Rasa bags $30m in Series C led by PayPal Ventures and StepStone Group


Rasa, the forefront of generative conversational AI technology, has successfully closed a $30 million Series C funding round.

This significant financial milestone was co-led by StepStone Group and PayPal Ventures, with notable contributions from Andreessen Horowitz (a16z), Accel, and Basis Set Ventures. This round marks a pivotal moment for Rasa, underlining its leadership position in the rapidly evolving AI sector.

Rasa’s platform stands out by offering innovative solutions that redefine business-customer interactions. Through the use of generative AI, Rasa facilitates impactful and personal conversations at scale, transforming how businesses engage with their clientele. The company’s technological prowess and strategic initiatives have positioned it as a transformative force in the industry, poised to broaden its market footprint and solidify its technological leadership.

The newly acquired funds will be channelled into advancing Rasa’s technological capabilities and enhancing its presence in the global market. Rasa’s ambition is to lead the conversational AI space by providing sophisticated, AI-powered chat and voice platforms that cater to the complex needs of businesses and their customers.

This includes the development of Rasa Pro and Rasa Studio with CALM, which combine the adaptability of Large Language Models with the precision of traditional chatbots, offering an intuitive user interface that simplifies development processes and reduces dependency on specialized teams.

Additional insights reveal Rasa’s commitment to security and scalability, catering to enterprise customers with a low-code platform that ensures privacy and efficiency. PayPal Ventures’ participation not only underscores the investment’s significance but also the launch of its AI Fund, aimed at fostering innovation across the AI landscape. Rasa’s impact is evident in its wide adoption across various industries, including finance, insurance, and hospitality, with over 50 million downloads by developers worldwide.

Rasa CEO Melissa Gordon emphasized the funding’s role in accelerating market leadership and innovation, stating, “This investment accelerates our lead in the market, and fuels our drive to redefine what is possible for businesses using generative AI-powered chat and voice platforms at scale.” The investment also supports Rasa’s ongoing expansion, enabling the recruitment of talent across multiple domains to further its mission in redefining conversational AI.

Previously, Rasa has successfully attracted investments from leading venture capital firms, showcasing its growth trajectory and the confidence of the investor community in its vision and capabilities.

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