Why we’ve raised another $11m

After seeing explosive growth following our seed round last October, we are stoked and fortunate to have raised another USD $11m in funding led by Tom Humphrey at Blackbird with participation from our existing investors Square Peg and Skip Capital.

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Lorikeet builds AI-powered agents used to perform customer service tasks by high-profile online health start-up Eucalyptus, crypto gaming platform Immutable, andUS financial services company Step.

Australian start-up Lorikeet cracks $100m valuation in AI agent boom, AFR

Continuing to grow a global, stellar team

After winning more than a handful of big deals against some of the giants in the market, Jamie and I realized we needed to grow the team rapidly to keep up with growing demand for Lorikeet.

We're using most of the funds to grow our engineering teams. Yes there's opportunity to sell, and we're hiring there too, but the biggest opportunity is to make our products even more powerful for our customers.

Delivering quality CX for customers with higher standards

Our customers continue to see incredible results. With careful use of Lorikeet alongside their talented support and clinical teams, while support volume doubled in the last year, Eucalyptus have not had to add any headcount. They've done this while improving CSAT 10ppts and ensuring every patient gets a response within 90 seconds. Talk about a win/win.

And then there’s Magic Eden, who replaced their old AI agent from a noisy and highly funded competitor with Lorikeet. Within the first month of rolling out, they achieved a CSAT of 74%: approximately 30 percentage points higher than <redacted>.

Faster, safer, smarter deployment (across more channels)

So what are we building next? We don’t share all our secrets! What I will say is that now we have a  product that’s delivering real results for our customers, we’re keen to streamline the agent training experience to enable faster and (even) safer agent deployments across chat, email, and voice. 🤫

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I’ll leave you with this… The main determinant of the quality of the support experience is the intent of the company offering it, not the tools they use. Good support can be provided by both AI and humans, and bad support can occur with both as well. Lorikeet is not a solution for great CX; it’s a platform that enables you to achieve it. If that sounds good to you, let’s talk.

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P.S. We’re hiring