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Iron Pillar, a venture growth investor backing global companies building products from India, today announced its investment in Ushur, the no-code intelligent automation company based in Santa Clara with product development in Bengaluru.
Iron Pillar invested as part of the company’s $5-million extension to its $25-million Series B financing that closed in November 2020. This is the second investment from Iron Pillar Fund II, targeting growth stage cloud software companies. Iron Pillar is also an investor in well-known SaaS /cloud software companies like Uniphore, Servify and NowFloats.
Ushur’s Series B was led by Third Point Ventures with participation from existing investor, 8VC. The company and its board decided to extend the round to add Iron Pillar to its roster of investors, due, in large part, to Iron Pillar’s global network of customers and partners for Ushur.
Ushur uses natural-language processing and no-code automation to deliver “digital first” customer experience solutions for industries such as insurance, finance and healthcare. The platform automates interactions over web, mobile and email, transforming high-contact interactions into quick self-service workflows for the end user, significantly increasing engagement, reducing processing time and delivering customer delight in over 60 languages. Ushur’s product has been recognised globally, leading to over 200 per cent revenue growth in the past year with marquis customers.
“We’re thrilled to have Iron Pillar partner with Ushur in our mission to make digital customer experiences personal, convenient and satisfying at scale,” said Ushur CEO and co-founder Simha Sadasiva.
“It’s further proof that omni-channel, self-service engagements are the way of the future in insurance and beyond. We look forward to working closely with Iron Pillar to scale Ushur to new heights” said Mohanjit Jolly, Partner at Iron Pillar, adding “The Iron Pillar team is delighted to be investing in Ushur, and joining a remarkable team and co-investors in building a leader in intelligent automation for the enterprise. The Ushur team has taken process automation to the next level by embedding much needed intelligence in the workflows, with ease of application development and deployment for the business user. We are looking forward to a deep partnership with Ushur over the coming years and building a juggernaut in the space.”
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