Palo Alto/Bangalore, February 09, 2021: Iron Pillar, a venture growth investor backing global companies building products from India, today announced its investment in Ushur, the nocode intelligent automation company based in Santa Clara with product development in Bangalore. Iron Pillar invested as part of the company’s $5M extension to its $25M 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 like 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 recognized globally, leading to over 200% 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”
Mohanjit Jolly, Partner at Iron Pillar, added “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.”
About Ushur
Ushur is the complete solution for intelligent automation. Companies such as HealthSpire, Irish Life and Unum use Ushur to automate claims and broker interactions and collect missing information for member journeys over email, apps, SMS and more using conversational AI and intuitive workflows. Ushur’s end-to-end platform accelerates time to value with features like a no-code visual builder, powerful tools for data extraction and integrations with back-end core systems. Ushur is headquartered in Santa Clara with an office in Bangalore and is backed by investors including Third Point Ventures, 8VC, Aflac Innovation Partners and Iron Pillar.
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Iron Pillar is a venture growth investor, focused on enterprise and consumer technology businesses that are building from India for the world. Since 2016, Iron Pillar has been working closely with extraordinary Founders to help them scale profitably from ~$10 million to $100 million+ in revenues. The firm has consistently executed this strategy across its marquee list of portfolio companies, including BlueStone, CureFoods, FreshToHome, Servify, Uniphore and others.
Beyond capital, Iron Pillar works alongside Founders to accelerate their business growth across three key areas: (1) expanding business development to global markets; (2) providing guidance on go-to-market strategies, including access to C-level talent; and (3) facilitating strategic capital introductions. The firm is dedicated to partnering with Founders on their journey to build transformational, resilient and valuable companies.
Iron Pillar has offices in Bangalore, Mumbai, Dubai and Palo Alto. Additional information is available at www.ironpillarfund.com