In 2015, when the hype of messaging over WhatsApp was growing rapidly across the globe, everyone, defying all demographic barriers, was adopting chat applications. Despite this, even as large companies spent $3 trillion on customer support every year, only 3 per cent of customers were satisfied with the support provided.
“At the time of inception, conversational artificial intelligence (AI) itself was in its early stages with an unclear definition. And that allowed us to define the horizon and to build the product,” recollects Jaya Kishore Reddy, the Founder and Chief Technology Officer of Yellow.AI.
Local Beginner, Global Play
At present, Yellow.AI has footprints across the Middle East, South East Asia and the enterprise targets to expand to the US and Europe aggressively. An IIT Hyderabad alumnus, Reddy was passionate and keen to find a feasible solution in the area of user-enterprise conversation. As brainstorming with family and friends picked up, Reddy met Raghu Ravinutala, who is a co-founder for the company, and eventually started working on the same day.
In his previous role at Myntra, Reddy had worked on scaling multiple tech systems to support the company’s large scale portfolios such as EndOfReasonSales and Big Billion Days sale. Before this, he worked on an enterprise cloud platform that converts legacy applications to multi-tenanted SaaS (software as a service) products.
Always a Student
Acknowledging the scope of learning, Reddy said there were always reference-able products to look up to while building them as he worked with enterprise-tech and e-commerce as a part of his initial professional journey. Eventually, gaining expertise led him to think through to launch Yellow.AI.
The enterprise is sustainable in terms of financial performance and is generating contracted annual recurring revenue of $30 million.
Aiming to grow triple-fold this year, Yellow.AI has raised funds from Series A, B, and C which make a total of over $105 million from leading venture firms which include Lightspeed ventures (India and US), Salesforce ventures, West Bridge Capital and Sapphire ventures.
Going forward, the company has plans to tap the potential in focusing on product-led growth motion for small and medium businesses.