Kore.ai lands $150M to fuel growth of conversational and GenAI solutions

Kore.ai, a leading provider of conversational AI solutions for enterprises, announced today that it has raised $150 million in funding led by FTV Capital to accelerate product development and fuel continued global expansion.

As more businesses seek to leverage the latest advances in artificial intelligence to transform customer and employee experiences, demand has skyrocketed for Kore.ai’s no-code platform and industry-specific AI applications. The fresh capital injection will enable the company to scale its AI-powered solutions across more markets and verticals worldwide.

According to CEO Raj Koneru, “this strategic investment is a vote of confidence in our vision to make AI accessible for all. Over the past year, we’ve seen an unprecedented level of interest from global brands who want to benefit from AI but lack the in-house expertise. Our open and flexible platform is uniquely positioned to help businesses of any size or industry gain value from technologies like conversational AI and GenAI.”

Koneru added that Kore.ai will channel the new funds primarily into R&D to enhance its platform’s modeling, personalization and enterprise integration capabilities. The company will also significantly expand its workforce at offices in North America, Europe and Asia Pacific.

Kapil Venkatachalam of lead investor FTV Capital commented, “Kore.ai has emerged as the clear leader in delivering responsibly-deployed AI solutions to enterprises. We’re excited to partner with them as they enter the next phase of sustained global growth.”

With over 400 customers already onboard including industry heavyweights like AT&T, Coca-Cola and Roche, Kore.ai is well on its way to becoming the de facto partner for organizations seeking to power next-gen customer and employee experiences through conversational AI and GenAI. This new round of funding empowers the company’s mission of making transformative AI accessible for all.