Chatbot developer Kasisto has closed a $22 million Series B extension financing, bringing the total amount raised by the New York-headquartered company in this funding round to $51 million.
With a mission to 'humanise the digital banking experience' Kasisto's conversational AI has found favour with a crop of top tier institutions, including DBS Bank, JPMorgan Chase, Mastercard, Standard Chartered, TD, and Manulife Bank.
The new funding comes at a time of high-growth in the conversational AI market, which is expected to grow from $4.2 billion in 2019 to $15.7 billion in 2024.
Zor Gorelov, CEO of Kasisto, comments: “Our digital experience platform, KAI, has been successfully deployed in production by leading financial institutions around the globe, and helps these organisations deliver truly humanising digital experiences to their customers.”
He says the the working capital will be used to build out sales and push the product deeper into new business areas, including corporate banking.