Global leader in Enterprise Conversational AI Platform space doubles its R&D center in Hyderabad on the back of record growth in customers, revenues and headcount increases
HYDERABAD, March 21, 2022 — Kore.ai, a market-leading enterprise conversational AI software platform and solutions company, has today announced the launch of a new office space including a 500-seater capacity at the Aurobindo Galaxy Towers here to support its growing global footprint and plans to ramp up its recruitment in India.
The new workplace, which was inaugurated by the CEO and Founder Raj Koneru, will act as a hub for Kore.ai’s global research and development (R&D) initiatives in the conversational AI technology space with a growing portfolio of AI-first solutions that the company is building along with product development, engineering, customer support, consulting and other allied services.
“Among the emerging technologies, conversational AI has caught the imagination of global enterprises because of its strategic relevance to their business, especially so in the post-COVID world. Today, close to 200 of our customers across the world rely on the platform technology and solutions that we’ve built, a major part of it here in Hyderabad, to power their customer engagement and enterprise collaboration through AI-enabled automation and experience optimization. India will remain central to our global vision with Hyderabad acting as a hub for our operations in the region,” said Raj Koneru.
Kore.ai plans to double its global headcount to 1,100 employees in FY 2022-23 with the bulk of talent being added in India, in the face of growing demand for conversational AI implementations across industries.
Headquartered in Orlando, Florida (US), Kore.ai offers a secure and scalable no-code platform, known as the Kore.ai Experience Optimization (XO) Platform, which enables organizations to design, build, test and deploy sophisticated conversational user interfaces, virtual assistants and process apps. Kore.ai’s innovative approach reduces an organization’s reliance on technical experts, accelerates implementation and improves efficiency.
The proprietary platform, which the company has built with a core team in India since its inception in 2014, uses deep neural networks (DNN), natural language processing (NLP) and conversational intelligence capabilities among others to recognize speech and text inputs and enables machines to process, understand and respond naturally to chat or human voice.
“Our India office has been integral to Kore.ai’s global success with the technology prowess that we’ve built through our strong product and engineering teams comprising product management experts, deep tech engineers, programmers, NLP and conversational AI experts,” said the company’s Chief Technology Officer (CTO) Prasanna Kumar Arikala. “We have emerged as a leader in the conversational AI space capitalizing on the best technology talent pool available in the country. We will continue to innovate and capture a greater share of the conversational AI market opportunity, which is projected to cross $15B and growing at 30% CAGR.”
In addition to the platform, Kore.ai offers industry- and function-specific solutions such as SmartAssist, AgentAssist, BankAssist, HealthAssist, SearchAssist, WorkAssist, HR Assist and IT Assist to address specific enterprise needs that allows businesses to start realizing value quickly.
“As a company, we have been focused on providing conversational AI solutions in complex, highly regulated and dynamic industries. We are bringing unique solutions that address their immediate challenges while also enabling us to work with them in the long run for improving experiences, stakeholder satisfaction and enhancing overall productivity,” said Raj Koneru.
Kore.ai is set to close FY2022 with a 100% increase in revenues and addition of large marquee customers across key verticals in North America, EMEA and Asia Pacific. To ensure deeper market penetration, the company is looking to rope in more channel partners across North America, EMEA, Latin America and Asia Pacific.
Recently, the company has been named a Leader in the first-ever Gartner Magic Quadrant for Enterprise Conversational AI Platforms for its “Completeness of Vision” and “Ability to Execute”.
Last November, Kore.ai concluded its $73.5M Series C round with strategic investments from NVIDIA, PNC and Vistara Growth.
“We are riding on a strong demand from existing customers and the industry. I am excited to see the future of Conversational AI and India’s role in it,” noted Raj Koneru.
Kore.ai is a global leader in the conversational AI-first platform and solutions helping enterprises automate business interactions to deliver extraordinary experiences for their customers, employees and contact center agents. More than 200 Fortune 2000 companies trust Kore.ai’s experience optimization (XO) platform and technology to automate their business interactions for over 100 million users worldwide to achieve extraordinary outcomes. Kore.ai has been recognized as a leader and an innovator by top analysts and ensures the success of its customers through a growing team headquartered in Orlando with offices in India, the UK, Japan, South Korea and Europe. Visit kore.ai to learn more.
SOURCE Kore.ai Inc.