Voiceflow Announces $15M Investment from OpenView Venture Partners

SAN FRANCISCO and TORONTO, Aug. 15, 2023 (GLOBE NEWSWIRE) -- Voiceflow, the industry's first and leading collaboration platform for building AI agents, today announced it has closed a $15 million round of financing led by OpenView, a leading venture capital firm focused on business software. With this latest investment round, Voiceflow will amplify its commitment to product innovation while helping conversational AI product teams design, test, and launch AI agents for customer support.

Demand for conversational artificial intelligence (AI) solutions has never been stronger as businesses look to introduce exceptional customer experiences that also free teams to focus on other business-critical tasks. According to Future Market Insights, the conversational AI industry is predicted to expand from $9.6 billion in 2023 to $47.6 billion in 2033.

Voiceflow is the world's most advanced conversational AI platform that allows teams of any size to collaboratively build agents of any scale and complexity. Voiceflow's platform focuses on collaboration and usability - enabling enterprise teams to work together when building AI Agents. Using Voiceflow, customers can save considerable time designing, testing, and deploying AI-agents. As a result, teams build better conversational agents for customer support automation, and other agent use cases, including internal task automation - at twice the speed of traditional platforms.

"When we launched Voiceflow in 2019, our mission was to democratize the creation of AI agents for the Alexa and Google Assistant platforms. Four years later, our mission has evolved to being the collaborative platform for enterprise product teams to build AI agents for any channel or use case. We're proud to serve over 130,000 global users and have customers from leading conversational AI teams, including dozens of the Fortune 500, such as US Bank, The Home Depot, and BMW," said Braden Ream, Founder and CEO of Voiceflow. "We are excited to work with the OpenView team, which brings unmatched experience working with businesses like ours. The firm's expertise will be a tremendous asset as we look to introduce critical new innovations and meet growing customer demand."

"In an incredibly short period, Voiceflow has not only introduced an innovative solution, it has seeded massive demand from name brand businesses looking to design, prototype, and build conversational AI agents," said Blake Bartlett of OpenView. "OpenView has deep experience helping companies that are ready for rapid expansion, and we are looking forward to helping Voiceflow maintain its impressive momentum as well as its position as the leading agent-building platform."

Voiceflow allows for integration with any existing natural language understanding (NLU) platform or technology stack, allowing teams to supercharge their design and collaboration capabilities without costly vendor replacements or technology changes. Using Voiceflow, customers can quickly and easily design complex conversations, share prototypes in minutes, and efficiently launch to production. Now, with the latest funding, Voiceflow will add a LLM-powered AI Builder, which gives customers a place to build and deploy large language model-powered agents for customer support and more.

Voiceflow has raised $35M today and increased its valuation by 50 percent since its last round in 2021. OpenView joins prior investors that include Felicis Ventures, Craft Ventures, True Ventures, Cathy Pearl, Google, Operator's Collective, Ripple Ventures, Amazon, and the CEOs of Figma, InVision, Webflow, Ada Support, Eventbrite, and ProductHunt.

About Voiceflow
Founded in 2019, Voiceflow's mission is to make it easy for anyone to build conversational AI agents across any channel. Founded by CEO Braden Ream, Voiceflow currently has more than 130,000 global users from businesses worldwide, including Amazon, JP Morgan, The Home Depot, Vodafone, State Farm, and many others. For more information on the company, please visit www.voiceflow.com.

Doug Fraim
[email protected]