Active.ai

artificial intelligence/machine learningbankingtech

FOUNDING YEAR: 2016
LOCATION: Singapore
Last Update: 17/07/2020

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About

Active Intelligence is a platform that enables financial institutions to deliver their services using Intuition and Automation over channels of engagement. The company’s vision is to become the AI Saas platform for Financial Services.

MEDICI Analysis

Active.ai provides a SaaS platform that uses artificial intelligence technology to improve the customer engagement solutions for banks, wealth institutions, and financial companies. It provides conversation banking platform that uses advanced NLP and machine intelligence to enable customers to have natural dialogues over messaging, voice or IOT devices. The chatbot can get balances, view transactions and make payments. With the help of automation platform, customers can easily communicate with their concerned companies without any hassle. In June 2017, the company has selected by Think next 2017 program of Microsoft Accelerator. Present, the company is improving the product technology and looking for customers and strategic partnerships.

Focus

PRODUCTS & SERVICES

Enterprise based AI-powered chatbots for financial institutions, banks and wealth management firms. AI Engine: It built a robust enterprise-grade AI engine that can be deployed on-premise or on the cloud. The engine comes pre-trained with data models of financial services such as retail, wealth, insurance, and corporate banking. AI Enterprise platform: The platform enables banks and other financial institutions to intuitively and intelligently engage with the customer on mobile, chat, or voice-enabled IOT devices using AI. Active.ai’s platform could help banks offer services to consumers in the chat format that they are most comfortable in.

REVENUE MODEL

Charge the financial enterprise per interaction or enquiry by the consumer at a given frequency - SaaS model

MAIN CLIENTS

Banks and financial institutions

EXISTING PARTNERSHIPS

In July 2017

the company has partnered with Infosys Finacle to offer an AI based platform for banks. It partners with IBM Watson for cognitive intelligence.

PRIMARY PROBLEM SOLVED

Introduces a new automated and cognitive way of interacting with consumers.

INTELLECTUAL PROPERTY

Patent(s) NOT_FILED

COMMENT

Active.ai’s platform learns about them and offers personalized advice and service, increasing engagement and loyalty of the customers. The chatbot can be integrated via various channels, including Wechat, LINE, Kakao Talk, Facebook Messenger, Amazon Echo and Siri.

Traction

TRANSACTIONS COMMENT:

Currently under pilot

ACTIVE USERS:

0

ACTIVE USERS COMMENT:

Currently under pilot

OTHER INFO:

Kasisto, Clinc, Personetics, Cognicore, Senseforth are select global startups in the same space as Active AI, providing NLP, AI-driven engagement services. Their differentiating factor is the IP they have built (classifiers, NLP, integrations with multiple AI algorithms, etc.) and patents pending filing in some of the areas such as dialog synthesis and faster integration to existing systems.

People

FOUNDERS

Parikshit Paspulati

Ravi Shankar

Shankar Narayan

BOARD MEMBERS AND ADVISORS

Bala Srinivasa

Sanat Rao

Anantharaman Venkataramanan

Vivek Raghavan

Shrikant Sundarajan

Ben Mathias

Vani Kola

Shrikant Sundarajan

NUMBER OF EMPLOYEES

51-200

INVESTORS:

Chiratae Ventures

Dream Incubator

IDG Ventures India

InnoVen Capital

Kalaari Capital

Kstart

Microsoft accelerator

Vertex Ventures

Vertex Ventures Southeast Asia & India

KEY EMPLOYEES:

Ravi Shankar (CEO)

Parikshit Paspulati (CTO)

Shankar Narayan (COO)

COMMENT:

Team is a perfect combination of new talent, relevant experience,good energy .

Momentum

FUNDED

YES

TOTAL FUNDING

$14.75 M

DATE OF LAST FUNDING

Jun 2019

TOTAL FUNDING COMMENT

The company will use funds to improve the technology and focus on getting more customers from Asia and North America regions.

SEED & PRIOR FUNDING

$500 K

SEED CLOSED ON

May 2016

SEED PRIOR FUNDING COMMENT

It receives $.5 M in a convertible note from Kstart accelerator powered by Kalaari Capital in May 2016.

FUNDING SERIES

SERIES A  · $3 M  · Jun 2019

SERIES B  · $8.25 M  · Nov 2017

OTHERS  · $3 M · Nov 2016

LISTED

NO

COMMENT

Venture funding: $3 M (Nov 2016).

