New funding to be used to expand Lorikeet’s platform and market presence, helping more companies across complex and regulated industries use AI agents to offer human quality support at scale
AI customer experience pioneer Lorikeet announces it has raised an additional USD $9 million in funding from Blackbird and its existing investors Square Peg and Skip Capital, fueled by breakout growth in 2024 across key financial centers in Australia, Asia, and the US and just four months after announcing its USD $5 million seed round fundraise last year.
Since launching in October 2024, Lorikeet has increased bookings by 3.5 times, and added several unicorns and public companies in the US and Australia as customers and pilot partners, including market leaders such as Eucalyptus in healthcare, Step in banking, and MagicEden in Cryptocurrency. The new funding will be used to further enhance Lorikeet’s intelligent graph technology, expand the company’s enterprise capabilities, and accelerate go-to-market initiatives across key industries including healthcare, financial services, technology, and more.
Customer experience as we know it is broken. Support teams are scattered across time zones, struggling with sky-high turnover rates while customers wait hours or days for help. Basic AI chatbots have failed to fix the problem – they’re too rigid to handle anything beyond simple FAQ responses. Even highly funded Silicon Valley darling startups have failed to ship products that can reliably handle complex support cases. Lorikeet is changing that with an AI platform that doesn’t just match human agents, but can also uniquely handle complex support queries involving confidential patient information, movement of digital currencies, and more.
“We’re not satisfied with using AI to simply summarize FAQs, or implementing architectures passed on by OpenAI,” said Steve Hind, Lorikeet’s co-founder and CEO. “Our intelligent graph architecture is purpose-built ground up to enable AI agents to reliably handle complex workflows in highly regulated industries that were previously impossible for AI to handle.”
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The company’s proprietary intelligent graph technology orchestrates sophisticated workflows for tasks ranging from secure credit card replacements to effective triage of medical issues and cryptocurrency transaction verification. Lorikeet’s AI agents are distinctive in their ability to deliver high quality interactions on complex, multi-conditional customer problems, engage on highly sensitive or regulated topics, while knowing what they don’t know, so that they can avoid giving incorrect answers.
Eucalyptus, a global telehealth player, increased customer satisfaction scores (CSAT) by 10 points while doubling support volume in a year without growing the team. Magic Eden, a top NFT Hub who was facing surges in support volume due to the cryptocurrency bull market and increased interest and usage of their mobile app, adopted Lorikeet to handle the volume while seeing CSAT increase to 75%, up from 45% with their previous AI agent provider. Breeze, APAC-based fintech, was able to independently resolve 40% of their complex support volume with Lorikeet within 30 days, including questions about KYC reviews, transaction statuses and declines.
Source: PRNewswire
