Laiye, a global intelligent automation company, has announced the completion of its US$160mn Series C funding round with the latest tranche at US$70mn.
Founded in 2015, Laiye is a leading Robotic Process Automation (RPA) and Artificial Intelligence (AI) provider.Its integrated suite of AI-powered RPA, intelligent document processing (IDP) platform, and Chatbot solutions help organisations in the insurance, communications, electric power, finance, retail, and healthcare industries operate at new levels of productivity and efficiency to drive new levels of success.
Guanchun Wang, Chairman and CEO of Laiye said: "Laiye has made great strides in expanding its success in China to Asia Pacific, the Americas and EMEA. We envision a future where all organisations and people are transformed, emboldened and made better by the power of intelligent automation. An AI-enabled digital workforce developed from Laiye’s integrated intelligent automation platform will help our customers accelerate their digital transformation journey. This new round of funding will continue to fuel our relentless product innovation and triple-digit YoY revenue growth in the years to come.”
Growing the business to serve more enterprises
Over the past 12 months, Laiye more than doubled its team outside China to 100+ employees, about 15% of the total workforce, grew its partner network to 600+ strong and fostered one of the world’s largest intelligent automation developer communities of more than 600,000 registered users globally.
This funding round comes on the back of Laiye's recent acquisition of Paris-based Mindsay, a leading European enterprise conversation AI firm, and the establishment of a new R&D hub in Paris. Laiye plans to deploy the new capital to accelerate expansion in APAC, the Americas and EMEA.
Ronen Lamdan, CEO of Laiye International, said: "At Laiye, we are striving to fulfil our mission of harnessing intelligent automation technology to liberate workers from mundane tasks, enhance workplace efficiency, and transform businesses at speed and scale. This latest round of financing will accelerate our business growth and enable us to serve more large enterprises, government organisations, and SMEs across the world.”
Improving customer experience
Global customers of Laiye’s include Porsche, LVMH, AstraZeneca, Johnson & Johnson Medical, and Roche Pharmaceuticals. A market leader in China, Laiye provides Intelligent Automation solutions to Chinese companies such as China Southern Power Grid, PetroChina, Bank of China, China Construction Bank, China Unicom, China Mobile, and China Telecom.
Albert Lu, Head of Market Access and Innovation Digitalisation at Johnson & Johnson, said: “Laiye has successfully implemented our conversational AI which helped to streamline and improve our communication with customers, making it more efficient, personalised, and cost-effective. Continuous data accumulation and mining enhance our chatbots’ accuracy, thus improving our ability to serve our customers.”