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Friday Fundings: Uniphore, Securonix, Instrumental

Uniphore Secures $400 million as Customer Service Bots Grow

Billions of dollars have been poured into the development of automated customer service technology in recent years. Most of the time this manifests as “bots” that answer questions on websites in the form of “live chat.” Uniphore is one of the fastest-growing companies in the space, and recently announced a $400 million Series E funding round.

This latest funding values the 14-year-old Palo Alto-based company at $2.5 billion. Uniphore says their products utilize both automated customer service interactions and the ability to incorporate live human representatives. The funds will be partly used to expand business in the Asian Pacific, Europe, and North America.

$1 Billion for Securonix Marks Cybersecurity’s Biggest Haul in 2022

Analysts say private capital has been flowing into cybersecurity companies as more people continue to work from home. Increased activity outside of a company’s secure central network provides cybercriminals with a broader area they can attack. That may be what’s attracting investors to Securonix, who offers XDR capabilities among other services.

XDR services, also known as extended detection and response, help predict when attacks might happen by monitoring data from activity logs. The services are said to offer companies a better understanding of their networks, and they’re considered highly scalable. Securonix announced a $1 billion funding round this week, which is cybersecurity’s largest raise since Lacework’s $1.3 billion round closed last year.

Instrumental Reports $50M Series C in Manufacturing Software Push

Launched by two former Apple (AAPL) engineers, Instrumental seeks to provide a software-based solution for evaluating manufacturing. The co-founders explain they had an epiphany while working on Apple Watches and iPhones. Rather than logging countless hours and airline miles flying to Asian factories, they aimed to create software that allowed for remote quality control.

That thought process led to Instrumental’s development in 2015. Its software assists companies when it comes to gathering data and determining how best to tweak the manufacturing process. In announcing this $50 million dollar funding round, Instrumental said they plan to focus on growth and hiring more workers. They currently have 75 employees.

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ABOUT Meg Richardson Meg Richardson is a writer specializing in markets, technology, and personal finance. She loves breaking down seemingly complex ideas and making them readable and interesting for everyone. She holds an MFA in writing from Columbia University. When she is not writing about finance, she enjoys running in Central Park and drawing cartoons.

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