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Finance bots startup Kasisto gets USD 9.2 million funding

Monday 16 January 2017 | 10:15 AM CET

Kasisto, a bots and artificial intelligence company, has raised USD 9.2 million to bolster the company’s personal finance bot KAI and expand its AI virtual assistant offerings to markets beyond finance.

The funding round was led by Propel Venture Partners, with participation from MasterCard, DBS Bank, and Harvard Business School alumnus Angels of New York, among others. To date, Kasisto has raised USD 11.4 million. The company declined to state which industries it plans to enter but said that specifics would be shared at a later date, when asked by VentureBeat.

In June 2016, the company launched AI-powered KAI for personal finance and banking. The bot answers questions about a user’s personal finances and more than 1,000 other questions, like “What is stock?” and “What is the meaning of life?”

Among banks that brought KAI to their customers in 2016, we name Royal Bank of Canada, Development Bank of Singapore, and mobile-only bank Digibank in India. Variations of KAI have also been used to create Val, an intelligent assistant for fintech startup Varo Money, and MasterCard KAI. Both virtual assistants are due out later in 2017.

Kasisto is a spinoff of SRI International, creator of Apple virtual assistant Siri and was founded in 2013. It has offices in Menlo Park, California and New York, with 30 employees.

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