Relevance AI Raises Series A

Many companies already use generative AI tools, like OpenAI’s ChatGPT, which can help improve workers’ performance by as much as 40% compared with workers who don’t use it. However, only businesses with large engineering teams can build their own AI workforces. An Australia-based startup, Relevance AI, wants to help companies of all sizes build custom AI agents for any use case or function to maximize productivity with its SaaS-based low-code platform. The startup said it had raised $10 million (AUD 15 million) in a Series A funding round led by King River Capital with participation from global investors Peak XV’s Surge, Galileo Venture and its previous investor Insight Partners. Relevance AI will use the new capital, which brings its total raised to $13.2 million, for its low-code platform that lets companies build and deploy custom AI agents to automate repetitive tasks.