CA-RASA
Rasa, the leading generative conversational AI platform today announced the completion of its $30 million Series C funding round, co-led by StepStone Group and PayPal Ventures, with participation from Andreessen Horowitz (a16z), Accel, and Basis Set Ventures.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20240214117810/en/
Rasa Series C Investors - StepStone Group, PayPal Ventures, Andreessen Horowitz, Accel, Basis Set Ventures (Graphic: Business Wire)
“This investment accelerates our lead in the market, and fuels our drive to redefine what is possible for businesses using generative AI-powered chat and voice platforms at scale,” said Melissa Gordon, Rasa CEO. “With our technology, we’re well-positioned to transform how businesses interact with their customers, making every conversation impactful and personal. We will use the funding to advance our technological leadership and strengthen our market presence.”
Dr. Alan Nichol, Rasa Co-Founder and CTO, added, “At Rasa we’ve reinvented how conversational AI works. While many in the industry claim to incorporate generative AI, often it’s merely an addition of LLMs onto their existing platforms.”
Rasa continues to deliver on its mission to empower the world’s largest brands to address people’s needs with open and extensible conversational AI. Rasa powers sophisticated and robust AI assistants aligned with customers’ business logic that provide meaningful and practical user engagement. The recent launches of Rasa Pro and Rasa Studio with CALM (Conversational AI with Language Models) deliver a major innovation that combines the flexibility, nuanced understanding, and fast time-to-value of Large Language Models (LLMs) with the control and certainty of traditional (NLU-based) chatbots. With out-of-the-box conversation handling, CALM ensures user interactions remain coherent and natural. Rasa Studio adds an intuitive UI that's built from the ground up for CALM, saving significant development time and reducing costs by reducing the reliance on specialist teams.
“Rasa delivers unparalleled value to its clients by automating or eliminating the most expensive and time consuming aspects of delivering excellent customer service,” said Hunter Somerville, Partner at StepStone Group. “Rasa proves time and again that security-conscious enterprise customers can safely deploy the latest conversational AI, with an elegant low-code platform that offers robust functionality, data privacy, and scale.”
PayPal Ventures joins this round as the venture firm’s first AI investment, marking the launch of its new AI Fund to invest in early stage AI startups across all industries and verticals. “We are thrilled to mark the launch of our AI Fund with our investment in Rasa,” said Alan Du, PayPal Ventures partner. “We believe Rasa offers a best-in-class platform for enterprises to develop robust, conversational AI, and we have seen how its concierge solutions improve customer engagement and business performance.”
Rasa powers two of the world’s three top banks, major insurers, and global travel and hospitality companies, among others. Rasa has been downloaded more than 50 million times by developers.
“Rasa’s latest platform marks a revolutionary advancement in the realm of conversational AI. It effortlessly combines ease of use with advanced capabilities and will enable us to securely leverage the potential of Large Language Models to create an even more intuitive conversational experience for our customers,” remarked Andreas Bohmann, VP IT Enterprise and Integration Architecture at Deutsche Telekom.
The new funding will also allow Rasa to continue growing its team, which is dedicated to reshaping the future of AI assistants. Rasa is currently hiring several exciting roles across North America and Europe in Marketing, Sales, Engineering, Customer Success, and more.
To see a list of all open roles, visit the Rasa Careers page today at: rasa.com/careers/
About Rasa
Rasa is the leader in generative conversational AI, enabling enterprises to build and deliver next-level AI assistants. Merging a state-of-the-art engine with a user-friendly low-code UI, Rasa offers an open and adaptable platform that perfectly aligns with business logic. This innovative approach makes Rasa a reliable and trusted choice for enterprises seeking to enhance customer interactions while reducing costs. Rasa is privately held with funding from StepStone, PayPal, Accel, Andreessen Horowitz, Basis Set Ventures, and others. The company was founded in 2016 and is remote-first with a presence in San Francisco, Berlin, London, Paris and Belgrade.
About StepStone Group
StepStone Group (Nasdaq: STEP) is a global private markets investment firm focused on providing customized investment solutions and advisory and data services to our clients. StepStone’s clients include some of the world’s largest public and private defined benefit and defined contribution pension funds, sovereign wealth funds, and insurance companies, as well as prominent endowments, foundations, family offices, and private wealth clients, which include high-net-worth and mass affluent individuals.
About PayPal Ventures
PayPal Ventures is the global corporate venture arm of PayPal. We invest for financial return in companies at the forefront of innovation in fintech, commerce enablement, digital infrastructure, and crypto/blockchain technologies. Through the expertise, experience, and vast network of PayPal Ventures – and the companies we invest in – we are helping to bring transformative solutions to market faster. For more information, please visit: www.paypal.vc.
To view this piece of content from cts.businesswire.com, please give your consent at the top of this page.
