- Kore.ai raises $150M to expand conversational AI solutions.
- Funding to accelerate market reach, product roadmap for chatbots, voice AI.
- Significant growth potential as demand rises for enterprise AI tech.
Kore.ai, a provider of no-code conversational AI solutions for enterprises, has raised $150 million in a new funding round to fuel its expansion.
FTV Capital led the strategic growth investment with participation from backers, including Nvidia, Sweetwater Private Equity, and others.
Enterprise AI solutions
The company offers chatbot and voice AI products focused on industries like banking, retail, and healthcare.
Its solutions are currently used by over 2 million enterprise users globally at major companies such as Coca-Cola, Airbus, and AT&T. Kore.ai plans to use the new capital to accelerate its market presence and product roadmap.
AI market’s bright future
“Our open approach grants businesses freedom of choice with built-in guardrails for effective AI implementation,” said Kore.ai founder and CEO Raj Koneru in a statement. The company has achieved triple-digit year-over-year revenue growth in recent years as demand for conversational AI tech rises.
Citing a Gartner report, Kore.ai noted that the conversational AI market is projected to reach $377 billion in revenue by 2032, up from $66 billion in 2023, presenting significant growth opportunities for providers in the space.
The new funding comes as enterprises increasingly embrace AI-powered chatbots and voice assistants to improve customer experience.
