The corporate has backed the AI-equipped chatbot developer through a strategic alliance, boosting its latest round to $73.5m.
US-based automated conversational software developer Kore.ai increased its series C funding to $73.5m yesterday having secured an extension from graphics processing unit (GPU) producer Nvidia.
The company completed a $70m first close of the round in September this year, with the $50m equity portion co-led by financial services firm PNC and growth capital firm Vistara Growth and backed by NextEquity Partners, Nicola Wealth and Beedie Capital, while Sterling National Bank supplied a $20m debt facility.
Founded in 2013, Kore.ai has built an artificial intelligence (AI)-equipped virtual assistant platform that allows organisations to automate customer, employee and partner engagement efforts.
As part of the deal, Nvidia has formed a strategic partnership with Kore.ai, which will involve the latter integrating Riva, the corporate’s GPU-driven software development kit, in a bid to create an accurate and fast speech AI offering.
Raj Koneru, founder and chief executive of Kore.ai, said: “In addition to its…
