and is still learning more". Bizjournals. https://www.bizjournals.com/sanfrancisco/news/2021/09/02/yellow-messenger-ai-san-mateo-chatbot.html. 
  4. ↑ Rizvi, Muzaffar (September 10, 2021). "AI-led automation set to fuel yellow.ai expansion globally". Khaleej Times. https://www.khaleejtimes.com/business/ai-led-automation-set-to-fuel-yellow-ai-expansion-globally. 
  5. ↑ Purkayastha, Banasree (June 23, 2022). "Yellow.AI: Offering human touch to overcome hurdles of platform and language". The Financial Express. https://www.financialexpress.com/industry/technology/yellow-ai-offering-human-touch-to-overcome-hurdles-of-platform-and-language/2569773/. 
  6. ↑ Khedekarmar, Naina (March 19, 2021). "Yellow Messenger: Artificial Intelligence-based app to discover, shop for products". Firstpost. https://www.firstpost.com/tech/news-analysis/yellow-messenger-artificial-intelligence-based-app-to-discover-shop-for-products-3679225.html. 
  7. ↑ Arakali, Harichandan (February 14, 2022). "Rashid Khan: Building for the connected world". Forbes India. https://www.forbesindia.com/article/30-under-30-2022/rashid-khan-building-for-the-connected-world/73647/1. 
  8. ↑ "Yellow Messenger to build Covid-19 assistance chatbots". The Economic Times. April 28, 2021. https://economictimes.indiatimes.com/tech/tech-bytes/yellow-messenger-to-build-covid-19-assistance-chatbots/articleshow/82293306.cms. 
  9. ↑ Sangani, Priyanka (June 21, 2021). "Yellow Messenger rebrands to yellow.ai; launches voice bots". The Economic Times. https://economictimes.indiatimes.com/tech/startups/yellow-messenger-rebrands-to-yellow-ai-launches-voice-bots/articleshow/83707906.cms. 
  10. ↑ "Yellow AI launches dynamic automation platform powered by generative AI for enterprises" (in en-US). 2023-04-25. https://venturebeat.com/ai/yellow-ai-launches-dynamic-automation-platform-powered-by-generative-ai-for-enterprises/. 
  11. ↑ "Microsoft, Yellow Messenger team up to transform voice automation solutions". Hindustan Times. January 19, 2021. https://tech.hindustantimes.com/tech/news/microsoft-yellow-messenger-team-up-to-transform-voice-automation-solutions-71611057600768.html. 
  12. ↑ "Tech Mahindra partners with Yellow.ai to bolster enterprise customer experiences with conversational AI". The Economic Times. February 7, 2022. https://economictimes.indiatimes.com/tech/information-tech/tech-mahindra-partners-with-yellow-ai-to-bolster-enterprise-customer-experiences-with-conversational-ai/articleshow/89400258.cms?from=mdr. 
  13. ↑ Sil, Debarghya (July 2, 2020). "Unicommerce Partners With Yellow Messenger To Streamline Direct-to-Consumer Selling Operations for Brands". Entrepreneur. https://www.entrepreneur.com/en-in/news-and-trends/unicommerce-partners-with-yellow-messenger-to-streamline/352736. 
  14. ↑ "Edelweiss General Insurance launches AI Voice Bot for motor claim registrations". The Hindu. Business Line. February 3, 2022. https://www.thehindubusinessline.com/money-and-banking/edelweiss-general-insurance-launches-ai-voice-bot-for-motor-claim-registration/article64964694.ece. 
  15. ↑ Rekhi, Dia (October 19, 2021). "Yellow.ai sees massive surge in clients through Covid-19 period". The Economic Times. https://economictimes.indiatimes.com/tech/startups/yellow-ai-sees-massive-surge-in-clients-through-covid-19-period/articleshow/87129297.cms. 
  16. ↑ Bhalla, Kritti (2020-05-18). "Accenture Acquires Byte Prophecy To Offer Enterprise Scale AI Solutions" (in en). https://inc42.com/buzz/accenture-acquires-byte-prophecy-to-offer-enterprise-scale-ai-solutions/. 
  17. ↑ "Tech Mahindra partners with Yellow.ai to bolster enterprise customer experiences with conversational AI". The Economic Times. 2022-02-07. ISSN 0013-0389. https://economictimes.indiatimes.com/tech/information-tech/tech-mahindra-partners-with-yellow-ai-to-bolster-enterprise-customer-experiences-with-conversational-ai/articleshow/89400258.cms?from=mdr. 
