London-based PolyAI raises €73.2 million to scale its enterprise conversational AI platform

PolyAI, a UK-based enterprise conversational AI company founded in 2017, has raised €73.2 million ($86 million) in Series D funding to develop its technology further and expand its global footprint. The round was co-led by Georgian, Hedosophia and Khosla Ventures, with participation from NVentures, NVIDIA’s venture capital arm, Sands Capital, Squarepoint Ventures, Citi Ventures, Point72 Ventures, and a £15 million investment from the British Business Bank.

PolyAI develops AI-powered voice agents designed to handle complex customer service interactions at scale. Its agents are capable of understanding intent, managing multi-step workflows such as authentication, bookings and payments, and integrating directly with enterprise systems. The company positions its technology as a way for large organisations to improve customer experience while significantly reducing operational costs.

According to a Total Economic Impact study by Forrester, PolyAI customers report a 391% return on investment, including average savings of $10.3 million. The company currently works with more than 100 enterprise customers across hospitality, retail, logistics and financial services, operating in 45 languages and over 25 countries. Its clients include FedEx, Marriott, UniCredit and Foot Locker.

The new funding will be used to further develop PolyAI’s proprietary technology, particularly its Agent Studio platform, with the aim of helping enterprises extract greater value and insight from every customer interaction.

CEO and Co-founder of PolyAI, Nikola Mrkšić, said: “This Series D financing is proof of the industry’s confidence in our abilities and the potential of our technology. This investment will kick-start the next stage of our growth cycle and ensure that we can continue to deliver best-in-class technology for enterprises looking to transform their customer and employee experience.”

Leandros Kalisperas, Chief Investment Officer at British Business Bank, said: “The UK has all the right components to be a world leader in AI, with strong technological talent and the venture market to back it up. For the UK to realise its AI ambitions, we must support fast-growing AI companies like PolyAI by providing them with the capital they need to succeed and grow here in the UK. This will help to ensure we benefit from their growth and success.”

Investment Director at British Business Bank, George Mills, said: “PolyAI is one of the UK’s homegrown AI champions. The company has demonstrated impressive results for its clients and its platform has vast cross-sector potential, which anyone who has spent hours on hold will know. We are delighted to be partnering with them in their next phase and excited to see their continued success.”

Chancellor of the Exchequer, Rachel Reeves, said, “We are investing in companies like PolyAI so we can grow the economy and create good jobs. Our backing, combined with our world-leading universities, strong private investment, and our AI Growth Zones makes the UK one of the best places in the world to build an AI start-up. By doubling eligibility thresholds for enterprise tax incentives, introducing a new three-year Stamp Duty holiday for firms that list in the UK, and maintaining the lowest rate of corporation tax in the G7, we are going further to attract the companies of the future.”

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