AI-based voice assistants have attracted significant investor attention in recent times as enterprises seek to automate call centres and meet ever-increasing customer service demands. Reflecting this trend, London-based AI startup PolyAI has raised $86 million in a Series D funding round.
Strong Line-up of Global Investors
The funding round was co-led by Georgian, a Canadian B2B software investor, and Hedosophia, a London-based investment firm, alongside US venture capital firm Khosla Ventures. A wide mix of financial and strategic investors also participated, including NVentures, the venture capital arm of Nvidia; Sands Capital; Squarepoint Ventures; Citi Ventures; Point72 Ventures; and the British Business Bank, which invested £15 million (around $20.1 million).
The British Business Bank, a major limited partner in UK venture capital funds, plays a central role in supporting the country’s technology ecosystem and scaling high-growth companies.
Valuation Undisclosed, Total Funding Crosses $200m
PolyAI did not disclose its valuation following the Series D round. However, the company was valued at close to $500 million during its previous Series C round, when it raised $50 million led by Hedosophia and NVentures. Since its founding, PolyAI has raised more than $200 million in total funding.
Cambridge Spinout Focused on Enterprise Call Centres
A spinout from the University of Cambridge, PolyAI focuses on developing AI-powered voice assistants purpose-built for call centres and enterprise customer support. Its platform allows clients to manage thousands of customer interactions through automation while maintaining a natural, human-like conversational experience.
The company says its AI assistants handle millions of calls and, in many cases, are indistinguishable from human agents.
Enterprise Customers Across Multiple Industries
PolyAI works with more than 100 enterprise customers spanning hospitality, logistics, financial services and gaming. Key clients include Hilton and Marriott hotel chains, Las Vegas casinos, US logistics giant FedEx, and European financial institution UniCredit.
These organisations are increasingly turning to automation as call centres face persistent challenges such as high staff turnover, rising labour costs and growing demand for 24/7 customer support.
Human-Like Voice Technology and Customisation
PolyAI’s voice assistants use a combination of the company’s proprietary AI models and third-party models from leading AI developers such as OpenAI and DeepSeek. The startup has also collaborated closely with linguists to ensure its systems accurately replicate natural human speech patterns.
Enterprises can customise assistants by accent, tone and vocabulary, making them suitable for different regions and customer demographics. The technology can also perform complex tasks typically handled by human agents, including collecting payment details and processing sensitive information such as names, addresses and account numbers.
Funding to Drive Growth and Product Development
According to PolyAI, the new funding will be used to further develop its technology and accelerate growth, particularly by expanding its enterprise customer base. The company aims to capitalise on growing demand from large organisations seeking scalable, high-quality AI-driven customer service solutions.
Leadership and Government Backing
Nikola Mrkšić, co-founder and chief executive of PolyAI, described the funding round as a strong endorsement of the company’s vision and capabilities.
“This Series D financing is proof of the industry’s trust in our potential and the promise of our technology,” he said. “This investment will fuel our next growth stage and enable us to continue delivering best-in-class technology for enterprises transforming their customer and employee experience.”
The UK government also highlighted the investment’s significance. Chancellor of the Exchequer Rachel Reeves said the backing demonstrates the UK’s ambition to grow its AI economy through strong private investment, world-class universities and targeted AI Growth Zones.
London’s Position as an AI Innovation Hub
The latest funding round reinforces London’s status as a major centre for AI innovation, particularly in enterprise-focused applications where automation, scalability and efficiency are becoming strategic priorities.
