Kore Raises Funding from Vistara Capital to Drive Innovation and Accelerate Growth
Growth financing further expedites global expansion of industry-first, enterprise-grade conversational AI technology
ORLANDO, Fla., November 13, 2019 — Kore, the leading conversational AI platform provider, today announced it has secured growth capital from Vistara Capital Partners. This funding will support Kore’s continued advancement of the conversational AI technology for the enterprise sector and also accelerate its global growth initiatives.
Kore offers an all-in-one conversational AI platform (as-a-service) that allows enterprises to build and deploy out-of-the-box or customized chatbots/virtual assistants for customers and workforce. It combines natural language processing, machine learning, and AI into enterprise-wide collaboration and automation through conversational interfaces, thus supporting the growing mandate for digital transformation.
“Kore continues to make bold investments in its market-leading technology that enables organizations to discover new ways of engaging customers and ensuring enterprise-wide collaboration through exceptional conversational experience,” said Raj Koneru, Founder and CEO of Kore. “With the flexible growth capital financing package provided by Vistara, Kore is poised to further its vision of creating intelligent enterprises through conversational AI.”
The company is continually adding capabilities to its conversational AI platform to remain a leader in the industry while bringing other targeted solutions to the AI market that is seeing exploding demand in areas such as:
Enterprise digital assistants to improve employee experience and productivity, and
Pre-built intelligent solution bots to tackle most common use cases including retail banking, IT help desk, HR, commerce, sales and customer service.
“As we looked at the market opportunity for Conversational AI, Kore really stood out to us with its proven enterprise grade platform that has been implemented with numerous highly discerning global customers, and recognized by leading industry analysts,” said Randy Garg, Founder & Managing Partner of Vistara Capital Partners. “We are also very excited to be backing this proven management team and look forward to continuing to support their accelerated growth over the years ahead.”
The Orlando-based company is seeing increasing demand with a robust pipeline of Global 2000 clients from a cross section of industries and geographies. Leading players in banking, financial services, telecom, high technology, healthcare, insurance, travel, hospitality and other industries have leveraged the Kore platform’s technological virtuosity and rich feature-set to deploy Conversational AI powered chatbots across several use cases such as customer service, IVR call center, IT services management, HR, knowledge management, IoT and smart automation.
Marlin & Associates acted as the exclusive strategic and financial advisor to Kore for this transaction.
About Vistara Capital Partners
Headquartered in Vancouver BC, Vistara Capital Partners provides highly flexible technology growth debt and growth equity solutions for companies across North America. Founded, managed, and funded by seasoned technology finance and operating executives, “Vistara” (Sanskrit for “expansion”) is focused on enabling the growth and expansion of its portfolio companies. Additional information is available at www.vistaracapital.com.
Kore is a market leading conversational AI technology partner for Global 2000 companies. It provides an enterprise-grade, end-to-end conversational AI platform available on-premise/cloud for building, deploying and managing secure, smart, conversational bots across 30+ different digital and voice channels. Kore partners with top ISVs and global system integrators for helping companies meet their digital transformation needs.
Kore has repeatedly won global analyst acclaim and has been featured in Gartner Market Guide 2019 for Conversational Platforms, Gartner Market Guide for Virtual Customer Assistants 2019, Everest Group’s Conversing with AI – Intelligent Virtual Agents Market Report 2019 and IDC Innovators: Conversational AI Software Platforms 2018, among others.