Kore.ai, which develops workflow automation technologies, raises $70M

Learn more about what comes next. Kore.ai, a no-code automation platform designed for enterprise applications, today announced that it raised $50 million in a series C round led by Vistara Growth and PNC with participation from Next Equity Partners, Nicola Wealth, and Beedie Capital, along with $20 million in debt from Sterling National Bank. The funds, which bring Kore's total raised to over $100 million to date, will be put toward expanding the company's workforce while developing new product features, according to cofounder and CEO Raj Koneru. In 2015, just 10% of organizations reported that they either already used automation technology or would be doing so in the near future. Fast forward to 2019, and that number rose to 37% -- which means that more than one in three organizations are either using AI or have plans to do so.