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Kasisto has closed its Series B round of financing after Napier Park Financial Partners joined in with an investment of $7M.
FREMONT, CA: The creator of KAI, Kasisto has closed its Series B extension funding round after Napier Park Financial Partners joined the round raising $7 million investment. This brought the company’s total funding from the Series B Extension round to around $22 million.
"Since we founded Kasisto, we've been laser-focused on developing and delivering the industry's most transformative conversational AI experience. Our digital experience platform, KAI, has been successfully deployed in production by leading financial institutions around the globe, and helps these organizations deliver truly humanizing digital experiences to their customers," said Zor Gorelov, CEO of Kasisto. "I am excited to be working with the team at Napier Park Financial Partners, who will bring industry knowledge, strategic insights and relevant access that will help our business grow. I welcome Manu Rana to our board and look forward to his contribution."
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By 2024, the conversational AI market is estimated to grow from $4.2 billion to $15.7 billion. Major financial services giants such as J.P. Morgan Chase, Emirates NBD Bank, TD, DBS Bank, and many others are investing fully-fledged to enhance their digital banking experiences. To meet the demands and market dynamics, the leading financial aid platform, Kasisto plans to invest mainly in the global field organization to push ahead of its go-to-market strategy. The platform will also maximize its indulgence in the innovation of technologies while leveraging a unique and unbiased conversational data that empowers its AI, as KAI hopes to lead the industry into the latest era of conversational AI banking.
"We have recognized Kasisto's leadership position and felt that our investment, team, and resources would help the company expand across all segments of the financial services industry," said Manu Rana, a partner and co-head of private investments at Napier Park Financial Partners. "We've been very impressed by the quality and ease of implementation of Kasisto's products; by the enthusiasm of Kasisto's customers for the tangible benefits Kasisto has brought to their customer service, acquisition, and cross-sell efforts; and by the breadth and depth of Kasisto's data, supporting enterprises and consumers on three continents and in multiple languages. We look forward to supporting the Kasisto team in extending their undisputed leadership in virtual assistants and chatbots for the global financial services industry."
Since its inception in 2013, Kasisto has focused on providing financial institutions with the power to humanize digital experiences that strengthens relationships. KAI is the renowned digital experience platform the company offers for the financial services industry. The platform, KAI, has a proven record of driving business results while also increasing the quality of customer experiences. It engages with millions of customers from all over the world, across multiple channels and in numerous languages as KAI is optimized for compliance, security, scalability, and performance. KAI is designed and manufactured with the deepest Conversational AI portfolio in the industry.
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