View source version on businesswire.com: https://www.businesswire.com/news/home/20240214117810/en/
About Business Wire
Subscribe to releases from Business Wire
Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from Business Wire
British Arab Commercial Bank Partners With Volante Technologies to Modernize Payments Infrastructure With PaaS22.10.2025 15:38:00 CEST | Press release
Volante’s cloud-native platform to unify BACB’s payment operations across SWIFT, CHAPS, Faster Payments, BACS, and more Volante Technologies, the global leader in Payments as a Service (PaaS), today announced a new partnership with British Arab Commercial Bank (BACB), to modernize the bank’s payment processing infrastructure and replace legacy systems with a cloud-native platform. BACB will use Volante’s PaaS solution to automate and streamline the entirety of its payments volumes across multiple payment schemes, including SWIFT MT/ISO 20022, CHAPS, Faster Payments, BACS, and internal transfers. Volante’s solution enables BACB to move beyond legacy systems and manual processes, empowering the bank to raise straight-through processing rates and continue to provide a first-class service to its customers. BACB is an international wholesale bank, with $4.4 billion in assets, who provide a range of trade solutions to clients trading in and out of developing markets, across Africa and the Mi
Qualcomm Schedules Fourth Quarter and Fiscal 2025 Earnings Release and Conference Call22.10.2025 15:00:00 CEST | Press release
Qualcomm Incorporated (NASDAQ: QCOM) today announced that it will publish the Company’s financial results for its fourth quarter and fiscal 2025 on Wednesday, November 5, 2025, after the close of the market on the Company’s Investor Relations website, at https://investor.qualcomm.com/financial-information. The earnings release will also be furnished to the Securities and Exchange Commission (SEC) on a Form 8-K, which will be available on the SEC website at http://www.sec.gov. Qualcomm will host a conference call to discuss its fourth quarter and fiscal 2025 results which will be broadcast live on November 5, 2025, beginning at 1:45 p.m. Pacific Time (PT) at https://investor.qualcomm.com/news-events/investor-events/default.aspx. An audio replay will be available at https://investor.qualcomm.com/news-events/investor-events/default.aspx and via telephone following the live call for 30 days thereafter. To listen to the replay via telephone, U.S. callers may dial (877) 660-6853 and internat
XPRIZE and Avanci Launch Partnership to Provide Innovators with IP and Licensing Expertise22.10.2025 15:00:00 CEST | Press release
Collaboration ensures innovators benefit from critical resources to protect and advance breakthrough solutions XPRIZE, the world’s leader in designing and operating incentive competitions to solve humanity’s greatest challenges, and Avanci, the independent global leader in one-stop IP licensing platforms, today announced a partnership to empower XPRIZE innovators. For more than three decades, XPRIZE competitions have ignited bold solutions that ripple far beyond the competition itself to transform industries, inspire new technologies, and build an extraordinary global ecosystem of innovators dedicated to problem solving. This partnership with Avanci ensures that XPRIZE teams and alumni have access to the expertise and resources they need to protect, scale, and amplify their impact in the real world through access to Avanci’s expertise and experience in intellectual property (IP) protection and licensing. Tailored support from Avanci will help those entrepreneurs protect their breakthro
Cyclic Materials and VACUUMSCHMELZE Expand Partnership to Recycle Rare Earth Magnet Manufacturing Waste in the U.S.22.10.2025 15:00:00 CEST | Press release
Cyclic Materials, the advanced recycling company creating a circular supply chain for rare earth elements (REEs) and other critical materials, today announced an expansion of its partnership with VACUUMSCHMELZE (VAC), a leading developer of magnetic materials and solutions. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20251022335302/en/ The companies have signed a 10-year exclusive agreement for recycling 100 percent of the magnet production byproducts (i.e. swarf) that will be produced at VAC's impressive new manufacturing facility in Sumter, South Carolina scheduled to begin operations at the end of 2025. This extended partnership builds on the 2024 agreement between both companies that ensures efficient recycling of critical materials used in high-performance permanent magnets. "At Cyclic Materials, our mission is to recover critical materials from permanent magnets that can be put back into the magnet supply chain to red
HistoSonics Expands Insurance Coverage for Non-Invasive Liver Tumor Treatment to 45.4 Million Elevance Health Members22.10.2025 14:00:00 CEST | Press release
Coverage effective across Elevance Health’s commercial, Medicare, and Medicaid plans in 14 states Decision informed by growing clinical evidence, with additional real-world and long-term safety and efficacy data now being collected across global centers HistoSonics, the developer of the Edison® Histotripsy System and novel histotripsy therapy platform, today announced that Elevance Health (formerly Anthem, Inc.) has issued a positive medical policy for the use of histotripsy in the treatment of liver tumors. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20251022130560/en/ HistoSonics Non-Invasive Edison Histotripsy System. Image credit: HistoSonics The policy, effective October 21, 2025, expands insurance coverage across Elevance Health’s commercial, Medicare, and Medicaid plans in 14 states, including California, Colorado, Connecticut, Georgia, Indiana, Kentucky, Maine, Missouri, Nevada, New Hampshire, New York, Ohio, Virgin
In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.
Visit our pressroom