Kasisto nets $15m in Series B extension led by Rho Capital

Kasisto, a digital experience platform for the financial services space, has netted $15m in its Series B extension round.

The funds were led by new investor Rho Capital Partners, with participation also coming from existing backers Oak HC/FT, Propel Venture Partners, Two Sigma Ventures, Commerce Ventures, and the Partnership Fund for New York City.

As part of the transaction, Rho Capital Partners managing partner Habib Kairouz will join the Kasisto board of directors.

Founded in 2013, the company offers a conversational AI for the financial services industry, designed to support a bank’s virtual assistants. Clients include J.P. Morgan, Mastercard, Standard Chartered, TD, and DBS. Additionally, its technology is used by FinTechs and wealth management firms.

Banks can help their customers make better decisions and improve their overall financial wellness. Its technology is trained in banking and finance so financial institutions can engage customers with a human-like assistant and improve their digital experience and journey.

Tools can be integrated through APIs and can be tailored, trained and improved to meet the specific needs of a client.

Kasisto CEO Zor Gorelov said, “Our mission has always been to imagine, build, and market the world’s most intelligent virtual assistants for the financial services industry. Where other solutions in our space deliver generic frameworks and unintelligent chatbots, we have intentionally invested tremendous energy training KAI to be financially intelligent, insightful and engaging, right out of the box.

“This allows financial institutions to deploy faster and deliver exciting, human-like digital experiences to their customers. This additional investment will allow us to accelerate our mission and make KAI available to all segments of the financial services industry. We are delighted to work with Rho Capital Partners, and all of our investors.”

The company initially raised $17m in the Series B back in 2017. The round was led by Oak HC/FT and backed by Propel Venture Partners, Two Sigma Ventures, Commerce Ventures, Mastercard and Partnership Fund for New York City.

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