Kasisto

artificial intelligence/machine learningbankingtech

FOUNDING YEAR:
LOCATION: United States
Last Update: 19/01/2021

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About

Kasisto’s conversational AI platform, KAI, enables companies to attract, engage, and transact with their customers via human-like and intelligent conversations anytime, anywhere. KAI is an omni-channel platform powering smart bots and virtual assistants across mobile apps, messaging platforms, websites, wearable and IoT devices. It’s like having a single AI-driven “brain” that engages with customers to increase acquisition and engagement and reduce churn and customer care costs.

MEDICI Analysis

Kasisto has developed a smart AI-powered conversational platform that enables companies to engage and transact with their customers via intelligent conversations.The company offers KAI bot, it is a conversational AI platform powering virtual assistants and smart bots across mobile, messaging, and wearables.

Focus

PRODUCTS & SERVICES

AI-powered conversational platform for mobile apps to banks, retailers, etc, The company offers KAI banking products: 1) MyKAI: It is a personal banking bot that provides a secure way to manage money, track expenses, analyze spending, answer banking questions and make payments via Venmo from inside Facebook Messenger, Slack and SMS. It supports by thousands of financial institutions and have instantaneous and easy access to all of their checking, savings, credit cards and other accounts. MyKAI is fluent in banking and understands transactions and accounts, from histories to categories to dates and merchants. It also informs users on how they spent on past and provide detailed information about every past transaction. 2) KAI Banking on Mobile: The platform allows banks to implement smart, bank-branded mobile banking apps featuring conversational UIs designed to simplify consumer banking transactions and other activities. 3) KAI Banking on Messaging: It is for banks to develop branded smartbots so customers can bank conversationally from within their preferred messaging systems like Facebook Messenger, Slack, and SMS. Bank-branded smart bots can fulfill banking queries, transact, predict needs, and guide people through banking experiences in a completely new way.

REVENUE MODEL

Annual subscription plus usage-based fees

MAIN CLIENTS

Banks and Financial Institutes. Major clients DBS Bank

Mastercard

TD Bank

Standard Chartered Bank

EXISTING PARTNERSHIPS

20,000 US banks and credit cards firms

PRIMARY PROBLEM SOLVED

KAI-powered bots and assistants have the expertise to help customers with payments, transaction and account insights, and personal finance management as well as to provide banks with new ways to support and market to their customers.

COMMENT

KAI's platform is fluent in banking intents and sentences, including accounts, transactions, payments, transfers, FAQs, and more. The KAI Banking conversational AI platform has an easy-to-integrate, comprehensive API, and modern SDKs so that banks can get to market within weeks. From a single backend, KAI Banking powers virtual assistants and smart bots to reach customers on mobile, messaging and wearables.

company provided insights

Traction

COMPANY TYPE:

For Profit

REVENUE COMMENT:

Our conversational AI platform, KAI, is industry agnostic. It's currently trained for the financial industry and we have plans to bring KAI to other verticals.

TRANSACTIONS COMMENT:

Our transaction volumes are confidential to our customers.

ACTIVE USERS:

N/A

ACTIVE USERS COMMENT:

Kasisto licenses KAI Banking to financial institutions, including the world's most innovative retail banks, credit card companies, brokerage houses and wealth management firms. Many leading FIs are in various stages of deployment under NDA. Publicly announced customers include DBS Bank, Mastercard and Varo Money.

TRACTION COMMENT:

KAI handles 82% of Digibank customers of DBS bank - which is almost 1 million customers.

People

FOUNDERS

Zor Gorelov

Sasha Caskey

Dror Oren

Ruth Brown

BOARD MEMBERS AND ADVISORS

Zor Gorelov

William Marks

Jeff Seltzer

Thomas Whiteaker

Steve Chambers

Cristobal Conde

Olivier Crespin

David Lynch

Roberto Pieraccini

David Walker

Norman Winarsky

Patricia Kemp

William Mark

Sandeep Lal

Tom McCabe

Ken Moore

Roberto Pierancci

NUMBER OF EMPLOYEES

51-200

INVESTORS:

BBVA Ventures

Commerce Ventures

DBS Group Holdings

Harvard Business School

HBS Alumni Angels Association

Ltd

Mastercard

MasterCard Start Path

New York Angels

Oak HC/FT

Partnership Fund for New York City

Propel Venture Partners

SRI International

Two Sigma Ventures

Wells Fargo Startup Accelerator

DBS Bank

Harvard Business School Alumni Angels of Greater NY

DBS

Harvard Business School Alumni Angels of New York

Napier Park Financial Partners

Rho Capital Partners

KEY EMPLOYEES:

Zor Gorelov (CEO)

Momentum

FUNDED

YES

NUMBER OF FUNDING ROUNDS

3

TOTAL FUNDING

$33.45 M

DATE OF LAST FUNDING

Feb 2020

IPO STATUS

Private

TOTAL FUNDING COMMENT

The company is planning to use the fund to scale the business to meet the increasing demand for Kasisto’s products in existing and new markets as well as in expanding the KAI platform (Dec 2017).

