Orlando-based Kore.ai, a company building enterprise conversational and generative AI platforms, has raised $150 million in a new funding round to accelerate product development and market expansion. The oversubscribed round was led by growth equity firm FTV Capital, with participation from NVIDIA, Vistara Growth, Sweetwater PE, NextEquity, Nicola and Beedie.
Kore.ai's foundation rests on a decade-long engagement with advanced AI technologies, underpinned by the vision of its founder and CEO, Raj Koneru. This round brings Kore.ai’s total funding to $223 million and further cements its position as a dominant player in the rapidly evolving enterprise AI sector.
The funding comes on the back of surging demand for AI-powered customer and employee experiences, estimated by Gartner to reach $377 billion in revenue by 2032. Kore.ai’s open, no-code platform allows companies to easily develop and deploy AI assistants for common business use cases across industries like banking, healthcare, and retail.
By positioning itself above the fray of infrastructure and model complexities, Kore.ai offers businesses a seamless pathway to implementing AI, underscored by a commitment to safety and choice. This strategic direction not only enhances Kore.ai's offerings but also aligns with the needs of a market eager for AI solutions that deliver real value.
“With advancements in generative AI and large language models, there is tremendous potential to transform enterprise operations and interactions,” said Koneru. “But many companies struggle with effective and responsible implementation. Our platform offers built-in guardrails so that businesses of all sizes can harness the power of AI to drive tangible value.”
With over 400 Fortune 2000 companies as customers including AT&T, Coca-Cola and Roche, Kore.ai already powers 450 million automated daily interactions globally. The new funding will support expanded capabilities across conversational, generative and vertical AI applications for specific industries.
“After evaluating many AI platforms, Kore.ai stood out for its proven enterprise capabilities, leadership vision and tremendous growth potential,” said Kapil Venkatachalam, Partner at lead investor FTV Capital.
As more companies pilot AI systems, enterprise-ready platforms like Kore.ai’s will be key to translating hype into real-world impact.