The AI-powered voice assistant startup PolyAI, backed by Nvidia (NASDAQ:NVDA), is increasingly focusing on the US market while maintaining its operations in the UK. Founded in 2017 by Nikola Mrkšić, Tsung-Hsien Wen, and Pei-Hao Su, the company has grown significantly, offering AI-driven voice automation solutions for enterprises. With a workforce exceeding 200 employees, PolyAI operates from multiple locations, including London, New York, San Francisco, and Belgrade. As the AI industry evolves, PolyAI is positioning itself to capture a larger share of the US market while leveraging its London base for international expansion.
Previously, discussions regarding London’s viability as a headquarters for tech startups have been ongoing. Many companies have debated whether the UK offers the optimal environment for scaling AI ventures, particularly when compared to the US. PolyAI’s decision reflects a broader trend of UK-founded tech firms seeking growth opportunities in the American market, where larger funding opportunities and enterprise adoption rates are prevalent. The increasing dominance of US clients in PolyAI’s revenue structure has played a substantial role in shaping its expansion strategy.
Why Is PolyAI Prioritizing the US?
The company’s leadership has emphasized that revenue distribution is a key factor in its strategic direction. Currently, over 70% of PolyAI’s revenue originates from the US, making it an essential market for the company’s growth. CEO Nikola Mrkšić highlighted London’s role as a bridge between Europe and the US, acknowledging the advantages of maintaining a presence in both regions.
Our future is predominantly American, just because of the market but I think a strength of London is that, in Britain as a whole, it’s always been that natural conduit between continental Europe and America. And I think we should lean into that.
What Role Does London Play in PolyAI’s Operations?
Despite shifting its focus toward the US, PolyAI continues to invest in its London office, which remains its largest location. While revenue growth is driving the US expansion, the UK office serves as an important hub for talent acquisition and research. Additionally, the company’s European positioning allows it to maintain relationships with businesses operating across different continents.
PolyAI secured $50 million in funding last year, led by Hedosophia and Nvidia’s NVentures, pushing its valuation close to $500 million. Such investments have enabled the company to expand its technological capabilities and explore further opportunities in AI-powered voice automation. The company’s ability to secure funding from both European and US investors highlights its significance in the AI sector.
As the AI industry continues to evolve, PolyAI’s expansion strategy demonstrates how startups navigate market demand and funding availability. While its revenue concentration in the US dictates its strategic direction, maintaining a presence in London ensures access to a diverse talent pool and research ecosystem. The balance between these markets will be critical as AI adoption accelerates worldwide.
