SightCall, an augmented reality-powered visual assistance platform, has received $42 million in Series B funding. The funding was led by InfraVia Capital Partners, along with Bpifrance. SightCall plans to use the funds to double its R&D work and improve the platform’s AR and AI capabilities.
As companies across verticals including healthcare, insurance, industrial, and CPG have increased the rate and investment in digital transformation, the need for inclusive solutions that contribute to the capabilities of remote live-video combined with AR has transformed the way companies provide customer service.
“We created this market, we built and operate our own proprietary platform, and we partner with some of the most innovative companies around the world. This investment is in perfect alignment with our objectives to scale the company and extend our lead in technology to help our customers realize lasting digital transformation within their service organizations.” – SightCall, CEO, and Co-Founder Thomas Cottereau.
SightCall is set for global growth and selected this set of investors to help them achieve their intention of achieving $100M in annual recurring revenue. With technology alliances set up with some of the world’s top companies, including SAP, Microsoft, ServiceNow, and Salesforce, the tech platform allows remote specialists to examine a problem through video and provide guidance using AI and AR technology.
Around 200 of the Fortune 2000 at the moment are using SightCall, which has grown 100% year-over-year in annual recurring revenue for the FY 2019 and 2020. SightCall has invested massively in compliance and cybersecurity initiatives along with annual security audits to meet the rigorous requirements of Fortune 2000 companies.
“SightCall pioneered the market for AR-powered visual assistance, and they’re in the best position to drive the digital transformation of remote service. As a global leader, they can now expand their capabilities, making their interactions more intelligent and also bringing more automation to help humans work at their best.” – Alban Wyniecki, Partner at InfraVia Capital Partners.
“SightCall’s $42M Series B marks the largest funding round yet in this sector, and SightCall emerges as the undisputed leader in capital, R&D resources and partnerships with leading technology companies enabling its solutions to be embedded into complex enterprise IT. Businesses are looking for solutions like SightCall to enable customer-centricity at a greater scale while augmenting technicians with knowledge and expertise that unlocks efficiencies and drives continuous performance and profit.” – Antoine Izsak, Bpifrance.
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