Kore.ai raises $150 mn to drive AI-powered experiences for customers

New Delhi : Enterprise conversational and generative AI technology provider Kore.ai on Tuesday announced $150 million in funding led by FTV Capital, a sector-focused growth equity investor.

The round also saw participation from Nvidia and existing investors such as Vistara Growth, Sweetwater PE, NextEquity, Nicola and Beedie. The new funding will accelerate Kore.ai’s market expansion and continuous innovation in AI to deliver tangible business and human value at scale.

"Sitting above the infrastructure layer and LLM chaos, our open approach grants businesses freedom of choice with built-in guardrails for effective AI implementation,” said Raj Koneru, founder and CEO of Kore.ai.

Gartner estimates the conversational AI market to reach $377 billion in revenue by 2032, up from $66 billion in 2023. Kore.ai provides an enterprise-grade, no-code platform to help companies of all sizes power business interactions with AI safely and responsibly while driving significant revenue and cost savings.

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

Kore.ai customers include leading financial institutions such as PNC Bank and large global banks, as well as major brands such as AT&T, Cigna, Coca-Cola, Airbus and Roche. The company automates 450 million interactions a day for about 200 million consumers and two million enterprise users worldwide.