Kore.ai, which is founded by Indian-born entrepreneur, Raj Koneru, is a prominent provider of enterprise conversational and generative AI platform technology. The startup has now announced a strategic growth investment of $150 million. Not so long ago, Pimento, the French GenAI startup also secured a $3.2M funding for transforming ideation and moodboarding.
This funding round secured by Kore.ai, led by FTV Capital, a seasoned investor in enterprise technology with a 25-year track record, strengthens Kore.ai’s position in the rapidly evolving AI landscape. Joining FTV Capital are NVIDIA, which plays a huge role in terms of technology back-up for the company, and existing investors Vistara Growth, Sweetwater PE, NextEquity, Nicola, and Beedie, highlighting the company’s potential and commitment to continuous innovation.
Riding the AI wave
With the conversational AI market projected to reach a staggering $377 billion by 2032, businesses are clamouring for innovative solutions to enhance customer experiences, streamline operations, and advancing the power of generative AI. Kore.ai’s no-code platform helps companies of all sizes leverage AI responsibly and safely, driving significant revenue and cost savings.
A differentiated platform for every need
From virtual assistants to GenAI applications, Kore.ai offers a robust platform featuring:
Purpose-built workflows: Tailored solutions for specific industries and roles.
Highly configurable tools: Flexibility to create custom AI experiences.
Open architecture: Freedom to choose LLMs and infrastructure based on unique needs.
This empowers businesses to craft custom solutions or deploy pre-built virtual assistants across various industries, accelerating time-to-value and boosting ROI.
Indian-born, Raj Koneru, founder and CEO of Kore.ai says, “With our deep expertise and market knowledge, we’re positioned to capitalise on the AI boom and deliver tangible value to customers. FTV Capital’s backing, with their extensive experience and network, empowers us to accelerate our growth and reach new heights.”
Kapil Venkatachalam, Partner at FTV Capital, said, “Kore.ai stood out with its proven platform, visionary leadership, and clear path to profitability. We’re excited to partner with such a high-calibre team and leverage our network to propel Kore.ai’s success.”
Global brands stand to benefit from Kore.ai’s advanced platform
Kore.ai enjoys wide adoption among Fortune 2000 companies across diverse industries, with notable clients including PNC Bank, AT&T, Cigna, Coca-Cola, Airbus, and Roche. This breadth of use suggests adaptability to various industry needs. The platform’s impact is further showcased by its daily automation of 450 million interactions for 200 million consumers and 2 million enterprise users worldwide.
Additionally, Kore.ai has demonstrated robust growth with consistent triple-digit year-over-year revenue increases. The company has also expanded its reach internationally, entering emerging markets in Asia Pacific, Europe, LatAm, and the Middle East. Notably, Kore.ai has secured a top position in Gartner’s Magic Quadrant for Enterprise Conversational AI Platforms for two consecutive years, further solidifying its reputation as a leader in the field.
The future of AI is powered by Kore.ai
With its advanced platform, experienced leadership, and growing global demand, Kore.ai is poised to revolutionise the way businesses interact with customers and employees. This $150 million investment fuels the company’s mission to democratise AI and advance organisations worldwide.
Our take on Kore.ai
This strategic investment in Kore.ai signals a pivotal moment in the AI landscape. As businesses increasingly embrace AI to gain a competitive edge and its impressive track record, global reach, and growing momentum, Kore.ai’s robust platform and commitment to responsible AI implementation position the company as a leader in shaping the future of customer and employee experiences.
