No-code is the name of the game in enterprise software, and today a startup, Ushur, that has made a platform for any business to form its AI-based customer communication flows with no coding, has announced new funding to boost its growth.
The startup has raised $25 million in a Series B funding round led by Third Point Ventures. Moreover, a previous investor, 8VC, is also participating. This brings the total money raised by Ushur to $36 million.
Ushur hasn’t disclosed its current valuation, but the company is growing at a fast pace. The startup is currently focusing on the insurance sector. It counts Irish Life, Aetna, Unun, and Tower Insurance as its customer building chatbots, automated email response flows, and tools for service agents to serve more people quickly. It also has APIs with integrations into ServiceNow, Jira and Slack, and Salesforce, which recently laid off 1000 employees due to the pandemic.
The company is now widening its influence to include financial services and telecom companies. The main plan here is to expand Ushur’s sales and marketing to grow its business.
Moreover, the company’s sales have increased due to the COVID-19 pandemic, CEO Sima Sadasiva stated in an interview.
No code solutions are software platforms that are made with all the minute coding behind the scenes and easy-to-use interface in front of users to knit the programs together, run calculations, and query databases without needing to know how to do it on the coding level, at a lower cost.
Sadasiva stated, “For every dollar which you spend on the RPA tool, you need to spend around $3 to $4 more for it, so we are quite competitive,” Sadasiva said.
Irish Life developed one service email. It reduced the inquiry processing time between 3 hours – 3 days to less than a second with 40% fewer resources.
Sadasiva stated, “We have already created hundreds of emails. However, they are like legos or building blocks. We provide the assembly kit to make new objects and shapes.”
There are several marketing companies that market themselves as low-code or no-code. However, not all of them deliver top-notch services like Ushur. The company is finding a lot of traction with the customers and investors.
Third Point Ventures Managing Partner Robert Schwartz, said in a statement, “They are at the right intersection of one of the biggest developments in the software world. Automation which feels quite personal yet delivers efficiencies to the enterprise. They provide a customer experience that favors the customer. They are doing a fantastic job with the execution.”