ESTIMETED REVENUE RANGE

Less than $1M

SEED & PRIOR FUNDING

$2.25 M

SEED CLOSED ON

Aug 2014

FUNDING SERIES

SERIES A  · $9.2 M  · Jan 2017

SERIES B  · $22 M  · Feb 2020

LISTED

NO

COMMENT

An undisclosed amount received in Non equity assistance in 2016.

company provided insights
Web Traffic

Web Traffic

MONTHLY VISITS

4,839

AVERAGE VISITS (6 MONTHS)

4,104.71

MONTHLY VISITS GROWTH

-7.83%

VISIT DURATION

94

VISIT DURATION GROWTH

63.27%

PAGE VIEWS VISIT

1.9

PAGE VIEWS VISIT GROWTH

5.99%

BOUNCE RATE

68.68%

BOUNCE RATE GROWTH

8.97%

GLOBAL TRAFFIC RANK

2,453,326

MONTHLY RANK CHANGE

-801,279

MONTHLY RANK GROWTH

-24.62%

Innovation Programs

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Kasisto

About

Kasisto’s conversational AI platform, KAI, enables companies to attract, engage, and transact with their customers via human-like and intelligent conversations anytime, anywhere. KAI is an omni-channel platform powering smart bots and virtual assistants across mobile apps, messaging platforms, websites, wearable and IoT devices. It’s like having a single AI-driven “brain” that engages with customers to increase acquisition and engagement and reduce churn and customer care costs.

Focus

PRODUCTS & SERVICES

KAI is industry agnostic and today focused on the finance industry. Some of the world’s most innovative financial institutions are creating entirely new experiences with KAI-powered bots and assistants. ● Out of the box, the platform is fluent in banking intents and sentences, including accounts, transactions, payments, transfers, FAQs, and more. The bots and assistants fulfill requests, solve problems, and predict needs in ways that are as natural as texting a friend. Data-driven recommendations and insights help customers manage their money and banks contextually market and upsell products and services. ● Built with deepest AI portfolio in the industry, KAI includes tools to empower financial institutions to customize the persona, continually improve the customer experience, and add new features.

PRIMARY CUSTOMER TYPE

Enterprise - Banks or Financial Institutions

PRODUCT ATTRIBUTES

SaaS

On-premises

Customer facing

STRATEGIC CLIENTS AND PARTNERSHIP

DBS digibank : In production - KAI powers virtual assistant and bot to enable lifestyle banking on mobile, web, Facebook Messenger in India and Singapore

Mastercard : In pilot - KAI powers Mastercard's bot for banks to make commerce more conversational

Varo Money : Announced - KAI powers money coach in new digital-only bank

Traction

REVENUE COMMENT:

Our conversational AI platform, KAI, is industry agnostic. It's currently trained for the financial industry and we have plans to bring KAI to other verticals.

TRANSACTIONS COMMENT:

Our transaction volumes are confidential to our customers.

ACTIVE USERS/ACCOUNTS:

N/A Million

ACTIVE USERS COMMENT:

Kasisto licenses KAI Banking to financial institutions, including the world's most innovative retail banks, credit card companies, brokerage houses and wealth management firms. Many leading FIs are in various stages of deployment under NDA. Publicly announced customers include DBS Bank, Mastercard and Varo Money.

LIVE USERS/TRANSACTIONS:

Yes, in live production

How will you grow the number of users/accounts/transactions?

Our current customers' deployments continues to grow in users and engagement. We continue to pilot and deploy with new financial institutionsl

CHANNEL STATUS

MULTIPLE CHANNELS

NUMBER OF CLIENTS OR PAYING CUSTOMERS

5

Momentum

FUNDED

YES

FUNDING COMPLETED

NO

LISTED

NO

FUNDING SERIES
Seed
Aug 2014
USD2.25 M
Comment on Seed
Kasisto founded in 2013, and spun out of SRI International in 2014. As an SRI spin-out, Kasisto has a full AI technology stack and pedigree, In fact, the deepest AI portfolio in the industry based on decades of research and IP at SRI International (where Siri was invented), including Speech Recognition, Natural Language Processing, AI Reasoning, Natural Language Generation.

Comment on Valuation

Private, not disclosed - cannot change field Two Sigma Ventures Wells Fargo Startup Accelerator SRI International Partnership Fund for New York City Harvard Business School Alumni Angels of New York BBVA Ventures
Series B
Jan 2017
USD9.2 M
Comment on Series B
See press release here: http://kasisto.com/kasisto-raises-series-a-to-accelerate-adoption-of-conversational-ai/

Comment on Valuation

Private, not disclosed - cannot change field Propel Venture Partners Commerce Ventures Two Sigma Ventures Mastercard DBS Partnership Fund for New York City New York Angels Harvard Business School Alumni Angels of New York