Kore.ai, which offers from conversational virtual assistants to generative AI applications, and a platform with no-code tools and solutions to do AI right has raised $150 million in funding to grow its market footprings and fast-track development its AI technology.
Commenting on the fund raising said Raj Koneru, Founder and CEO of Kore.ai said “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,”
The startup’s no-code platform enables end-to-end customer and employee experiences, encompassing automated, human-assisted interactions, and generative AI applications.
Kore.ai AI Platform offers freedom of choice with built-in guardrails
“Sitting above the infrastructure layer and LLM chaos, our 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,” added Koneru.
“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 a clear path to profitability,” said Kapil Venkatachalam, Partner at FTV Capital.
Orlando-based Kore.ai has a network of offices located in India, the UK, the Middle East, Japan, South Korea, and Europe. It serves over 400 Fortune 2000 companies across industries, with customers like PNC Bank, AT&T, Cigna, Coca-Cola, Airbus, and Roche.
The company stated it presently automates 450 million interactions daily, serving around 200 million consumers and two million enterprise users globally. It is also actively expanding in emerging markets such as Asia Pacific, Europe, LatAm, and the Middle East.
The latest round of funding was spearheaded by FTV Capital, along with NVIDIA and existing investors such as Vistara Growth, Sweetwater PE, NextEquity, Nicola, and Beedie.