ON (formerly GameOn Technology) recently announced a new round of funding and an updated mission to help enterprises and leading brands productize generative AI chat. And the company’s established leadership position in the AI chat ecosystem (combined with the growing marketplace for generative AI) prompted a strategic $25 million funding round, bringing the total funding raised to $80 million.
The notable participants in the round include Equiam; B3 Capital; Commonwealth Financial Network; and Mirae Asset Venture Investment – which previously co-led the company’s Series B.
With this new brand and with strategic capital to deploy, ON is now gearing up to utilize its success in the sports sector and expand its footprint in e-commerce, while also diversifying into consumer banking, healthcare, and publishing.
With the paradigm shift of mobile interactions fueled by conversational AI, the company plans to initiate a new era of chat (powered by the platform’s ability to seamlessly integrate generative AI for businesses). The company’s partners will benefit from more access to end markets and consumers via the chat, simplifying the process of productization while enhancing customer interactions.
ON works an extensive portfolio of partners that include luxury lifestyle brands such as Valentino and Armani. And some of the most renowned major league sports teams worldwide, including the New York Yankees, Las Vegas Raiders, and Philadelphia 76ers rely on the ON platform to connect with their fan base on a deeper level.
KEY QUOTES:
“ON has been a trailblazer in innovation, turning conversational AI into a potent revenue-generating asset. As we embrace our new identity, we are thrilled to embark on a journey that will significantly amplify our influence within the generative AI space. Companies have poured substantial resources into AI research and development, often without a clear path to effective implementation and monetization. With the ON platform, businesses spanning diverse industries can now confidently establish deeper and more impactful connections with their consumers.”
— Alex Beckman, CEO and co-founder of ON
“We are excited to continue to invest in and partner with ON as its rebranding marks an exciting new chapter for the company, positioning it at the forefront of generative AI solutions for brands across various industries. With a fresh vision and a proven track record, ON is poised to redefine how brands harness the power of AI.”
— Justin Kim, executive director at Mirae Asset Venture Investment
