Active.ai Attracts $3 Million Venture Funding from Kalaari & IDG

Bengaluru: Virtual assistant banking platform, Active.ai, announce about the closing of its $3 million funding from IDG Ventures India and Kalaari Capital. This fresh investment will support Active.ai to advance its cutting edge banking platform and to build advanced Artificial Intelligence features to deliver a superior and engaging banking experience. Previously in March, company has received $500,000 seed funding form Kalaari Capital.

Bala Srinivasa, Kalaari Capital says, "Messaging based mobile banking has become a strategic imperative for banks globally to enhance consumer experience and lower customer engagement costs. Active.ai is poised to tap into this large market opportunity with its chat and AI powered mobile customer engagement solution. Kalaari is excited to back this founding team given their past track record, banking domain knowledge, and deep technology expertise”.

Active Intelligence Pte or known as Active.ai was incepted in this year by Ravi Shankar (CEO & Co-Founder), Parikshit Paspulati (CTO & Co-Founder) and Shankar Narayanan (COO), and aims to be go-to customer AI engagement platform for financial services companies such as banks, wealth managers and asset managers. Active.ai provides a conversational banking platform which is designed to automate customer interactions using insights powered by algorithms. It’s intelligent and omni-channel platform enables financial service companies to connect with their customers over on bots, SMS or voice API's.

“Conversation is the new UX and with banks opening up APIs, a new era of digital business is emerging. We are moving from ‘Mobile First’ to ‘AI first’ and Active.ai is the platform facilitating banks to achieve that. Active.ai is helping banks redefine their digital strategy for the future, bringing in automation and intelligent customer engagement to banking and payments. The company’s intelligent and built for banking technology uses advanced NLP and machine intelligence to enable customers have natural dialogues over messaging, voice or IOT devices,” says Ravi.

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