Kore.ai, a Conversational AI platform, has secured $150 million in funding, led by FTV Capital, with contributions from NVIDIA and existing investors like Vistara Growth, Sweetwater PE, NextEquity, Nicola, and Beedie. The fresh capital will be used to expand market presence and enhance AI technology. Raj Koneru, Kore.ai's Founder and CEO, emphasized their decade-long experience in advanced AI, positioning them well to meet growing customer needs and do AI right.
The no-code platform by Kore.ai is crucial for end-to-end customer and employee experiences, covering automated, human-assisted interactions, and generative AI applications. Raj Koneru highlighted the commitment to offering businesses freedom of choice and effective AI implementation. Positioned above the infrastructure layer, their approach provides freedom with built-in guardrails for AI implementation.
Gartner projects the conversational AI market to reach $377 billion in revenue by 2032, up from $66 billion in 2023. Kore.ai's virtual assistants and purpose-built workflows cater to sectors like healthcare, banking, retail, IT, and HR. FTV Capital's Kapil Venkatachalam expressed confidence in Kore.ai, citing their proven platform capabilities, visionary leadership, strong R&D focus, global customer base, and clear path to profitability.
Kore.ai, headquartered in Orlando, operates globally with offices in India, the UK, the Middle East, Japan, South Korea, and Europe. The platform serves over 400 Fortune 2000 companies worldwide, including notable customers such as PNC Bank, AT&T, Cigna, Coca-Cola, Airbus, and Roche. Currently handling 450 million daily interactions, Kore.ai is actively expanding in emerging markets like Asia Pacific, Europe, LatAm, and the Middle East.
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