Rasa secures 30 million dollars in Series C financing round

With an impressive $30 million Series C funding round led by StepStone Group and PayPal Ventures, Rasa is setting new standards in the development of generative AI assistants for businesses.

Berlin, San Francisco - Rasa, a generative conversational AI platform, has announced the successful completion of its Series C funding round. The round was led by StepStone Group and PayPal Ventures, with participation from Andreessen Horowitz (a16z), Accel and Basis Set Ventures. A total of 30 million US dollars was raised.

This investment accelerates our lead in the market and drives our ambition to redefine what is possible for businesses with generative AI-powered chat and voice platforms at scale

Melissa Gordon, Managing Director of Rasa

Dr. Alan Nichol, Co-Founder and Chief Technology Officer of Rasa, highlighted that Rasa is setting new standards in conversational AI. Unlike many industry players, Rasa is not simply integrating Large Language Models (LLMs) into existing platforms, but has fundamentally reinvented the way conversational AI works.

AI assistants for specific business logic

Rasa helps companies develop sophisticated and robust AI assistants tailored to specific business logic. The recently launched platform, Rasa Pro and Rasa Studio with CALM (Conversational AI with Language Models), combines the flexibility of large-scale language models with the control and security of traditional chatbots.

Rasa, founded in 2016, has offices in San Francisco, Berlin, London, Paris and Belgrade. The company is known for its generative AI platform, which is an open and customizable solution for companies looking to improve customer interaction while reducing costs. Rasa is backed by renowned investors such as StepStone, PayPal, Accel, Andreessen Horowitz and Basis Set Ventures.

Stepstone Group & PayPal Ventures

Rasa has proven time and time again that security-conscious enterprise customers can safely deploy the latest conversational AI

Hunter Somerville, Partner at StepStone Group

A notable development is the participation of PayPal Ventures as the venture capitalist's first AI investment. Alan Du, Partner at PayPal Ventures, emphasized that Rasa provides a first-class platform for companies to develop robust, conversational AI. Rasa is already used by two of the world's three largest banks, major insurance companies and global travel and hospitality companies. The new funding will be used to further expand the Rasa team and help shape the future of AI assistants