I am very pleased to announce that our latest investment round was oversubscribed, leading us to close the round with an additional $7 million from Napier Park Financial Partners, bringing the round’s total to $22 million and overall investments in Kasisto to date of $51 million. This investor enthusiasm was driven by one simple, but compelling fact, that is; the financial services industry is changing rapidly, and financial institutions of all sizes are deploying intelligent virtual assistants to transform how they engage their customers on digital channels.
Since the introduction of simple chatbots, large financial institutions have been exploring the impact conversational assistants could have on their business and the potential of their ability to provide customers with access to an instant and self-service channel that allows them to bank the way they want; anytime, anyplace. Knowing this, we made the commitment that KAI would be the financial services industry’s most intelligent, proven, and extensible conversational AI platform. We understood at the time that not every virtual assistant would have the capability to seamlessly support the complex conversational needs of the financial services industry. So we started by developing core AI capabilities and collecting, cleansing, analyzing and training KAI on tens of millions of conversational banking utterances. This data is from real, end-user interactions that are collected across multiple banks, regions and languages. The resulting data is unique in the fact that it is completely unbiased and provides us with the foundation required to deliver a truly humanizing digital experience. This additional investment from our new investors at Napier Park Financial Partners and the amazing support from all our current investors allows us to scale our products and technology to every corner of the financial services industry and to banking customers of all sizes and the technology partners that serve them.
Kasisto is committed to leading the industry into a new era of conversational AI banking and with the latest investment in the company, we can accelerate our mission in developing and delivering the industry’s most transformative conversational AI experience.
2020, a new decade, will bring many exciting and innovative changes to the financial industry and we are ready to be a leading component of the digital banking transformation. Expect to see many more remarkable developments coming from Kasisto. If you’re interested in learning more, or talking with us about KAI and our intelligent virtual assistants, please click here.
You can read our full press release about this investment here.