Kasisto

artificial intelligence/machine learningbankingtech

FOUNDING YEAR: 2013
LOCATION: United States
Last Update: 17/07/2020

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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.

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:

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

Patricia Kemp

William Mark

Jeff Seltzer

Thomas Whiteaker

Steve Chambers

Cristobal Conde

Sandeep Lal

Tom McCabe

David Lynch

Ken Moore

Roberto Pierancci

David Walker

Norman Winarsky

Olivier Crespin

Roberto Pieraccini

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

KEY EMPLOYEES:

Zor Gorelov (CEO)

COMMENT:

Our headquarters is in NYC,we have offices in Mountain View, CA,Singapore. We're a passionate bunch at the intersection of AI,Conversation. Our co-founders have been in the space for some time creating enterprise-ready solutions,seized the perfect storm by creating KAI to power human-like, intelligent conversations. We have a very strong core R&D team – AI, NLU, ML,ASR experts from IBM, Nuance, SRI, Bell Labs, vLingo. Every day, we are fired up to help our customers leverage the power of AI,Conversation

Momentum

FUNDED

YES

TOTAL FUNDING

$33.45 M

DATE OF LAST FUNDING

Feb 2020

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).

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.

Innovation Programs

BASICS

FOUNDING YEAR:

2013

LOCATION:

United States

Views:

460 VISITORS | 869 VIEWS
LATEST FUNDING ROUND

$33.5 M

TOTAL EMPLOYEES
51-200

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.

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

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+
Momentum+
Traction+
People+
Other+

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.

REVENUE MODEL

Annual subscription plus usage-based fees

TOP PROBLEM SOLVED

KAI unleashes lifestyle banking where financial decisions are woven into everyday life via intelligent conversations. 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. The experience is as natural as texting a friend. ● Reduce customer care costs by eliminating and qualifying customer inquiries. KAI-powered bots and assistants proactively inform customers about transactions and patterns and suggest actions to self-serve. ● Increase sales of products and services with contextual offers. KAI-powered bots and assistants cross-promote and upsell with personalized call-to-actions. ● Improve customers’ financial well-being and literacy. KAI-powered bots and assistants provide data-driven recommendations and insights to help customers manage their money. ● Increase brand loyalty by highlighting unrealized features and benefits to consumers about current products and services.

PRODUCT DEVELOPMENT STAGE

V2.0 or BEYOND

PRODUCT DEVELOPMENT COMMENT

KAI Banking is pre-loaded and trained on thousands of banking intents and millions of banking sentences. After it is trained on a financial institution’s data, products and services, sophisticated machine learning constantly improves performance and customer experiences to fulfill requests, solve problems, and predict needs.

KEY DIFFERENTIATORS

● Conversational AI platform is enterprise-ready, secure, and scalable. ● Agile AI environment with well-defined RESTful banking API and deep-learning analytics tools to collect and federate data, build, train, customize, and integrate. ● Financial expertise out-of-the-box with banking intents that ensure KAI-powered bots and assistants predict customers’ needs and solve their problems. ● Ubiquitous across channels including mobile, messaging platforms, web, wearables and IoT to ensure contextual, personalized customer experiences – anytime, anywhere. ● Human-like, intelligent conversations that track goals and intents so KAI-powered bots and assistants do more for consumers. ● Augments and enriches the financial institution’s data to create data-driven triggers based on patterns and events. ● Offers proactive and actionable recommendations to help customers manage their money, purchase products and services, and reduce customer care inquiries. ● Self-services tools empower financial institutions to maintain and improve the system via business reports, annotations, intents, and content management. ● AI technology stack and pedigree – 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.

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

People

FOUNDERS

Zor Gorelov

Sasha Caskey

Dror Oren

Ruth Brown

NUMBER OF EMPLOYEES

11-50

KEY EMPLOYEES:

CEO, FOUNDER: Zor Gorelov

CTO, FOUNDER: Sasha Caskey

CMO, FOUNDER: Dror Oren

COO, FOUNDER: Ruth Brown

employee: Zor Gorelov (CEO)

TEAM COMMENT:

Our headquarters is in NYC,we have offices in Mountain View, CA,Singapore. We're a passionate bunch at the intersection of AI,Conversation. Our co-founders have been in the space for some time creating enterprise-ready solutions,seized the perfect storm by creating KAI to power human-like, intelligent conversations. We have a very strong core R&D team – AI, NLU, ML,ASR experts from IBM, Nuance, SRI, Bell Labs, vLingo. Every day, we are fired up to help our customers leverage the power of AI,Conversation

BOARD MEMBERS AND ADVISORS:

Patricia Kemp, William Mark, Jeff Seltzer, Thomas Whiteaker, Steve Chambers, Cristobal Conde, Sandeep Lal, Tom McCabe, David Lynch, Ken Moore, Roberto Pierancci, David Walker, Norman Winarsky, Olivier Crespin, Roberto Pieraccini

INVESTORS:

BBVA Ventures

Commerce Ventures

DBS Group Holdings

Harvard Business School

Harvard Business School

Harvard Business School

Harvard Business School

Harvard Business School

Harvard Business School

Harvard Business School

Harvard Business School

HBS Alumni Angels Association

Ltd

Mastercard

Mastercard

Mastercard

Mastercard

Mastercard

Mastercard

Mastercard

Mastercard

MasterCard Start Path

New York Angels

Oak HC/FT

Oak HC/FT

Oak HC/FT

Oak HC/FT

Oak HC/FT

Oak HC/FT

Oak HC/FT

Oak HC/FT

Partnership Fund for New York City

Propel Venture Partners

Propel Venture Partners

Propel Venture Partners

Propel Venture Partners

Propel Venture Partners

Propel Venture Partners

Propel Venture Partners

Propel Venture Partners

SRI International

Two Sigma Ventures

Two Sigma Ventures

Two Sigma Ventures

Two Sigma Ventures

Two Sigma Ventures

Two Sigma Ventures

Two Sigma Ventures

Two Sigma Ventures

Wells Fargo Startup Accelerator

Momentum

FUNDED

YES

TOTAL FUNDING:

$11.45 M

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