AI mobile startup Kasisto raised $17 million in Series B financing, led by Oak HCFT, with participation from Propel Venture Partners, Two Sigma Ventures, Commerce Ventures, MasterCard, and Partnership for New York City Fund.
Kasisto invented KAI, a conversational AI platform for smart bots and virtual assistants that runs on messaging platforms, mobile apps, web, wearables, and IoT. According to the company, financial institutions use KAI to increase their customer acquisition and engagement as well as reduce churn and customer care costs. KAI helps people with banking payments, transaction and account insights, and personal finance management. The company also provides new ways for banks to support and market their product and services.
This new funding will used to expand the Kai platform to include new AI-powered features and innovations.