Kore.ai, headquartered in Orlando, is a company dedicated to developing enterprise conversational and AI generation platforms. It has raised $150 million in a new round of financing to accelerate product development and market expansion. The financing was led by growth equity firm FTV Capital, with participation from companies such as NVIDIA, Vistara Growth, Sweetwater PE, NextEquity, Nicola, and Beedie.
Kore.ai's foundation is built on over a decade of research in advanced AI technology, which forms the basis of the vision of its founder and CEO, Raj Koneru. This round of financing brings Kore.ai's total funding to $223 million, further solidifying its leading position in the rapidly growing enterprise AI field.
This funding comes against the backdrop of a surge in demand for AI-driven customer and employee experiences in the enterprise. According to Gartner, the revenue in this field is estimated to reach $377 billion by 2032. Kore.ai's open, no-code platform enables enterprises to easily develop and deploy AI assistants for common business use cases across industries such as banking, healthcare, and retail.
By positioning itself above infrastructure and model complexity, Kore.ai provides enterprises with a seamless path to implementing AI, supported by a commitment to security and choice. This strategic direction not only enhances Kore.ai's solutions but also meets the market's demand for AI solutions that deliver real value.
Koneru said, "With advancements in generative AI and large-scale language models, there is tremendous potential for enterprise operations and interactions. However, many companies face challenges in implementing AI effectively and responsibly. Our platform provides built-in guardrails that enable businesses of all sizes to harness the power of AI to create tangible value."
With over 400 Fortune 2000 enterprise clients, including AT&T, Coca-Cola, and Roche, Kore.ai supports 450 million automated interactions globally every day. The new financing will support the enhancement of capabilities in conversation, generation, and vertical AI applications to cater to specific industries.
"After evaluating numerous AI platforms, Kore.ai stood out with its mature enterprise capabilities, leadership vision, and tremendous growth potential," said Kapil Venkatachalam, partner at FTV Capital, a major investor.
As more companies experiment with AI systems, enterprise-level platforms like Kore.ai will be key in translating hype into real-world impact.
