Sydney-based startup Relevance AI announced it has secured $10 million in Series A funding to continue developing its platform for easily building AI agents to automate business workflows. The round was led by King River Capital, with participation from Peak XV’s Surge, Galileo Venture and Insight Partners.
Relevance AI provides a no-code SaaS platform for companies to create customized AI agents that can manage repetitive tasks autonomously. The agents can interact in natural language to complete workflows in areas like customer support, sales, and research. Relevance AI claims its tools can improve worker efficiency by up to 40%.
Over the last three months, Relevance AI has seen rapid growth, with 6,000 businesses signed up to use its platform. These companies have already automated over 250,000 tasks. Early adopters span major tech firms, retailers, and consumer brands looking to maximize productivity.
The startup recently launched its business development representative (BDR) agent to specifically help sales teams save time on essential but mundane duties like inbox management and booking meetings. Additional AI agents focused on other functions are in development.
The startup's vision extends beyond immediate applications. The company anticipates a future where every team will have integrated at least one AI agent by 2025, and within this decade, full-fledged AI teams will be commonplace in the business environment. They say this projection is not just ambitious but grounded in the current trajectory of AI adoption and the tangible benefits AI agents bring to businesses, particularly in efficiency and productivity.
As more businesses explore uses for generative AI, Relevance AI aims to make adoption simple. Its low-code platform allows any team to build customized AI assistants tailored to their unique needs, ensuring companies both large and small can take advantage of AI's benefits.