It’s an exciting milestone in a company’s life when they raise capital because it’s a great culmination of new partnerships, validation and fuel. Today, we’re really pleased to announce that we’ve raised our Series A led by Propel Venture Partners with participation from Mastercard and Commerce Ventures. And we’re also grateful that our existing investors participated in the round, including Two Sigma Ventures, DBS Bank, Partnership Fund for New York City, New York Angels and Harvard Business School Alumni Angels of New York.
Personally, I am very excited to welcome Propel partner Tom Whiteaker to our Board. Tom is a financial services veteran, and his operational and venture experience is a real asset to us. He’s someone that’s been at the forefront of transformative technologies and used them to create new consumer experiences for both the finance and insurance industries. He sees the world through the lens of our customers, and I look forward to working with Tom.
To raise money, you need to be on the right track and gaining traction. On that note, 2016 was a big year for us. Starting last spring, DBS Bank launched digibank, India’s first mobile-only bank, and chose KAI to power the virtual assistant that is so integral to this new banking experience. DBS has been a tremendous partner recognizing the power of conversational AI and we’re working with them to bring KAI-powered virtual assistants and smart bots to their customers in India, Indonesia and Singapore. By the end of the year, we partnered with Mastercard to power its conversational commerce offering and Varo Money to power the digital money coach in their new mobile-only bank. We are proud to work with innovators like DBS Bank, Royal Bank of Canada, Mastercard, Varo Money, and many more financial institutions around the globe with exciting announcements to come.
Of course, what gets us really fired up about our new funding is the future. We’re on a mission to enable companies to engage and transact with their customers via intelligent conversations anytime, anywhere. We’re using this new capital to scale our business to new markets, grow our engineering and sales teams, and develop partnerships with leading systems integrators. In a nutshell, we’re racing to meet the demand for our products.
We see a future where conversational AI is just how you get things done. It’s second nature for consumers to interact naturally and intuitively with companies via intelligent conversations. That’s our fuel and motivation every day.