Total amount raised
$223.5 Millions
Latest funding date
1/1/2024
Location
Kore.ai has successfully raised $150 million over multiple funding rounds, with the latest being a Series D round. The platform offers a comprehensive suite of AI solutions, including conversational and generative AI tools, designed to enhance workforce productivity, business processes, and customer service.
Keep reading to explore the intricacies of Kore.ai's fundraising journey and the investors backing this innovative platform.
What Is Kore.ai?
Kore.ai, founded in 2013 by Raj Koneru, is headquartered in Orlando, Florida. The company specializes in enterprise AI solutions designed to enhance workforce efficiency, streamline business processes, and improve customer service.
With a team of 501-1000 employees, Kore.ai offers a range of products including intelligent virtual assistants, AI-driven search tools, and no-code app builders. Their platform is trusted by over 200 partners and 400 Fortune 2000 companies.
For more detailed information, you can visit their Crunchbase profile or their official website.
How Much Funding Has Kore.ai Raised?
- Series B
- Amount Raised: Not publicly disclosed
- Date: February 2018
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further develop their AI platform and expand their market reach.
- Venture Round
- Amount Raised: Not publicly disclosed
- Date: November 2019
- Lead Investors: Vistara Growth
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support ongoing innovation and market expansion.
- Series C
- Amount Raised: $50M
- Date: September 2021
- Lead Investors: PNC, Vistara Growth
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale their AI solutions and enhance product offerings.
- Debt Financing
- Amount Raised: $20M
- Date: September 2021
- Lead Investors: Sterling National Bank
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To provide additional capital for operational expenses and growth initiatives.
- Series C
- Amount Raised: $3.5M
- Date: November 2021
- Lead Investors: NVIDIA
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To enhance AI capabilities and expand market presence.
- Series D
- Amount Raised: $150M
- Date: January 2024
- Lead Investors: FTV Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To fuel market expansion and continuous AI innovation.
Total Amount Raised: $223.5M. Current Valuation: Not publicly disclosed.
Key Investors
- FTV Capital
- Details: FTV Capital is a growth equity investment firm that focuses on high-growth companies in enterprise technology and services, financial services, and payments and transaction processing. They have a strong track record of helping companies scale and achieve significant market impact.
- Investment Focus Areas: Enterprise technology and services, financial services, payments, and transaction processing.
- Notable Investments: InvestCloud, LeanData, VPay.
- NVIDIA
- Details: NVIDIA is a leading technology company known for its graphics processing units (GPUs) and AI computing. They are at the forefront of AI innovation, providing hardware and software solutions that power some of the most advanced AI applications.
- Investment Focus Areas: AI computing, graphics processing, data centers.
- Notable Investments: Graphcore, Cerebras Systems, DataRobot.
- Vistara Growth
- Details: Vistara Growth is a growth equity firm that provides flexible growth capital to technology companies. They focus on helping companies achieve sustainable growth and market leadership.
- Investment Focus Areas: Technology companies, growth-stage investments.
- Notable Investments: Clio, Dejero, Thinkific.
- Sweetwater PE
- Details: Sweetwater PE is a private equity firm that invests in various sectors, including technology. They aim to support companies through strategic investments and operational expertise.
- Investment Focus Areas: Private equity investments in various sectors.
- Notable Investments: Not publicly disclosed.
- NextEquity
- Details: NextEquity is a venture capital firm that invests in technology and innovation-driven companies. They focus on supporting companies that have the potential to disrupt markets and create significant value.
- Investment Focus Areas: Technology companies, growth-stage investments.
- Notable Investments: Pinterest, SpaceX, Lyft.
What's Next for Kore.ai?
As Kore.ai looks to the future, the opportunities are vast. The AI market is projected to reach $377 billion by 2032, and Kore.ai is well-positioned to capitalize on this growth. With a strong customer base that includes major brands like AT&T, Coca-Cola, and Airbus, the company is poised to expand its market presence and enhance its AI-powered solutions.
Future fundraising opportunities seem promising, given the strong investor confidence demonstrated by the recent $150 million funding round led by FTV Capital. This influx of capital will likely fuel further innovation and market expansion, potentially attracting additional investments to support Kore.ai's ambitious growth plans.
However, challenges remain. Kore.ai must navigate a competitive landscape, ensuring its AI platforms remain scalable and reliable. Additionally, the company will need to address regulatory and ethical considerations related to AI deployment, all while maintaining its impressive growth trajectory.
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