Hyderabad-based Kore.ai has successfully raised $150 million in a funding round led by FTV Capital, with participation from NVIDIA and existing investors including Vistara Growth, Sweetwater PE, NextEquity, Nicola, and Beedie. This funding aims to support Kore.ai in its mission to drive AI-powered customer and employee experiences for global brands. The funds will be utilized to accelerate market expansion and continue innovation in AI to deliver tangible business and human value at scale.
Kore.ai is known for providing an enterprise-grade no-code platform that helps companies of all sizes integrate AI into their business interactions safely and responsibly, leading to significant revenue and cost savings. According to Gartner, the conversational AI market is expected to reach $377 billion in revenue by 2032, a substantial increase from $66 billion in 2023.
The company, which has been working with advanced AI for a decade, expressed confidence in its deep technology expertise and market understanding, positioning it well to capitalize on the growing momentum and meet the increasing needs of customers. Raj Koneru, the founder and CEO of Kore.ai, emphasized the company’s commitment to doing AI right.
Kore.ai’s platform currently automates 450 million interactions per day, serving around 200 million consumers and two million enterprise users globally. This latest funding round is expected to fuel Kore.ai’s growth and further establish its presence in the rapidly evolving AI landscape.