Kore.ai, an enterprise conversational and generative AI platform technology startup, Tuesday announced that it has raised $150 million in a funding round led by growth equity investor FTV Capital.
The financing also saw participation of NVIDIA and existing investors such as Vistara Growth, Sweetwater PE, NextEquity, Nicola and Beedie, Kore.ai said in a statement.
Orlando-headquartered Kore.ai, which also has active operations in India, will use the funds to accelerate market expansion and continuous innovation in AI, the statement added.
Kore.ai claims to provide an enterprise-grade no-code platform to help companies of all sizes power business interactions with AI safely and responsibly while driving significant revenue and cost savings. The company claims to automate 450 million interactions a day for about 200 million consumers and two million enterprise users worldwide.
“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 in order to meet growing customer needs,” said Raj Koneru, founder and CEO of Kore.ai.
Gartner estimates the conversational AI market to reach $377 billion in revenue by 2032, up from $66 billion in 2023.