Kore.ai Stock

Kore.ai has raised $150 million to develop its conversational/generative artificial intelligence platform technology. The funding round, announced Tuesday (Jan. 30), was led by FTV Capital and included a contribution from chip maker Nvidia. "Kore.ai, an Orlando, Florida-based leader in conversational and generative AI technology, has successfully secured $150 million in a recent funding round spearheaded by FTV Capital, with a notable contribution from Nvidia. This significant infusion of capital is earmarked for the expansion of Kore.ai's generative AI platform, a revolutionary tool designed to enable companies of varying sizes to seamlessly integrate AI into their business processes. This integration aims to enhance business interactions, drive revenue, and achieve substantial cost savings while maintaining safety and responsibility. Kore.ai stands out by offering both custom solutions and pre-built virtual assistants, trained specifically for domains such as IT, human resources, banking, healthcare, and retail. This development follows closely on the heels of Sema4.ai's $30.5 million funding announcement, underscoring a burgeoning interest in leveraging AI for enterprise solutions. With the backdrop of an increasing AI arms race in the payments industry to combat fraud, as noted by Sovos' CTO Eric Lefebvre, Kore.ai's approach offers a promising avenue for businesses seeking to harness the power of AI responsibly and effectively.

Kore.ai, a company developing enterprise-focused conversational AI and GenAI products, today announced that it raised $150 million in a funding round led by FTV Capital, Nvidia, Vistara Growth, Sweetwater PE, NextEquity, Nicola and Beedie. Bringing the company’s total raised to ~$223 million, the new cash will be put toward product development and scaling up Kore.ai’s workforce.