Kore.ai plans to tap into Nvidia's technology and expertise in order to enhance its own speech AI capabilities. Here are the top-line bullets you need to know.
Kore.ai, a conversational AI and chatbot company, has raised $3.5M in an extended Series C round that drew participation from Nvidia.
How’s the company performing?
- Florida-based Kore.ai’s conversational AI platform optimizes customer, agent, and search experiences.
- The company has automated 1B interactions for top banks, healthcare services, and over 100 Fortune 500 companies since its inception. Its client base includes Signify, Vanguard, AT&T, Cigna, and Roche.
- Kore.ai is headquartered in Orlando, and it also maintains offices in the UK, Europe, India, and Japan.
- The company has over 100M enterprise customers.
Why does the market matter?
- The global conversational AI market is projected to reach a value of $18.4B by 2026, growing at a CAGR of 21.8%, according to Markets and Markets.
- The rise of social platforms and advancements in AI technology coupled with low development costs have contributed to industry growth.
- AI-enabled bots will handle 75–90% of all healthcare- and banking-related queries by 2022, according to Juniper Research.