Relevance AI raises $24M to help businesses build AI agents
Individuals can work closely with AI agents as they occur more and more often in the workplace. According to a report from Boston Consulting GroupThe AI agents market is expected to grow with an annual growth rate of 45% in the next five years.
Just like human employees, AI agents can be brought on board to learn different roles, gain access to company information and business contexts and integrate into workflows. In addition, In contrast to traditional automation toolsAI agents have the potential to constantly adjust and improve their activities.
Relevance AIA startup in San Francisco and Sydney that develops an AI agent “operating system” to enable companies to build teams from AI agents, has collected $ 24 million in series B financing led by Bessemer Venture Partners. Recurring investors King River Capital, Insight Partners and Peak XV also participated and raised the total relevance to $ 37 million. The company has not provided its appreciation.
Fundraising comes about a year and a half years after the startup has closed its Serie A. Relevance, says that it has experienced rapid growth, with 40,000 AI agents registered on his platform.
Customers include qualified, activity and safety culture.
Relevance must compete with players in the AI agent space such as Rentell, QEEN.AI, Smythos” Sticky.ai” Cykel AIAnd Microsoft. The five-year-old company sees agent builder platforms, vertical agent software and agent Engineering Frameworks as competition, according to Co-CEO and co-founder Daniel Vassilev.
‘[W]Even seeing that established operators such as Salesforce have a big gamble on the value of agents, “Vassilev told WAN in an interview.”[Relevance] enlist[s] The agent training to really specialize in the niche workflows of their organization. We are also tool and model-agent, so that our customers can use their entire technical stack throughout their company instead of just the ecosystem of one supplier. “
Relevance says it will use its new financing to further improve the product capacities of his AI agents and to offer support to customers in his primary markets of Australia and the US Vassilev has moved to San Francisco to open the office of the relevance and to build its go-to-market team. The company says that today has 80 people in the offices of San Francisco and Sydney, an increase of 19 employees in 2023.
Falling together with its series B financing, relevance introduces two new functions on its platform. “Workforce” is a no-code multi-agent system that is designed to help non-technical professionals and engineers build specialized teams from agents to work together as human employees, where complex processes are completed from start to finish. “Invent” is a tool with which users can make AI agents using text prompts.
