- Kasisto, a conversational AI platform company, announced that it has raised $15 million led by Rho Capital
Kasisto — the creators of KAI digital experience platform for the financial services industry — announced it has raised $15 million in Series B extension funding led by new investor Rho Capital Partners. Existing investors Oak HC/FT, Propel Venture Partners, Two Sigma Ventures, Commerce Ventures, and the Partnership Fund for New York City also joined the round. In conjunction with the funding round, Habib Kairouz of Rho Capital Partners are joining Kasisto’s board of directors.
Launched in 2013, Kasisto is quickly becoming a leading provider of Conversational AI for the financial services industry. And to date, it has global production deployments of its intelligent virtual assistants in more banks than any other Conversational AI company. The company’s customers include JPMorgan, Mastercard, Standard Chartered, TD, DBS, and several others. Plus Kasisto has developed the most advanced intelligent virtual assistants for fintechs and wealth management firms.
“Our mission has always been to imagine, build, and market the world’s most intelligent virtual assistants for the financial services industry. Where other solutions in our space deliver generic frameworks and unintelligent chatbots, we have intentionally invested tremendous energy training KAI to be financially intelligent, insightful and engaging, right out of the box. This allows financial institutions to deploy faster and deliver exciting, human-like digital experiences to their customers,” said Kasisto CEO Zor Gorelov in a statement. “This additional investment will allow us to accelerate our mission and make KAI available to all segments of the financial services industry. We are delighted to work with Rho Capital Partners, and all of our investors.”
There are more than 18 million users who have access to KAI through mobile apps, websites, messaging platforms, and voice-enabled devices every day. So banks are regularly seeing up to 90% of their customers’ questions handled by KAI without human intervention, a 50% reduction in live chats, and 4 times more digital engagement.
“Kasisto is unlike every other company in the Conversational AI space,” added Rho Capital Partners managing partner Kairouz. “We invested in Kasisto because they have a proven track record of success, have designed and built what is clearly the leading digital experience and Conversational AI platform for the financial services industry, and have an impressive team of AI experts, data scientists, as well as an experienced management group that are relentlessly focused on growing the business.”
KAI enables banks’ customers make better decisions and improve their overall financial wellness. And KAI is trained in the language of banking and finance so financial institutions can engage their customers using human-like virtual assistants that help them reimagine their customers’ own digital experience and overall customer journey.
KAI is an extensible and open platform designed to be quickly branded and integrated through well-published APIs. Plus KAI includes all the enterprise tools needed for customers to customize, measure, train, improve virtual assistants, and meets the needs of the most demanding financial services organizations.
With KAI, Kasisto’s customers experience benefits like operational efficiency improvements, reduced contact center costs, empower customers to self-serve, engage customers in ways that boost brand loyalty, enable lifestyle banking, champion financial well-being, and acquire consumers in ways that increase their lifetime value.