Attributes an impressive 751% revenue growth over three years to groundbreaking AI-first innovations in customer service automation, strategic partnerships, and crucial executive appointments.
SAN MATEO, Calif., Nov. 21, 2024 -- Yellow.ai, a global leader in AI-first customer service automation, today announced that it has ranked 156th on the Deloitte Technology Fast 500™, a ranking of the 500 fastest-growing technology, media, telecommunications, life sciences, fintech, and energy tech companies in North America, now in its 30th year.
Yellow.ai achieved an impressive 751% growth globally from 2020 to 2023. In North America alone, the company saw a remarkable 133% increase in growth during CY 2022-2023.
"Being recognized on this prestigious list is an honor for us. We anticipate North America becoming our largest revenue base globally, with the maturity of this market driving significant traction for our solutions across diverse industries, from retail to utilities," said Raghu Ravinutala, CEO & Co-founder of Yellow.ai. "At Yellow.ai, we view AI as the essential GPS guiding customer service to its highest potential. As we relentlessly pursue our vision of achieving fully autonomous customer service, we are excited about the transformative impact of our solutions on enterprises and their customers alike."
This revenue growth can be attributed to Yellow.ai's commitment to pioneering innovations in AI-first customer service solutions. A notable one is the recent launch of VoiceX, which features LLM-powered voice technology with latencies as low as 1.3 seconds. VoiceX-powered AI agents efficiently manage large volumes of customer queries while ensuring high-quality, natural, and context-aware interactions. It is further fueled by an expanding customer base, with Yellow.ai adding over 20 new enterprise customers in North America this year, including Mitsubishi Motor Sales of Canada INC, Logitech, iFly, and InnerScope Hearing Technologies. The company has also established strategic global partnerships with industry leaders such as HCLTech, Infosys and Hexaware, and made key executive appointments in North America and other markets to strengthen its leadership team.
Yellow.ai previously ranked 13th in the Bay Area and 88th in North America as a Technology Fast 500 award winner for 2023.
"Yellow.ai's impressive growth is a testament to its ability to innovate and execute in the rapidly evolving AI-driven customer experience space. I believe their commitment to delivering cutting-edge solutions, like VoiceX, positions them to capitalize on the growing demand for AI agents in the CX space," observes Jai Das, President, Partner, and Co-founder at Sapphire Ventures and Investor in Yellow.ai.
"For 30 years we've been celebrating companies that are actively driving innovation. The software industry continues to be a beacon of growth, and the fintech industry made a strong showing on this year's list, surpassing life sciences for the first time," said Steve Fineberg, Vice Chair, U.S. Technology Sector Leader, Deloitte. "Significantly, we also saw a breakthrough in performance of private companies, with the highest number of private companies named to the list in our program's history. This year's winners have shown they have the vision and expertise to continue to perform at a high level, and that deserves to be celebrated."
Looking ahead to 2025, Yellow.ai will advance its vision of achieving fully autonomous customer service by expanding the capabilities of its intuitive AI agents and comprehensive suite of automation solutions. Key innovations in the roadmap include enhancements to Analyze for deeper, actionable insights across voice and text channels to help boost containment rates and SOP adherence; enhancements to VoiceX for more refined speech clarity, faster response times, and optimized latency; and upgrades to Agentic Builder, which will simplify the creation of AI agents with guidance from AI co-pilots and have gen AI-driven upgrades around management of workflows, knowledge bases and integrations. Additionally, there will also be new offerings like Discovery - a tool that converts human-agent conversations into AI automation opportunities, allowing businesses to identify key areas for automation and further improve their customer service.
About the 2024 Deloitte Technology Fast 500
Now in its 30th year, the Deloitte Technology Fast 500 provides a ranking of the fastest-growing technology, media, telecommunications, life sciences, fintech, and energy tech companies — both public and private — in North America. Technology Fast 500 award winners are selected based on percentage fiscal year revenue growth from 2020 to 2023.
In order to be eligible for Technology Fast 500 recognition, companies must own proprietary intellectual property or technology that is sold to customers in products that contribute to a majority of the company's operating revenues. Companies must have base-year operating revenues of at least US$50,000, and current-year operating revenues of at least US$5 million. Additionally, companies must be in business for a minimum of four years and be headquartered within North America.
About Yellow.ai
Yellow.ai empowers enterprises to create memorable customer conversations through our generative AI-powered customer service automation platform. Our vision is to drive towards the future of fully autonomous customer support that unlocks unparalleled efficiency and significantly reduces operational costs. Headquartered in San Mateo, Yellow.ai serves 1100+ enterprises, including Sony, Domino's, Hyundai, Ferrellgas, Verizon, McAfee and Randstad, across 85+ countries. Our platform is built on multi-LLM architecture and continuously trained on 16B+ conversations annually, enabling businesses to deliver elevated experiences and build lasting customer relationships. Founded in 2016 with offices across six countries, Yellow.ai has raised over $102 million from blue-chip investors.
About Deloitte
Deloitte provides industry-leading audit, consulting, tax and advisory services to many of the world's most admired brands, including nearly 90% of the Fortune 500® and more than 8,500 U.S.-based private companies. At Deloitte, we strive to live our purpose of making an impact that matters by creating trust and confidence in a more equitable society. We leverage our unique blend of business acumen, command of technology, and strategic technology alliances to advise our clients across industries as they build their future. Deloitte is proud to be part of the largest global professional services network serving our clients in the markets that are most important to them. Bringing more than 175 years of service, our network of member firms spans more than 150 countries and territories. Learn how Deloitte's approximately 460,000 people worldwide connect for impact at www.deloitte.com.
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