Anjali Sharma
GG News Bureau
NEW YORK, 2nd Feb. Enterprise conversational and generative AI technology provider Kore.ai on Thursday announced $150 million in funding led by FTV Capital, a sector-focused growth equity investor.
The round saw participation from Nvidia and existing investors such as Vistara Growth, Sweetwater PE, NextEquity, Nicola and Beedie.
The new funding will accelerate Kore.ai’s market expansion and continuous innovation in AI to deliver tangible business and human value at scale.
Raj Koneru, founder and CEO of Kore.ai said “Sitting above the infrastructure layer and LLM chaos, our open approach grants businesses freedom of choice with built-in guardrails for effective AI implementation,”
Gartner estimates the conversational AI market to reach $377 billion in revenue by 2032, up from $66 billion in 2023.
Kore.ai provides an enterprise-grade, no-code platform to help companies of all sizes power business interactions with AI safely and responsibly while driving significant revenue and cost savings.
Kapil Venkatachalam, partner at FTV Capital stated 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.”
Kore.ai customers include leading financial institutions such as PNC Bank and large global banks, as well as major brands such as AT&T, Cigna, Coca-Cola, Airbus and Roche.
The company automates 450 million interactions a day for about 200 million consumers and two million enterprise users worldwide.
