Kasisto, a NYC-based AI fintech startup, raised $9.2m in Series A funding.
The round was led by Propel Venture Partners with participation from Mastercard and Commerce Ventures and seed investors Two Sigma Ventures, DBS Bank, Partnership Fund for New York City, New York Angels and Harvard Business School Alumni Angels of New York. In conjunction with the funding, Propel partner Thomas Whiteaker joined the Kasisto board of directors.
The company intends to use the funds to scale its business to new markets, grow the engineering and sales teams, develop partnerships with systems integrators, to enhance and extend its platform.
Founded in 2013 by CEO Zor Gorelov, Kasisto provides KAI, a platform – built on decades of AI research from SRI International – that lets companies engage and transact with their customers via natural, intelligent conversations via smart bots and virtual assistants. Currently, KAI is fluent in finance and licensed to retail banks, credit card companies and wealth management firms. In the future, it will be trained to enable conversational experiences in industry verticals beyond finance.
Users include DBS Bank, The Royal Bank of Canada, Mastercard, Varo Money.
Kasisto has also launched MyKAI, a smart banking bot available to consumers for free.