Posh Technologies, a Boston, MA-based proprietary conversational AI platform serving financial services companies, raised $27.5m in Series A funding.
The round was led by Canapi Ventures with participation from new investors Curql Collective, Human Capital, CMFG Ventures, JAM FINTOP, and Piedmont Capital.
The company intends to use the funds for rapid growth, making investment in product research and development, and the expansion of its team.
Founded in 2018 by Karan Kashyap and Matt McEachern out of MIT, Posh provides an AI platform that enables financial institutions to offer conversational banking experiences to their customers. The technology empowers clients to serve their customer bases by managing transactional commands, answering FAQs and providing the front line extra support. In addition to text-based bots on websites and mobile apps, Posh offers a voice solution, which replaces dial pads and acts as the entry point in customer calls.
The team at Posh serves nearly 50 enterprise clients across the credit union and banking space, including Salem Five Bank, Affinity Federal Credit Union, One Nevada Credit Union and State Department Federal Credit Union, among others serving a diverse client base.