Exotel Bets Big On Its New AI-Powered Solutions Suite, Eyes 50% Revenue Growth

Bengaluru-based cloud telephony and communications startup Exotel has rolled out an AI-driven solutions suite, The House of AI, for better engagement of businesses with customers.

The House of AI integrates Generative AI with natural language processing, a subfield of AI that allows computers to comprehend human language and respond. 

‘The House of AI’ solutions suite is powered by generative AI and natural language processing (NLP) technologies to streamline the use of large language models (LLMs). It supports various LLMs, allowing cloud or on-premise setup, and can select models to meet specific requirements, including text summarisation, sentiment analysis and translation, as per Exotel.

“This ability presented by ‘The House of AI’ enables a meticulous understanding of customer intent, emotional state and sentiment within every dialogue. We are confident that this will give businesses an unparalleled insight into customer conversations and help deliver impactful engagements,” said Anil Kumar, CTO, Exotel.

The startup claims to drive 70+ million conversations every day for more than 7,000 businesses like Ola, Swiggy, Flipkart, GoJek, Byju’s, Urban Company, HDFC Bank, Zomato and Oyo among others.

It further claims that the new rollout will help in driving its 50% revenue growth by 2025. 

Founded by Shivakumar Ganesan, Ishwar Sridharan, Siddharth Ramesh and Vijay Sharma, in 2011, Exotel is a cloud telephony platform that provides APIs for voice, messages and user verification services over voice telephony or internet communications.

In 2022, the startup raised $40 million in a Series D funding round, shortly after securing $35 million in a fundraise.

Exotel’s focus on developing and putting out new AI driven customer engagement tech goes back over three years when they acquired omnichannel cloud communication platform Cogno AI back in November 2021. It made the acquisition in lieu of the Mumbai based startup’s omnichannel conversational AI and collaborative browsing capabilities.

Subsequently, the company launched its first AI product, ExoMind, which allowed enterprises to create their own gen AI advanced chatbots. The cloud-based enterprise tool incorporates proprietary AI models and advanced generative AI capabilities to provide personalised customer interactions to brands.

In the same year, it also acquired contact software firm Ameyo.