Kore.ai, a leading developer of enterprise generative artificial intelligence platforms, has secured $150 million in strategic growth investment funding. The funding, led by FTV Capital, aims to expedite the market expansion of Kore.ai’s innovative chatbot builder technology, designed to cater to the needs of enterprise customers and global brands seeking advanced AI tools.
Kore.ai’s enterprise-grade no-code platform offers diverse AI-driven experiences, including conversational chatbots, workflow tools, product suggesters, and virtual assistants. With an emphasis on responsibly delivering business interactions with AI and within budget, the platform has gained recognition for its intuitive approach and drag-and-drop interface.
“We have been working with advanced AI for a decade now – our deep technology expertise and market understanding put us in a prime position to take advantage of the momentum and to do AI right to meet growing customer needs,” said Raj Koneru, founder and CEO of Kore.ai.
Strategic Investors and Previous Funding
The funding round saw the participation of notable backers, including AI chipmaker Nvidia Corp., alongside existing investors such as Vistara Growth, Sweetwater PE, NextEquity, Nicola, and Beedie. Nvidia, a giant in AI chip manufacturing, strengthens Kore.ai’s strategic position in the rapidly evolving AI landscape.
Kore.ai had previously raised $73.5 million in an extended Series C round in November 2021, with support from Vistara Growth, PNC Bank, and Nvidia. The company’s commitment to advancing AI technology has positioned it as a key player in the industry.
Empowering Users with Intuitive Design
Kore.ai’s platform is engineered for user-friendly accessibility, enabling users to harness the power of large language models without delving into complex workflows or logic.
The drag-and-drop interface facilitates the construction of conversational interfaces, allowing teams to collaborate and co-design workflows securely. The platform’s versatility extends to fine-tuning chatbots for specific industries like banking, healthcare, and retail.
Kore.ai boasts a clientele that includes major financial institutions like PNC Bank and global brands such as AT&T Inc., Cigna Group, Coca-Cola Co., Airbus SE, and Roche Holding AG. The company’s tools are integrated into workflows, enhancing customer and employee experiences for multiple Fortune 2000 companies.
AI Market Projections and Kore.ai’s Impact
Gartner estimates the conversational AI market will surge to $377 billion in revenue by 2032, a significant increase from $66 billion in 2023. Kore.ai plays a pivotal role in this growth, automating a staggering 450 million interactions daily for approximately 200 million consumers and two million enterprise users globally.
The recent $150 million funding infusion positions Kore.ai to drive continuous innovation in AI, delivering tangible business and human value at scale. As the company focuses on global expansion, the investment solidifies Kore.ai’s commitment to shaping the future of AI-powered customer and employee experiences.
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