PolyAI Raises $14M in Funding

PolyAI, a London, UK-based provider of enterprise-ready voice assistants, raised $14m in funding.

The round was led by Khosla Ventures.

Led by Dr Nikola Mrkšić, Co-founder & CEO, PolyAI uses machine learning and AI to understand customers’ intent and identify accurate responses. Callers can speak to its voice assistants as they would to a human, questions do not need special formulation or keywords, unlike previous generations of voice technology.

The product offering is available in 50+ languages and is currently in use by banks, telcos, retailers and hospitality groups across Europe and North America.

A spinout of the University of Cambridge in the UK, the company currently has a dozen clients in the UK and US, spanning industries including hospitality, banking and having recently signed deals with Landry’s Entertainment, Greene King, Starling Bank and Viasat. 

PolyAI has raised a total of $28m to date. Khosla Ventures is joining Point72 Ventures, Amadeus Capital Partners, Passion Capital, Sands Capital and Entrepreneur First as investors.

It has 60+ employees across the US and the UK.