Bengaluru-based Ushur, a software company, has raised $50 million in a funding round led by Third Point Ventures. Its existing investors Iron Pillar, 8VC, Aflac Ventures and Pentland also joined. 

According to the Economic Times (ET) report, the company is planning to utilise the recently generated capital to diversify its software products. Additionally, the company is eying to develop new AI-driven models like Large Language Models (LLM) and Generative AI. 

With the intention to develop its product base, the company is also seeking to expand its services in multiple geographies like Europe, the Middle East, Africa, and India. It also wants to explore new industry verticals like government and military services. 

Talking about the latest development, “The previous generation of enterprise automation was designed for infrastructure processes… Enterprises have a massive appetite for modernizing the customer experience to maintain their market position. When combined with automation, this unlocks tremendous financial value. Ushur’s CXA cloud delivers on both of these promises,” Simha Sadasiva, the chief executive officer (CEO) of Ushur, said. 

“As enterprises in verticals such as insurance, healthcare and financial services run into the limits of the previous generation of business process automation, we see Ushur’s user experience-focused, AI-driven platform deliver massive value to their customers,” Rob Schwartz, managing partner (MP) at Three Point Ventures. 

“We have been long-time believers in Ushur’s unique approach of using AI-powered automation to elevate the enterprise customer experience while delivering operational efficiencies that are the need of the hour for every business leader,” said Mohanjit Jolly, partner at Iron Pillar.

Currently, Ushur runs its operations in countries like Australia, New Zealand, the United States and multiple other geographies in Europe. The company has claimed to have clients with $1 billion in revenue.