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by Yahoo Finance September 3, 2019

New Funding to Expand Products and Accelerate Adoption of Conversational AI in Financial Services

NEW YORKSept. 3, 2019 /PRNewswire/ — Kasisto, creators of KAI, the leading digital experience platform for the financial services industry, today announced a $15 millionSeries B extension funding round led by new investor Rho Capital Partners with participation from current investors, Oak HC/FT, Propel Venture Partners, Two Sigma Ventures, Commerce Ventures, and the Partnership Fund for New York City. As a result of Rho Capital Partners’ investment, Mr. Habib Kairouz will join Kasisto’s board of directors.

Kasisto logo

Founded in 2013, Kasisto has quickly become the leading provider of Conversational AI for the financial services industry. To date, it has global production deployments of its intelligent virtual assistants in more banks than any other Conversational AI company. Customers include J.P. Morgan, Mastercard, Standard Chartered, TD, and DBS, among others. In addition to banks, Kasisto has developed the most advanced intelligent virtual assistants for fintechs and wealth management firms.

Every day, over 18 million users have access to KAI through mobile apps, websites, messaging platforms, and voice-enabled devices. As a result, banks are regularly seeing up to 90% of their customers’ questions handled by KAI without human intervention, a 50% reduction in live chats, and four times more digital engagement.

“Our mission has always been to imagine, build, and market the world’s most intelligent virtual assistants for the financial services industry. Where other solutions in our space deliver generic frameworks and unintelligent chatbots, we have intentionally invested tremendous energy training KAI to be financially intelligent, insightful and engaging, right out of the box. This allows financial institutions to deploy faster and deliver exciting, human-like digital experiences to their customers,” said Zor Gorelov, CEO of Kasisto. “This additional investment will allow us to accelerate our mission and make KAI available to all segments of the financial services industry. We are delighted to work with Rho Capital Partners, and all of our investors.”

“Kasisto is unlike every other company in the Conversational AI space,” said Habib Kairouz, a managing partner of Rho Capital Partners. “We invested in Kasisto because they have a proven track record of success, have designed and built what is clearly the leading digital experience and Conversational AI platform for the financial services industry, and have an impressive team of AI experts, data scientists, as well as an experienced management group that are relentlessly focused on growing the business.”

KAI enables banks’ customers to make better decisions and improve their overall financial wellness. KAI is trained in the language of banking and finance so financial institutions can engage their customers using human-like virtual assistants that help them reimagine their customers’ own digital experience and overall customer journey.

KAI is an extensible, open platform that is designed to be quickly branded and integrated through well-published APIs. KAI includes all the enterprise tools needed for customers to customize, measure, train, and improve their virtual assistants and meets the needs of the most demanding financial services organizations.

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