Friday, June 14, 2024
HomeStart UpGenAI platform Kore.ai raises $150mn in funding

GenAI platform Kore.ai raises $150mn in funding

Kore.ai, a platform for enterprise conversational and generative AI, has successfully raised $150 million in funding. FTV Capital led the funding round, with contributions from Nvidia and existing investors like Vistara Growth, Sweetwater PE, NextEquity, Nicola, and Beedie.

“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,” Raj Koneru, founder and CEO of Kore.ai, said in a statement on Tuesday. 

The company announced that the funding will be utilized to speed up its market expansion and drive innovation in AI.

“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,” Kapil Venkatachalam, partner at FTV Capital, said. 

The company stated that it automates 450 million interactions daily, serving around 200 million consumers and two million enterprise users globally.

Subscribe To Newsletter

ICYMI

BRL Editor
BRL Editorhttps://businessreviewlive.com
Business Review Live covers finance, technology, travel, lifestyle, and everything in between through exclusive interviews and analysis, market statistics, digital video, and an expanded array of content formats.