Conversational AI Startup Kore.ai Raises $70M in Funding

One of the top Enterprise Conversational AI startups, Kore.ai announced it has raised $50 million in a Series C funding round led by Vistara Growth and PNC. 

It has also secured another $20 million credit facility from Sterling National Bank which makes the total funding $70 million.

Conversational AI Startup Kore.ai Raises $70M in Funding
Image by Mohamed Hassan from Pixabay

What is Kore.ai?

Kore.ai offers a platform to create, test, and release voice and text-based virtual assistants for optimizing enterprise customer, agent, and employee experiences.

Platforms & Products

Platforms

Kore.ai offers platforms such as Experience Optimization (XO), Virtual Assistants, and Process Assistants.

Products

They also offer products such as ITAssist, HRAssist, AgentAssist, SearchAssist, and recently launched SmartAssist, the world’s first (as they claimed) AI-native end-to-end Contact Center as-a-Service (CCaaS) solution, and BankAssist, an omnichannel conversational assistant that automates the most common retail banking customer needs.

Official Statement from Kore.ai

“As customer expectations continue to rise, they increasingly expect the type of world-class experience that our customers deliver using our best-of-breed conversational AI-based XO platform.”

“We are absolutely thrilled to have such strong financial and strategic partners as investors, who can help guide us as we continue to grow exponentially in the market by enabling our customers to deliver extraordinary conversational AI experiences which result in  extraordinary outcomes.”

Raj Koneru, Founder and CEO of Kore.ai.

The company counts major brands like AT&T, eBay, and PNC as their clients.

Kore.ai also claimed that they have delivered optimized experiences for over 100 million enterprise consumers and 500K employees resulting in over $500 million in cost savings while improving CSAT by 20-30%.

Pratik Bhangire

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