New York, the U.S-based provider of a digital experience platform for the financial services industry, Kasisto, raised USD 15.5 million. The Series C extension round took place on August 22, 2022.
Fidelity Information Services, LLC and Westpac Banking Corporation led the financing for the firm. Meanwhile, BankSouth also joined in the investment. So far, the total amount raised in Series C funding stands at USD 31 million.
Purpose of Funding by Kasisto
With this additional funding, Kasisto plans to continue investing in product development.
It intends to develop strategic go-to-market initiatives. Meanwhile, the company seeks opportunities to secure the expansion of partnerships with top financial services providers.
What the co-founder has to say
Zor Gorelov, Co-Founder and CEO of Kasisto, said, “The expansion of our Series C is a resounding vote of confidence in our vision. The funding will allow us to continue to lead and innovate in the conversational AI space. This year, we have seen our strongest growth and expansion in our global and US community banking businesses. I am proud of what we have accomplished and deeply grateful to our talented team that is working tirelessly, with customers and partners, to shape the future of banking.”
What the investors have to say
Stephane Wyper, SVP of FIS Impact Ventures, said, “We believe the future of banking experiences will become ever more contextual and will be powered by leading AI technologies that create more engaging interactions for every customer. We are excited to be investing in Kasisto and exploring opportunities to leverage their KAI technology across our digital banking capabilities to humanize digital consumer interactions more.”
In addition, Scott Collary, Westpac Group Executive, Customer Services and Technology, said, “The cycles of innovation are getting faster, and so are the needs and expectations of our customers who want quick, intuitive and personalized service. Kasisto’s technology has enabled us to evolve from traditional chatbots to a sophisticated, human-like conversational experience, unified for the first time under a single AI orchestration platform. This means customer queries will be answered more efficiently with reduced wait times and fewer hand-offs.”
Further, Harold Reynolds, BankSouth Chairman and CEO, said, “We have seen the successful adoption of conversational AI from our online banking customer base, and both our customers and bankers have found Kasisto’s technology to be effective and easy to use. The more we work with this robust platform, the deeper and richer the experience has become for our customers. We fully expect that our highly personalized digital assistant provided by KAI will be an increasingly integral component of our customer’s banking experience. This investment in Kasisto demonstrates our commitment to making that happen.”
About Kasisto
Ruth Brown, Zor Gorelov, and Sasha Caskey brought the company into existence in 2013. The U.S-based company has offices in Silicon Valley and Singapore. Kasisto provides KAI, a digital experience platform for the financial services industry. Via partnerships with proven technology providers such as FIS, NCR, Q2 and others. Customers include J.P. Morgan, Westpac, Standard Chartered, TD, and Manulife Bank, and credit unions such as Fairwinds and Excite – and more, the company provides its services.
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