UPDATED 13:20 EST / JANUARY 30 2024

AI

Kore.ai rakes in $150M to build generative AI tools for global brands

Enterprise generative artificial intelligence platform developer Kore.ai Inc. today announced it has secured $150 million in strategic growth investment funding led by FTV Capital to accelerate market expansion for its chatbot builder technology.

Kore.ai targets enterprise customers and global brands in need of AI tools such as chatbots and workflow tools . It offers an enterprise-grade no-code platform that allows companies of all sizes that it says delivers business interactions with AI safely and responsibly within budget. These AI-driven experiences can be anything from conversational chatbots to generative AI applications such as product suggesters or virtual assistants.

The funding round was joined by AI chipmaker giant Nvidia Corp. and other existing backers, including Vistara Growth, Sweetwater PE, NextEquity, Nicola and Beedie. Kore.ai previously raised $73.5 million from an extended Series C round in November 2021, with backing from Vistara Growth, PNC Bank and Nvidia.

“We have been working with advanced AI for a decade now – our deep technology expertise and market understanding put us in a prime position to take advantage of the momentum and to do AI right to meet growing customer needs,” said Raj Koneru, founder and chief executive of Kore.ai. “Sitting above the infrastructure layer and LLM chaos, our open approach grants businesses freedom of choice with built-in guardrails for effective AI implementation.”

Kore.ai’s platform is built to be as intuitive as possible for users to access large language models from a high level without the need to understand complex workflows or logic. With a drag-and-drop interface that allows them to build a conversational interface and craft key elements such as prompts, messages and thought processes that go into generative AI chatbots. The platform also allows teams to collaborate and co-design workflows securely, which includes a mechanism for sharing designs with external audiences for feedback and approval.

Chatbots made with the platform can be fine-tuned for the organization or deployed from pre-built, domain-trained models for specific industries, such as banking, healthcare and retail. Users can easily build and manage virtual assistants for a variety of roles including information technology, human resources. They can also act as customer-facing guides or internal knowledge bases for employees.

Multiple Fortune 2000 companies currently use Kore.ai’s tools within their workflows to enhance their own customer and employee experiences. The company’s customers include major financial institutions including PNC Bank and large global banks, as well as global brands such as AT&T Inc., Cigna Group, Coca-Cola Co., Airbus SE and Roche Holding AG.

Image: Kore.ai

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