Kasisto, creators of KAI, the leading digital experience platform for the financial services industry, announced the close of its $15.5 million Series C funding round. The round was co-led by new investors Naples Technology Vendors (NTV) and NCR Corporation with continued participation from Kasisto’s current investors. The company’s total funding to date is $67 million.
The global conversational AI market is expected to grow from $4.2 billion to $15.7 billion by 2024, with a CAGR of 30.2%. One of the leading sectors driving the adoption of conversational AI is the financial services industry, with growing demand from banking customers for frictionless, intelligent, and hyper-personalised digital experiences.
Kasisto’s conversational AI powered platform, KAI, delivers the cognitive banking experience to more financial institutions than any other conversational AI vendor in the sector.
Zor Gorelov, CEO, Kasisto, said:
“The intelligent digital assistant has quickly become the centerpiece of the digital servicing and engagement strategy across the financial services industry. With KAI consistently delivering 85% containment rates, 50% reduction in customer service costs and 400% increase in digital engagement Kasisto is leading the charge to reshape this crucially important digital banking experience.”
“We are extremely appreciative of the support and confidence of our investors, customers and partners who continue to believe in Kasisto’s vision. Most importantly, I want to share my deep gratitude to all Kasisto staff who have made our journey possible, and through their hard work, creativity and dedication we have found our way to this important moment in our company’s history.”
Michael D. Hayford, president and chief executive officer, NCR Corporation, said: “We are committed to a digital first strategy for banking that delivers innovation and amazing customer experience throughout their entire journey across all channels.”
“Our investment in and partnership with Kasisto provides us an opportunity to personalize experiences leveraging their AI capabilities to deliver differentiated value for our clients.”
