Welcome!

API Journal Authors: Liz McMillan, Ed Featherston, Elizabeth White, Jeev Trika, Kevin Benedict

News Feed Item

Kasisto Secures $2.25 Million in Seed Financing to Bring Virtual Specialist Capabilities to Enterprise Mobile Applications

New funding to bolster product development and expand Kasisto's footprint in the financial services market

NEW YORK, Aug. 20, 2014 /PRNewswire/ -- Kasisto, provider of a conversational artificial intelligence platform for enterprise mobile applications, today announced it has secured $2.25 million in seed funding. The round was led by New York Angels with participation from Two Sigma Ventures, the Partnership Fund for New York City, the Wells Fargo Startup Accelerator, Harvard Business School (HBS) Alumni Angels of New York, and prominent financial service executives and entrepreneurs, including Cristobal Conde (former CEO of SunGard), and Larry Ng (founder of MoneyLine Telerate and TradeWeb). These new investors join two existing shareholders:  SRI International, an R&D and innovation center and creator of Siri, and BBVA, a global financial services group.

"We are thrilled to receive support from investors with such deep knowledge and connections in the financial services industry.  The tremendous interest we received in this round validates our mission to enable businesses to radically simplify and enhance consumers' daily lives through virtual specialists," said Zor Gorelov, CEO and co-founder, Kasisto. 

A spin-off venture from SRI International, Kasisto leverages SRI's leading-edge artificial intelligence technology to deliver a new generation of mobile virtual personal assistants, virtual specialists, that help consumers perform tasks requiring deep knowledge of a service and the consumer's relationship with that service. Kasisto is initially focusing on the financial services vertical and currently working with a number of the world's top banks to pilot virtual specialists for their mobile banking applications.

Virtual specialists can seamlessly perform more complex transactions on mobile devices through speech, text and touch. For example, in a banking application, a consumer can simply ask the virtual specialist to pay a credit card bill from her checking account. The virtual specialist would detect if the funds in checking were insufficient and proactively offer to move money from savings to checking to avoid any overdraft fees. 

The funding round is the latest milestone in Kasisto's rapid progress, including being selected as an inaugural participant in the Wells Fargo Startup Accelerator Fund, a program announced today for technology companies building innovative customer experiences in financial services.

"We're excited to be investing in Kasisto through our Startup Accelerator. It represents precisely the technology innovation we want to bring to our customers," said Steve Ellis, executive vice president and head of Wholesale Services at Wells Fargo.  

Kasisto was also recently recognized as a participant in the highly selective 2014 FinTech Innovation Lab, a 12-week program in which an elite group of growth technology companies are selected to be mentored by senior executives from the top financial services companies and some of New York's leading entrepreneurs and technology luminaries. The Lab was co-founded by Accenture and the Partnership Fund for New York City in 2010.

Joining Kasisto's team of seasoned entrepreneurs and experts in machine learning and artificial intelligence are two new Board of Directors members:  Jeffrey Seltzer, a board member of New York Angels and veteran financial services executive, and William Mark, vice president, Information and Computing Sciences at SRI International.  

"The most powerful technology companies in the world, including Apple, Google and Microsoft, are deploying virtual personal assistants to make it easier and faster for consumers to access Internet services on their smartphones," said Seltzer. "Kasisto's technology and products help financial institutions level the playing field with virtual specialists that seamlessly add intelligent conversational capabilities to their mobile apps."

About Kasisto
Kasisto, Inc. is an SRI International spin-off offering intelligent conversational capabilities through branded virtual specialists to dramatically improve usability of enterprise mobile applications. Kasisto's conversational artificial intelligence platform offers a comprehensive technology stack, including speech recognition, natural language understanding and generation, and artificial intelligence reasoning. Kasisto's user interface provides multi-modal capabilities that let consumers easily and quickly access information and perform simple and complex tasks using voice or text on their smart devices. The company leverages decades of research and development in artificial intelligence by SRI International.

