Relevance AI secures $15M in Series A for global growth

Australian AI company Relevance AI has raised $15M in its Series A funding to scale its team globally.

[L-R] Daniel Vassilev, Daniel Palmer and Jacky Koh.

The funding was led by AI specialist VC, King River Capital along with global investors Peak XV’s Surge, Galileo Ventures and previous investor, Insight Partners.

Relevance AI has plans to expand into San Francisco next year.

Its long-term mission is to help companies build AI workforces, teams of AI agents with different specialities that work together to complete complex tasks. Relevance AI said this latest round of funding will bring it closer to realising this mission.

Daniel Vassilev, co-founder of Relevance AI said the company’s mission is to enable teams to only be limited by their ideas, not their size – from the seasoned industry player to the ambitious newcomer.

“We take out the complexity and make it possible for AI agents to work autonomously and complete detailed workflows or accomplish complex tasks with accuracy and predictability that companies can trust,” he said.

“Working hand-in-hand with human teams, AI agents can enable businesses to scale like never before. Our platform is leading the way in the multi-agent systems category. We’re proud to have leading venture capital firms across key regions backing us on our journey.”

Jacky Koh, co-founder of Relevance AI said, “Leading machine learning teams at large enterprises, I’ve seen first-hand the challenges presented in deploying the technology and the value it can drive.

“Over the last two years, we’ve seen the value grow even more with generative AI. This is going to keep compounding, to the point where we envisage that the AI workforce will be the driving factor of the next doubling of human prosperity.”

Zeb Rice, co-founder of lead investor King River Capital said, “Relevance AI is the first company in the world to truly move beyond the classic search box or co-pilot interface that has predominated with generative AI so far.

“Instead, Relevance AI unlocks this new technology's true potential through the use of pre-built components and visual interfaces that help anyone create and manage AI teams from scratch, supercharging employee productivity. It’s a game changer.”

Relevance AI helps businesses build custom AI agents that can autonomously complete repetitive reasoning tasks. It has clients in tech, retail, property, and fast-moving consumer goods.

In the last four months, 6,000 companies have signed up with Relevance AI, and run over 250,000 tasks such as answering customer inquiries, managing outbound sales, or conducting market research.