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Yellow.ai

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Yellow.ai
FormerlyYellow Messenger
Company 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
650+ (2024[1])
ParentBitonic Technology Labs Pvt. Ltd.
Websiteyellow.ai

Yellow.ai, formerly Yellow Messenger, is a multinational company headquartered in San Mateo, California focused on customer service automation.[2] It was founded in 2016 and provides an AI platform for automating customer support experiences across chat and voice. The platform supports more than 135 languages across more than 35 channels.[3][4]

History

[edit]

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 left their full-time jobs to establish Yellow.ai, and they met Rashid Khan at a college hackathon, where he began working with them. By January 2016, Yellow.ai had acquired 50,000 customers.[5] The same year, the company rolled out a model of the application for B2B companies. This version of the software and platform was intended to support voice and chat interactions for enterprises.[6] In 2016, the company joined Microsoft's accelerator program and SAP Startup Studio.[7][8]

In April 2021, amid the COVID-19 pandemic, the company developed chatbots to assist governments with vaccinations.[9] It launched Yellow Messenger Care to create omnichannel chatbots related to COVID-19 assistance, which helped NGOs and hospitals in their crisis management efforts.[10] In June 2021, the company rebranded itself from Yellow Messenger to Yellow.ai.[11] In 2022, Yellow.ai launched DynamicNLP, which was designed to eliminate the necessity for NLP model training.[12] 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.[13] The company also launched YellowG, a generative AI platform for automation workflows.[14] The company deployed over 120 generative AI bots for businesses in 2023.[2]

Partnership and client base

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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.[15] In February 2022, the company partnered with Tech Mahindra to develop enterprise AI technology.[16] It partnered with the e-commerce company Unicommerce in July 2020.[17] In February 2022, Edelweiss General Insurance launched its AI Voice Bot, using Yellow.ai's technology.[18] Yellow.ai implemented its AI-based customer service technology in Urja, a virtual assistant launched by the public sector company BPCL.[19] The company has also formed partnerships with Accenture, Infosys, TCS, and Wipro.[20][21]

Its clients include Sony,[22] Flipkart, Grab, Skoda, Honda, Domino's Pizza, Bajaj Finance, Volkswagen, HDFC Bank, Ferrellgas, Indigo, Adani Capital,[23] Haldiram, Lulu Group, Bharat Petroleum Corporation Limited, Dr. Reddy's Laboratories and Concentrix.[24][25][26]

Funding

[edit]

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.[27]

In April 2020, it raised $20 million in a series B round led by Lightspeed Ventures Partners and Lightspeed India Partners.[28] 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.[29] The company has raised a total of $102 million so far.[30]

Awards

[edit]

The company won the Frost & Sullivan Technology Innovation Leadership Award in 2021.[31] Entrepreneur magazine named Yellow.ai the Best AI Startup of the Year at the Entrepreneur India Startup Awards 2022.[32] It was awarded Best Chat/Conversational Bot/Tool during the MarTech Leadership Summit 2022.[33] The Financial Express awarded it the Best Use of Conversational AI – Gold at the Financial Express FuTech Awards in 2022.[34] The company received an honorable mention in the automation solution of the Year category at the CCW Excellence Awards 2022.[35]

Forbes magazine added Yellow.ai's co-founder Rashid Khan to Forbes India 30 Under 30 2022[36] and Forbes Asia 30 Under 30 2022[37] 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.[38] In 2023, co-founder & CEO, Raghu Ravinutala was recognized as one of the top 50 SaaS CEOs by The Software Report.[39] Yellow.ai ranked 13th in the Bay Area and 88th nationally on the 2023 Deloitte Technology Fast 500 for North America.[40]

