Kasisto, the company behind KAI, the industry’s leading digital experience platform, announced that they closed $15.5 million in a Series C round of funding. Kasisto has raised $67 million in total funding from its industry-leading group of investors with the latest investment round co-led by Naples Technology Ventures (NTV) and NCR Corporation.
According to Zor Gorelov, CEO, Kasisto, “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 a 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.”
With a growing demand from banking customers for frictionless, intelligent, and hyper-personalized digital experiences, the financial services industry is one of the leading sectors driving the adoption of conversational AI. Kasisto, with its conversational AI platform, KAI, provides the cognitive banking experience to far more financial institutions than any other company in the conversation AI space.
Kasisto will use this funding to accelerate its growth and enhance its ability to serve its customers whether it is in sales, business development, marketing, or strategy. As the financial services industry places a growing emphasis on the digital experience, this funding enables Kasisto to serve its customers better.
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.”
With the support of Naples Technology Ventures, Kasisto will be able to meet the quickly growing market needs with its expertise and knowledge. KAI will continue to be distributed by NCR Corporation to its digital banking customers, becoming an essential partner for Kasisto as it develops its broader product portfolio.
Mike Abbaei, Co-Founder & Managing Partner, Naples Technology Ventures, shared, “NTV focuses on SaaS companies that are effectively leveraging advanced technologies such as AI to solve critical business problems. It was clear to the NTV team from the start that Kasisto fit this profile, but at the same, we recognized how Kasisto is helping to reshape the digital experience across the financial services industry which is driving previously unimaginable outcomes across their client base. We are excited to join the Kasisto team and make this important investment.”
