Kore.ai raises $150 million
Kore.ai , an enterprise conversational and generative AI platform technology, announced $150 million in funding, bringing its total funding to $223.5 million. The strategic growth investment was led by FTV Capital, along with participation from NVIDIA and existing investors such as Vistara Growth, Sweetwater PE, NextEquity, Nicola and Beedie.
Kore.ai offers a no-code platform designed to enable businesses, regardless of their size, to integrate AI into their operations in a secure and cost-effective manner. Their platform encompasses a range of AI-powered solutions, from conversational virtual assistants to GenAI applications. It is known for its purpose-built workflows, highly customizable tools, and adaptable, open architecture, which have earned recognition from both customers and analysts. Kore.ai’s platform empowers teams to create tailored solutions or deploy ready-made, domain-specific virtual assistants in various industries like banking, healthcare, and retail, as well as across different functional roles such as IT and HR, thereby expediting the realization of benefits.
“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. 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.” – Raj Koneru, founder and CEO of Kore.ai.
“We’ve spent significant time examining the landscape and evaluating advanced-AI platforms, and Kore.ai clearly stood out with its proven enterprise-grade platform capabilities, visionary leadership, strong R&D focus, established global customer base and clear path to profitability. 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.” – Kapil Venkatachalam, partner at FTV Capital..
