Kore.ai Secures $150 Million for AI-Powered Growth

Conversational and Gen AI platform Kore.ai has successfully secured $150 million in funding. The investment was spearheaded by FTV Capital, along with NVIDIA and existing investors such as Vistara Growth, Sweetwater PE, NextEquity, Nicola, and Beedie. This has brought Kore.ai’s total capital to an impressive $223 million.

What is Kore.ai?

Kore.ai is a US-based conversational and generative AI platform. It takes an open approach allowing companies to choose the LLMs and infrastructure that best meet their business needs. The company’s visionary platform, no-code tools, and solutions help a variety of industries, allowing businesses to choose the best according to their needs. It is trusted by over 200 partners and 400 Fortune 2000 companies and helps them with their AI strategy. With its headquartered in Orlando, Kore.ai has a network of offices including in India, the UK, the Middle East, Japan, South Korea, and Europe.

Kore.ai Riding the AI Wave

The conversational AI market is all set to skyrocket, reaching $377 billion in revenue by 2032, up from $66 billion in 2023. In our world where 55% of organizations are either using or planning to take on GenAI tech, Kore.ai stands in the limelight, helping with customer service, marketing, and sales.

Raj Koneru, founder and CEO of Kore.ai, is confident that the company to meet the demands of customers. The latest funding will be useful in product development and in expanding Kore.ai’s workforce.

Market Recognition

Kore.ai has consistently shown triple-digit year-over-year growth, automating 450 million interactions daily for about 200 million consumers and two million enterprise users worldwide. The company has not only gained traction domestically but also saw rising demand from markets in Asia Pacific, Europe, LatAm, and the Middle East.

Kore.ai’s Industry Leadership

Acknowledged as a leader and innovator by many, including recognition in Gartner’s Magic Quadrant for Enterprise Conversational AI Platforms for two consecutive years, Kore.ai stands as a trusted provider. The company’s decade-long experience has solidified its position as a go-to solution for many companies.

Conclusion

In conclusion, with Kore.ai’s successful $150 million funding round with a total capital raised of $223 million, it is set to capitalize on the demand for AI-driven customer experiences. The investment, supported by industry giants helps Kore.ai to remain a leader. The company is committed to continuing innovation and its growth. With a strong client base, Kore.ai’s triple-digit year-over-year growth and global expansion show its prowess in meeting various industry needs.