The telecom industry is becoming increasingly reliant on machine-learning and artificial intelligence as it attempts to improve user experiences, deliver better and more personalized content and, in the long run, more efficiently use its capital.
Yet in the short term, operators are still trying to figure out how to commercialize machine learning. Zest Labs is one such operator trying to do just that, having raised $15 million from Insight Venture Partners and existing investors in a Series.
Zest AI, the company that’s developed an AI-powered speech-to-text service that was unveiled in 2016, has raised $15 million in funding from Insight Partners and existing investor Silverton Partners.
Insight Partners’ investment in Zest AI was made with a view to working together on further growth opportunities in AI, including investments in related technologies, and to help the company achieve its ambitious AI-led business objectives.
Zest AI, which develops chatbot technologies for enterprises and consumers, has secured $15 million in a Series C funding round led by Insight Venture Partners.
The round also included strategic investors, IA Ventures, a growth equity investor based in Silicon Valley, and Evolv Technology Fund II, an institutional venture capital fund focused on augmented reality (AR) and virtual reality (VR), and raised from prior investors.