  18. ↑ "Sony has a new voice assistant in India: How it works and all other details". The Times of India. 2022-11-23. ISSN 0971-8257. https://timesofindia.indiatimes.com/gadgets-news/sony-has-a-new-voice-assistant-in-india-how-it-works-and-all-other-details/articleshow/95716119.cms. 
  19. ↑ Rekhi, Dia (2021-10-19). "Yellow.ai sees massive surge in clients through Covid-19 period". The Economic Times. ISSN 0013-0389. https://economictimes.indiatimes.com/tech/startups/yellow-ai-sees-massive-surge-in-clients-through-covid-19-period/articleshow/87129297.cms. 
  20. ↑ Andersen, Ted (September 6, 2021). "This AI company's chatbot speaks 120 languages and is still learning more". Bizjournals. https://www.bizjournals.com/sanfrancisco/news/2021/09/02/yellow-messenger-ai-san-mateo-chatbot.html. 
  21. ↑ "Yellow Messenger raises Series A Funding of $4 mln from Lightspeed, others". Livemint. June 12, 2019. https://www.livemint.com/companies/news/yellow-messenger-raises-series-a-funding-of-4-mln-from-lightspeed-others-1560346058739.html. 
  22. ↑ Rekhi, Dia (2021-10-19). "Yellow.ai sees massive surge in clients through Covid-19 period". The Economic Times. ISSN 0013-0389. https://economictimes.indiatimes.com/tech/startups/yellow-ai-sees-massive-surge-in-clients-through-covid-19-period/articleshow/87129297.cms?from=mdr. 
  23. ↑ "Yellow Messenger raises Series A Funding of $4 mln from Lightspeed, others". Livemint. June 12, 2019. https://www.livemint.com/companies/news/yellow-messenger-raises-series-a-funding-of-4-mln-from-lightspeed-others-1560346058739.html. 
  24. ↑ Matney, Lucas (April 16, 2020). "Conversational AI startup Yellow Messenger raises $20M Series B from Lightspeed". Techcrunch. https://techcrunch.com/2020/04/16/conversational-ai-startup-yellow-messenger-raises-20m-series-b-from-lightspeed/. 
  25. ↑ "yellow.ai raises $78.15 million in Series C round". The Economic Times. August 4, 2021. https://economictimes.indiatimes.com/tech/funding/yellow-ai-raises-78-15-million-in-series-c-round/articleshow/85037118.cms. 
  26. ↑ Abrar, Peerzada (August 4, 2021). "Conversational AI firm yellow.ai raises $78.15 mn in Series C round". Business Standard. https://www.business-standard.com/article/companies/conversational-ai-firm-yellow-ai-raises-78-15-mn-in-funding-121080401459_1.html. 
  27. ↑ "Yellow.ai Recognized for 2021 Technology Innovation Leadership". Frost & Sullivan. October 2021. https://www.frost.com/wp-content/uploads/2021/10/Yellow.ai-Award-Writeup.pdf. 
  28. ↑ "Awards Winners 2022". Entrepreneur India. February 25, 2022. https://www.entrepreneurindia.com/startup/awards_winner.php. 
  29. ↑ "MarTech Leadership Awards – 2022". https://www.kamikaze.co.in/martech/archives/awards/2022.html. 
  30. ↑ "FuTech Awards 2022". Indian Express. 2022. https://cdn-microsites.indianexpress.com/storage/files/063608abcc9c38f633fe.pdf. 
  31. ↑ "2022 CCW Excellence Awards winners". CCW. https://www.customercontactweekdigital.com/events-customercontactweekawards/2022-winners. 
  32. ↑ "It was very fortunate to be a success just out of college: Rashid Khan—Forbes India 30 Under 30". Forbes India. February 14, 2022. https://www.forbesindia.com/video/30-under-30-2022/it-was-very-fortunate-to-be-a-success-just-out-of-college-rashid-khanforbes-india-30-under-30/73673. 
  33. ↑ "Forbes Asia 30 Under 30". Forbes. 2022. https://www.forbes.com/30-under-30/2022/asia/enterprise-technology?profile=rashid-khan. 
  34. ↑ Bhalla, Kritti (June 29, 2022). "Zepto, Dunzo among the next 122 unicorns from India — here's the complete Hurun list". Business Insider. https://www.businessinsider.in/business/startups/news/zepto-dunzo-among-the-next-122-unicorns-from-india-heres-the-complete-hurun-list/articleshow/92545281.cms. 



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