Changing the way humans use computer systems, the conversational AI sector is expected to grow to an estimated $46 billion market globally by 2028. Betting big on this growth, London-based open source conversational experience platform OpenDialog has raised $5 million for creation of scalable and secure conversational applications.
The seed round of funding, raised in only four weeks, will enable the startup to develop its product and support its expansion plans in the U.K. and other major markets globally.
Founded in 2019 by Terry Walby, Dean Chapman and Ronald Ashri, the AI platform aims to design, develop and deploy smarter human-to-machine conversations. According to the company, its SaaS-based product with no-code conversation design helps businesses to create better customer experiences and is deployable immediately.
OpenDialog co-founder Terry Walby said: “Moving beyond the often painful experiences delivered by current chatbots and AI assistants, OpenDialog will enable businesses and consumers to realise the game-changing potential of conversational AI. The market has been crying out for a solution like this, one that not only drives real operational efficiencies but also enhances and joins up customer experience across a wide range of channels.”
Co-founder Ronald Ashri added: “Conversational AI is changing how humans use computer systems. OpenDialog, through a novel combination of AI techniques, introduces a new approach for facilitating natural, context-rich conversations with machines and makes these capabilities easily accessible to all enterprises.”