Kore.ai, an enterprise conversational and generative AI platform, has secured $150 million in funding, initiated by FTV Capital, a specialized growth equity investor in the sector. The investment round saw participation from NVIDIA and existing backers including Vistara Growth, Sweetwater PE, NextEquity, Nicola, and Beedie.
This significant funding underscores Kore.ai's commitment to advancing its AI-powered solutions for business interactions. With FTV Capital's backing and support from leading industry players like NVIDIA, Kore.ai is poised to further innovate and expand its platform, enabling enterprises to harness the power of AI for enhanced conversational experiences and improved operational efficiencies.
The fresh funding infusion will expedite Kore.ai's market reach and ongoing innovation in AI, amplifying its ability to provide substantial business and human benefits on a large scale.
Kore.ai furnishes an enterprise-grade, no-code platform designed to enable companies of all sizes to leverage AI for business interactions securely and responsibly, leading to substantial revenue growth and cost reductions.
Offering a range of solutions from conversational virtual assistants to GenAI applications, Kore.ai's platform stands out with purpose-built workflows, highly adaptable tools, and a flexible, open architecture, acclaimed by both customers and analysts.
This empowers teams to tailor bespoke solutions or deploy pre-built, domain-trained virtual assistants across diverse sectors like banking, healthcare, and retail, as well as various functional domains such as IT and HR, thereby expediting time-to-value.
“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 in order to meet growing customer needs,” said Raj Koneru, founder and CEO of Kore.ai.
“Sitting above the infrastructure layer and LLM chaos, our open approach grants businesses freedom of choice with built-in guardrails for effective AI implementation. As we look to enhance our Gen AI-powered innovations and drive wider adoption across a variety of market segments, we are pleased to have the backing of FTV Capital, a firm that has significant experience in our space and invaluable connections across the enterprise to augment our exciting growth trajectory,” he concluded.
“We’ve spent significant time examining the landscape and evaluating advanced-AI platforms, and Kore.ai stood out with its proven enterprise-grade platform capabilities, visionary leadership, strong R&D focus, established global customer base, and a clear path to profitability,” said Kapil Venkatachalam, partner at FTV Capital. “We’re excited to partner with such an experienced and high-caliber team that consistently delivers world-class innovations, and we look forward to leveraging our deep knowledge and network to catalyze Kore.ai’s success.”
Presently, Fortune 2000 enterprises spanning diverse industry sectors utilize Kore.ai to elevate customer, employee, and contact center agent experiences while achieving quantifiable ROI. Notable clientele encompasses premier financial institutions like PNC Bank, prominent global banks, and renowned brands such as AT&T, Cigna, Coca-Cola, Airbus, and Roche.