Kore.ai Raises Growth Capital from Vistara Capital
ORLANDO, FL., November 13, 2019 — Kore.ai, the leading conversational AI platform provider, today announced it has secured growth capital from Vistara Capital Partners. This funding will support Kore.ai’s continued advancement of conversational AI technology for the enterprise sector and also accelerate its global growth initiatives.
Kore.ai offers an all-in-one conversational AI platform (as-a-service) that allows enterprises to build and deploy out-of-the-box or customized chatbots/virtual assistants for customers and workforces. It combines natural language processing, machine learning, and AI into enterprise-wide collaboration and automation through conversational interfaces, thus supporting the growing mandate for digital transformation.
“Kore.ai continues to make bold investments in its market-leading technology that enables organizations to discover new ways of engaging customers and ensuring enterprise-wide collaboration through exceptional conversational experience,” said Raj Koneru, Founder and CEO of Kore.ai. “With the flexible growth capital financing package provided by Vistara, Kore.ai is poised to further its vision of creating intelligent enterprises through conversational AI.”
The company is continually adding capabilities to its conversational AI platform to remain a leader in the industry while bringing other targeted solutions to the AI market that is seeing exploding demand in areas such as.
- Enterprise digital assistants to improve employee experience and productivity, and
- Pre-built intelligent solution bots to tackle most common use cases including retail banking, IT help desk, HR, commerce, sales and customer service.
“As we looked at the market opportunity for Conversational AI, Kore.ai really stood out to us with its proven enterprise-grade platform that has been implemented with numerous highly discerning global customers, and recognized by leading industry analysts,” said Randy Garg, Founder & Managing Partner of Vistara Capital Partners. “We are also very excited to be backing this proven management team and look forward to continuing to support their accelerated growth over the years ahead.”
The Orlando-based company is seeing increasing demand with a robust pipeline of Global 2000 clients from a cross section of industries and geographies. Leading players in financial services, telecom, high technology, healthcare, insurance, hospitality and other industries have leveraged the Kore.ai platform’s technological virtuosity and rich feature-set to deploy Conversational AI powered chatbots across several use cases such as customer service, IVR call center, IT services management, HR, knowledge management, IoT and smart automation.
Marlin & Associates acted as the exclusive strategic and financial advisor to Kore.ai for this transaction.
Kore.ai is a market leading conversational AI technology partner for Global 2000 companies. It provides an enterprise-grade, end-to-end conversational AI platform available on-premise/cloud for building, deploying and managing secure, smart, conversational bots across more than 30 different digital and voice channels. Kore.ai partners with top ISVs and global system integrators for helping companies meet their digital transformation needs leveraging the power of enterprise chatbots.
Kore.ai has repeatedly won many global analyst acclaim and has been featured in Gartner Market Guide 2019 for Conversational Platforms, Gartner Market Guide for Virtual Customer Assistants 2019, IDC Innovators: Conversational AI Software Platforms 2018 and Everest Group’s Conversing with AI – Intelligent Virtual Agents Market Report 2019, among others.
About Vistara Capital Partners
Headquartered in Vancouver BC, Vistara Capital Partners provides highly flexible technology growth debt and growth equity solutions for companies across North America. Founded, managed, and funded by seasoned technology finance and operating executives, “Vistara” (Sanskrit for “expansion”) is focused on enabling the growth and expansion of its portfolio companies. Additional information is available at www.vistaracapital.com.