SKIT, formerly known as Vernacular.ai, is an AI-first SaaS voice automation company. Its suite of speech and language solutions enable enterprises to automate their call centre operations. With over 10 million hours of training data, its product —Vernacular Intelligent Voice Assistant (VIVA) can currently respond in over 16 languages, covering over 160 dialects and replicating human-like conversations. Skit serves a variety of enterprise clients across diverse sectors such as banking and financial services, including insurance, securities and NBFCs, food and beverage, e-commerce, automotive, and travel and tourism. Some of the prominent clients are Axis Bank, Hathway, Porter and Barbeque Nation.
Recently, Skit announced it has secured $23 million as part of its Series B funding. The investment was led by WestBridge Capital with participation from Kalaari Capital and Exfinity Ventures, Angelist syndicate led by Aaryaman Vir Shah from Prophetic Ventures and Letsventure Syndicate led by Sense AI. The capital will be used for sales & marketing, building delivery capabilities, R&D to speed up innovation and further enhance the firm’s products while expanding globally.
The fundraising follows a Series A announcement in May 2020, led by Exfinity Ventures and Kalaari Capital, AngelList, with IAN Fund and LetsVenture also participating in the round. This Series B funding brings the startup’s total raise to $30 million. It plans to scale operations in both Indian and global markets. Since the last fundraise, Skit has been able to increase its revenue and customer growth by over four times, building a strong partner network across industries such as banking, insurance, ecommerce, consumer durables, travel & logistics, among others. The company has strengthened its workforce by over six times to prepare for future growth.
Sourabh Gupta, CEO and co-founder, Skit, said, “This investment comes when we are making strategic inroads into the US and South East Asian markets. Clients and investors alike have recognised the uniqueness and superiority of our product and continue to show confidence in our growth path.”