For more information about Kasisto visit www.kasisto.com

Media Contact
Sonya Schaefer
Kasisto, Inc.
[email protected]

SOURCE Kasisto, Inc.

More Stories By PR Newswire

Copyright © 2007 PR Newswire. All rights reserved. Republication or redistribution of PRNewswire content is expressly prohibited without the prior written consent of PRNewswire. PRNewswire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

@ThingsExpo Stories
SYS-CON Events announced today that MobiDev will exhibit at SYS-CON's 18th International Cloud Expo®, which will take place on June 7-9, 2016, at the Javits Center in New York City, NY. MobiDev is a software company that develops and delivers turn-key mobile apps, websites, web services, and complex software systems for startups and enterprises. Since 2009 it has grown from a small group of passionate engineers and business managers to a full-scale mobile software company with over 200 develope...
SoftLayer operates a global cloud infrastructure platform built for Internet scale. With a global footprint of data centers and network points of presence, SoftLayer provides infrastructure as a service to leading-edge customers ranging from Web startups to global enterprises. SoftLayer's modular architecture, full-featured API, and sophisticated automation provide unparalleled performance and control. Its flexible unified platform seamlessly spans physical and virtual devices linked via a world...
Companies can harness IoT and predictive analytics to sustain business continuity; predict and manage site performance during emergencies; minimize expensive reactive maintenance; and forecast equipment and maintenance budgets and expenditures. Providing cost-effective, uninterrupted service is challenging, particularly for organizations with geographically dispersed operations.
SYS-CON Events announced today TechTarget has been named “Media Sponsor” of SYS-CON's 18th International Cloud Expo, which will take place on June 7–9, 2016, at the Javits Center in New York City, NY, and the 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. TechTarget is the Web’s leading destination for serious technology buyers researching and making enterprise technology decisions. Its extensive global networ...
SYS-CON Events announced today that Commvault, a global leader in enterprise data protection and information management, has been named “Bronze Sponsor” of SYS-CON's 18th International Cloud Expo, which will take place on June 7–9, 2016, at the Javits Center in New York City, NY, and the 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. Commvault is a leading provider of data protection and information management...
As cloud and storage projections continue to rise, the number of organizations moving to the cloud is escalating and it is clear cloud storage is here to stay. However, is it secure? Data is the lifeblood for government entities, countries, cloud service providers and enterprises alike and losing or exposing that data can have disastrous results. There are new concepts for data storage on the horizon that will deliver secure solutions for storing and moving sensitive data around the world. ...
SYS-CON Events announced today Object Management Group® has been named “Media Sponsor” of SYS-CON's 18th International Cloud Expo, which will take place on June 7–9, 2016, at the Javits Center in New York City, NY, and the 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA.
SYS-CON Events announced today that MangoApps will exhibit at SYS-CON's 18th International Cloud Expo®, which will take place on June 7-9, 2016, at the Javits Center in New York City, NY. MangoApps provides modern company intranets and team collaboration software, allowing workers to stay connected and productive from anywhere in the world and from any device. For more information, please visit https://www.mangoapps.com/.
The essence of data analysis involves setting up data pipelines that consist of several operations that are chained together – starting from data collection, data quality checks, data integration, data analysis and data visualization (including the setting up of interaction paths in that visualization). In our opinion, the challenges stem from the technology diversity at each stage of the data pipeline as well as the lack of process around the analysis.
The IoTs will challenge the status quo of how IT and development organizations operate. Or will it? Certainly the fog layer of IoT requires special insights about data ontology, security and transactional integrity. But the developmental challenges are the same: People, Process and Platform. In his session at @ThingsExpo, Craig Sproule, CEO of Metavine, will demonstrate how to move beyond today's coding paradigm and share the must-have mindsets for removing complexity from the development proc...
