Kore.ai, an enterprise conversational and generative AI platform, has made headlines by raising $150 million in a funding round led by FTV Capital. The funding round also saw participation from Nvidia and existing investors such as NextEquity, Vistara Growth, Sweetwater PE, Nicola and Beedie.

As per the startup, the freshly raised funds will be used to accelerate its market expansion and innovation in AI.

Kore.ai | Enterprise Conversational and Generative AI Platform

Founded by Raj Koneru, Kore.ai is an enterprise-grade no-code platform that helps companies of all sizes power business interactions with AI safely and responsibly while driving significant revenue and cost savings.

Kore.ai, with its conversational virtual assistants to GenAI applications, offers purpose-built workflows, highly configurable tools, and a flexible, open architecture that is recognized as the leading approach by customers and analysts. These features give teams the ability to craft custom solutions or deploy pre-built, domain-trained virtual assistants across multiple industries like banking, retail, and healthcare, and a variety of functional roles, such as HR, IT, and others, to accelerate time-to-value.

Speaking about the development, Raj Koneru, Founder and CEO of Kore.ai, expressed his enthusiasm about the journey ahead. He highlighted the significance of the funding support received from FTV Capital.

Koneru, while highlighting the significant experience of FTV Capital, said,

“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.”

As per Koneru, Kore.ai has been working with advanced AI for a decade. Their deep technology expertise and market understanding put them in a prime position to take advantage of the momentum and to do AI right to meet growing customer needs.

Statement from the Investor

Commenting on the development, Kapil Venkatachalam, Partner at FTV Capital, said,

“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.”

The startup claims to automate 450 million interactions a day for about 200 million consumers and two million enterprise users worldwide. As per the startup, Fortune 2000 companies across a variety of industry verticals leverage its offerings to enhance their customer, employee, and contact center agent experiences and drive measurable ROI.

Their list of clients includes leading financial institutions, such as PNC Bank and large global banks, as well as major brands, including Coca-Cola, Airbus, AT&T, Cigna, and Roche.

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