GameOn Technology changes its name to On as it raises $25M
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On, previously known as GameOn Technology, has raised $25 million in funding as it transitions from sports to enterprise AI technology.
Bolstered by this fresh capital infusion, On aims to revolutionize the landscape of conversational AI by empowering businesses across various sectors to leverage generative AI for creating products.
The strategic funding round, which brings On’s total raised funds to $80 million, attracted notable participants including Equiam, B3 Capital, Commonwealth Financial Network, and Mirae Asset Venture Investment. The latter had previously co-led the company’s Series B funding round.
With the rebranding as On, the company wants to capitalize on its leadership in AI chat, particularly in the sports sector, and expand its horizons into e-commerce, consumer banking, healthcare, and publishing domains.
Recognizing the burgeoning potential of generative AI in transforming mobile interactions, On aims to drive a new era of chat that seamlessly integrates this technology for businesses, streamlining productization and enriching customer interactions.
A recent On survey among enterprise decision-makers revealed that 88% plan to increase conversational AI investments, yet 24% struggle to monetize it effectively. Addressing this challenge, On seeks to pioneer a vertical AI/SaaS platform, enabling global brands to monetize generative AI efficiently while prioritizing data security, a top concern for stakeholders using Language Model Models (LLMs).
“On has been a trailblazer in innovation, turning conversational AI into a potent revenue-generating asset. As we embrace our new
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