See also

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References

[edit]
  1. ^ Ghosh, Debangana (October 18, 2022). "Conversational AI start-up Yellow.ai rolls out ESOP worth $43 million". Moneycontrol.com.
  2. ^ a b Roy, Annapurna (January 23, 2024). "Yellow.ai deploys 30% of global generative AI bots domestically". The Economic Times. ISSN 0013-0389. Retrieved March 3, 2024.
  3. ^ 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. ^ Roy, Debroop (June 2, 2020). "Using Artificial Intelligence, This Start-Up Is Helping Enterprises Connect Better". Entrepreneur. Retrieved March 3, 2024.
  6. ^ Bardhan, Saptak (February 9, 2023). "Artificial Intelligence Take-Over". Entrepreneur. Retrieved March 3, 2024.
  7. ^ Purkayastha, Banasree (June 23, 2022). "Yellow.AI: Offering human touch to overcome hurdles of platform and language". The Financial Express.
  8. ^ Khedekarmar, Naina (March 19, 2021). "Yellow Messenger: Artificial Intelligence-based app to discover, shop for products". Firstpost.
  9. ^ Arakali, Harichandan (February 14, 2022). "Rashid Khan: Building for the connected world". Forbes India.
  10. ^ "Yellow Messenger to build Covid-19 assistance chatbots". The Economic Times. April 28, 2021.
  11. ^ Sangani, Priyanka (June 21, 2021). "Yellow Messenger rebrands to yellow.ai; launches voice bots". The Economic Times.
  12. ^ Dey, Victor (August 18, 2022). "Can conversational AI skip NLP training? Yellow AI has a plan". VentureBeat. Retrieved March 3, 2024.
  13. ^ "Yellow AI launches dynamic automation platform powered by generative AI for enterprises". VentureBeat. April 25, 2023. Retrieved June 6, 2023.
  14. ^ Dey, Victor (May 18, 2023). "Yellow AI launches YellowG, a generative AI platform for automation workflows". VentureBeat. Retrieved March 3, 2024.
  15. ^ "Microsoft, Yellow Messenger team up to transform voice automation solutions". Hindustan Times. January 19, 2021.
  16. ^ "Tech Mahindra partners with Yellow.ai to bolster enterprise customer experiences with conversational AI". The Economic Times. February 7, 2022.
  17. ^ Sil, Debarghya (July 2, 2020). "Unicommerce Partners With Yellow Messenger To Streamline Direct-to-Consumer Selling Operations for Brands". Entrepreneur.
  18. ^ "Edelweiss General Insurance launches AI Voice Bot for motor claim registrations". Business Line. The Hindu. February 3, 2022.
  19. ^ Rekhi, Dia (October 19, 2021). "Yellow.ai sees massive surge in clients through Covid-19 period". The Economic Times.
  20. ^ Bhalla, Kritti (May 18, 2020). "Accenture Acquires Byte Prophecy To Offer Enterprise Scale AI Solutions". Inc42 Media. Retrieved June 6, 2023.
  21. ^ "Tech Mahindra partners with Yellow.ai to bolster enterprise customer experiences with conversational AI". The Economic Times. February 7, 2022. ISSN 0013-0389. Retrieved June 6, 2023.
  22. ^ "Sony has a new voice assistant in India: How it works and all other details". The Times of India. November 23, 2022. ISSN 0971-8257. Retrieved June 6, 2023.
  23. ^ Rekhi, Dia (October 19, 2021). "Yellow.ai sees massive surge in clients through Covid-19 period". The Economic Times. ISSN 0013-0389. Retrieved June 6, 2023.
  24. ^ Andersen, Ted (September 6, 2021). "This AI company's chatbot speaks 120 languages and is still learning more". Bizjournals.
  25. ^ "Yellow Messenger raises Series A Funding of $4 mln from Lightspeed, others". Livemint. June 12, 2019.
  26. ^ Rekhi, Dia (October 19, 2021). "Yellow.ai sees massive surge in clients through Covid-19 period". The Economic Times. ISSN 0013-0389. Retrieved June 6, 2023.
  27. ^ "Yellow Messenger raises Series A Funding of $4 mln from Lightspeed, others". Livemint. June 12, 2019.
  28. ^ Matney, Lucas (April 16, 2020). "Conversational AI startup Yellow Messenger raises $20M Series B from Lightspeed". Techcrunch.
  29. ^ "yellow.ai raises $78.15 million in Series C round". The Economic Times. August 4, 2021.
  30. ^ Abrar, Peerzada (August 4, 2021). "Conversational AI firm yellow.ai raises $78.15 mn in Series C round". Business Standard.
  31. ^ "Yellow.ai Recognized for 2021 Technology Innovation Leadership" (PDF). Frost & Sullivan. October 2021.
  32. ^ "Awards Winners 2022". Entrepreneur India. February 25, 2022.
  33. ^ "MarTech Leadership Awards – 2022".
  34. ^ "FuTech Awards 2022" (PDF). Indian Express. 2022.
  35. ^ "2022 CCW Excellence Awards winners". CCW.
  36. ^ "It was very fortunate to be a success just out of college: Rashid Khan—Forbes India 30 Under 30". Forbes India. February 14, 2022.
  37. ^ "Forbes Asia 30 Under 30". Forbes. 2022.
  38. ^ Bhalla, Kritti (June 29, 2022). "Zepto, Dunzo among the next 122 unicorns from India — here's the complete Hurun list". Business Insider.
  39. ^ jirehl (October 24, 2023). "The Top 50 SaaS CEOs of 2023 | The Software Report". Retrieved February 13, 2024.
  40. ^ "2023 Technology Fast 500 Award Winners". Deloitte United States. Retrieved March 3, 2024.
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