Conversational AI platform specialised for financial services sector Posh Technologies has closed a $27.5 million Series A funding round led by Canapi Ventures.
Posh intends to invest new funds into product research and development, alongside the expansion of its global team.
Karan Kashyap, Co-founder and CEO of Posh, said:
“AI-powered digital customer experience is a must in augmenting web and mobile channels. Up until now, only the large financial institutions could engage in such a solution. Now it’s available to financial institutions of all sizes, serving all communities.”
“We don’t accept that the best technology is exclusive to businesses with the biggest balance sheets. Posh’s AI acts as a real-time partner for any financial institution to better serve their customers through a seamless conversational experience.”
Posh’s offering includes voice solutions, chat bots for both website and mobile apps that replaces fial pads and serves as the entry point in customer calls.
The company’s AI platform makes it easy for financial institutions to deal with their customer’s transactional commands, answer FAQs, and give the customer-facing staff additional support.
Kashyap added: “We are thrilled to work with investors that bring deep domain expertise, strong industry networks, and great empathy for the challenges and high stakes the financial industry is facing. We are proud to work with Canapi and our additional investors to accelerate our growth and impact on the industry.”
Posh serves over 50 enterprise companies from the financial sector, including the like of Salem Five Bank, Affinity Federal Credit Union, One Nevada Credit Union, and others.