For Investors

FUNDING NEEDED:

$0.00

EXIT STRATEGY

not applicable

MONTHS LEFT WITH CURRENT CASH BURN RATE:

8 months from 14 Mar, 2017

BASICS

FOUNDING YEAR:

2016

LOCATION:

Singapore

Views:

359 VISITORS | 660 VIEWS
LATEST FUNDING ROUND

$14.8 M

TOTAL EMPLOYEES
51-200

About

Active Intelligence is a platform that enables financial institutions to deliver their services using Intuition and Automation over channels of engagement. The company’s vision is to become the AI Saas platform for Financial Services.

Subscribe to the MEDICI Inner Circle Membership and gain access to an exclusive Slack community where you can engage in discussions with global industry experts!

MEDICI Analysis

Active.ai provides a SaaS platform that uses artificial intelligence technology to improve the customer engagement solutions for banks, wealth institutions, and financial companies. It provides conversation banking platform that uses advanced NLP and machine intelligence to enable customers to have natural dialogues over messaging, voice or IOT devices. The chatbot can get balances, view transactions and make payments. With the help of automation platform, customers can easily communicate with their concerned companies without any hassle. In June 2017, the company has selected by Think next 2017 program of Microsoft Accelerator. Present, the company is improving the product technology and looking for customers and strategic partnerships.

Focus+
Momentum+
Traction+
People+
For Investors+
Other+

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Active.ai

About

Active Intelligence is a platform that enables financial institutions to deliver their services using Intuition and Automation over channels of engagement. The company’s vision is to become the AI Saas platform for Financial Services.

Focus

PRODUCTS & SERVICES

AI-powered chatbots and platform for financial institutions, banks and wealth management firms.

REVENUE MODEL

Charge the financial enterprise per interaction or enquiry by the consumer at a given frequency - SaaS model

TOP PROBLEM SOLVED

On a broad level there are three challenges existing financial institutions are facing : - 1. Customers exist on those platforms on which the financial institutions are not present. 2. How to bring the next billion unbanked potential customers into the mainstream. 3. Coping up with ascent of Banking-As-A-Service.

PRODUCT DEVELOPMENT STAGE

MVP

KEY DIFFERENTIATORS

AI has large number of applications - however being focused on Financial services segment is the key differentiator

PRIMARY CUSTOMER TYPE

Enterprise - Banks or Financial Institutions

People

FOUNDERS

Parikshit Paspulati

Ravi Shankar

Shankar Narayan

NUMBER OF EMPLOYEES

11-50

KEY EMPLOYEES:

CEO: Ravishankar Ravishankar

CTO, FOUNDER: Parikshit Paspulati

employee: Ravi Shankar (CEO)

employee: Parikshit Paspulati (CTO)

employee: Shankar Narayan (COO)

FOUNDER: Ravi Shankar

FOUNDER: Shankar Narayan

TEAM COMMENT:

Team is a perfect combination of new talent, relevant experience,good energy .

BOARD MEMBERS AND ADVISORS:

Bala Srinivasa, Sanat Rao, Anantharaman Venkataramanan, Vivek Raghavan, Shrikant Sundarajan, Ben Mathias, Vani Kola, Shrikant Sundarajan

INVESTORS:

Chiratae Ventures

Chiratae Ventures

Chiratae Ventures

Chiratae Ventures

Chiratae Ventures

Dream Incubator

IDG Ventures India

InnoVen Capital

InnoVen Capital

InnoVen Capital

InnoVen Capital

InnoVen Capital

Kalaari Capital

Kalaari Capital

Kalaari Capital

Kalaari Capital

Kalaari Capital

Kalaari Capital

Kstart

Microsoft accelerator

Vertex Ventures

Vertex Ventures

Vertex Ventures

Vertex Ventures

Vertex Ventures

Vertex Ventures

Vertex Ventures Southeast Asia & India

Vertex Ventures Southeast Asia & India

Vertex Ventures Southeast Asia & India

Vertex Ventures Southeast Asia & India

Vertex Ventures Southeast Asia & India

Momentum

FUNDED

YES

TOTAL FUNDING:

$3.5 M

LISTED

NO

FUNDING SERIES
Seed Sep 2016 --- USD3.5 M Comment on Seed This funding is mainly used for expansion of business - including recruitment and offices to be opened globally.

Comment on Valuation

not sure . Have left it same as default