Designing IoT applications is complex, but deploying them in a scalable fashion is even more complex. A scalable, API first IaaS cloud is a good start, but in order to understand the various components specific to deploying IoT applications, one needs to understand the architecture of these applications and figure out how to scale these components independently. In his session at @ThingsExpo, Nara Rajagopalan is CEO of Accelerite, will discuss the fundamental architecture of IoT applications, ...
A strange thing is happening along the way to the Internet of Things, namely far too many devices to work with and manage. It has become clear that we'll need much higher efficiency user experiences that can allow us to more easily and scalably work with the thousands of devices that will soon be in each of our lives. Enter the conversational interface revolution, combining bots we can literally talk with, gesture to, and even direct with our thoughts, with embedded artificial intelligence, wh...
SYS-CON Events announced today that Tintri Inc., a leading producer of VM-aware storage (VAS) for virtualization and cloud environments, will exhibit at the 18th International CloudExpo®, which will take place on June 7-9, 2016, at the Javits Center in New York City, New York, and the 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA.
In his session at 18th Cloud Expo, Bruce Swann, Senior Product Marketing Manager at Adobe, will discuss how the Adobe Marketing Cloud can help marketers embrace opportunities for personalized, relevant and real-time customer engagement across offline (direct mail, point of sale, call center) and digital (email, website, SMS, mobile apps, social networks, connected objects). Bruce Swann has more than 15 years of experience working with digital marketing disciplines like web analytics, social med...
SYS-CON Events announced today that EastBanc Technologies will exhibit at SYS-CON's 18th International Cloud Expo®, which will take place on June 7-9, 2016, at the Javits Center in New York City, NY. EastBanc Technologies has been working at the frontier of technology since 1999. Today, the firm provides full-lifecycle software development delivering flexible technology solutions that seamlessly integrate with existing systems – whether on premise or cloud. EastBanc Technologies partners with p...
SYS-CON Events announced today that BMC Software has been named "Siver Sponsor" of SYS-CON's 18th Cloud Expo, which will take place on June 7-9, 2015 at the Javits Center in New York, New York. BMC is a global leader in innovative software solutions that help businesses transform into digital enterprises for the ultimate competitive advantage. BMC Digital Enterprise Management is a set of innovative IT solutions designed to make digital business fast, seamless, and optimized from mainframe to mo...
The IoT is changing the way enterprises conduct business. In his session at @ThingsExpo, Eric Hoffman, Vice President at EastBanc Technologies, discuss how businesses can gain an edge over competitors by empowering consumers to take control through IoT. We'll cite examples such as a Washington, D.C.-based sports club that leveraged IoT and the cloud to develop a comprehensive booking system. He'll also highlight how IoT can revitalize and restore outdated business models, making them profitable...
Customer experience has become a competitive differentiator for companies, and it’s imperative that brands seamlessly connect the customer journey across all platforms. With the continued explosion of IoT, join us for a look at how to build a winning digital foundation in the connected era – today and in the future. In his session at @ThingsExpo, Chris Nguyen, Group Product Marketing Manager at Adobe, will discuss how to successfully leverage mobile, rapidly deploy content, capture real-time d...
SYS-CON Events announced today that ContentMX, the marketing technology and services company with a singular mission to increase engagement and drive more conversations for enterprise, channel and SMB technology marketers, has been named “Sponsor & Exhibitor Lounge Sponsor” of SYS-CON's 18th Cloud Expo, which will take place on June 7-9, 2016, at the Javits Center in New York City, New York. “CloudExpo is a great opportunity to start a conversation with new prospects, but what happens after the...
IoT generates lots of temporal data. But how do you unlock its value? How do you coordinate the diverse moving parts that must come together when developing your IoT product? What are the key challenges addressed by Data as a Service? How does cloud computing underlie and connect the notions of Digital and DevOps What is the impact of the API economy? What is the business imperative for Cognitive Computing? Get all these questions and hundreds more like them answered at the 18th Cloud Expo...