An Australia-based startup, Relevance AI, is revolutionizing the way companies build and deploy custom AI agents. With its SaaS-based low-code platform, Relevance AI aims to enable businesses of all sizes to maximize productivity by building AI teams for any use case or function.
Key Takeaway
Relevance AI’s low-code platform empowers businesses of all sizes to build and deploy custom AI agents, revolutionizing the way companies automate repetitive tasks and increase productivity.
Unlocking the Potential of AI for Companies
Traditionally, only companies with large engineering teams could build their own AI workforces. Relevance AI is changing that by providing a low-code platform that takes out the complexity of building AI agents. Co-founder of Relevance AI, Daniel Vassilev, states, “Our mission is to enable teams only to be limited by their ideas, not their size. We make it possible for AI agents to work autonomously and complete detailed workflows or accomplish complex tasks with accuracy and predictability that companies can trust.”
To support its vision, Relevance AI has 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 Insight Partners, its previous investor. The funding will be used to further develop the low-code platform and empower companies to automate repetitive tasks with custom AI agents.
Driving Adoption and Success
With approximately 6,000 companies already signed up over the previous three months, Relevance AI has gained significant traction. These companies have successfully run over 250,000 tasks, such as answering customer inquiries, managing outbound sales, and conducting market research. The startup is now catering to some of the biggest household names in the tech, retail, and fast-moving consumer goods industries.
Relevance AI is initially focusing on two verticals: sales and support teams, which tend to be text-based and provide a significant return on investment (ROI). The startup offers two main products: AI Tools and AI agents. Users can seamlessly integrate these tools into their existing workflows to automate repetitive tasks and complete entire workflows, from research to marketing to sales. Additionally, Relevance AI’s flagship AI agent, the business development representative (BDR) agent, helps sales teams optimize their time by reducing inbox management, follow-ups, and answering basic questions.
Expanding Possibilities and Future Plans
Relevance AI believes that by 2025, every team will have hired at least one AI agent, and by 2030, businesses will have fully-fledged AI teams supporting them. The startup’s aim is to put repetitive work on autopilot with a trusted AI co-worker, offering task-based outcomes and seamless delegation of work.
Relevance AI’s platform has numerous potential applications. Product managers can leverage AI agents to assist with producing specs and research, while engineers can utilize them for code reviews. The startup is also experimenting with multi-modal use cases involving image and audio, further expanding the possibilities of AI automation.
Founded in 2020 by Daniel Vassilev, Jacky Koh, and Daniel Palmer, Relevance AI currently has 19 staff members. The company plans to scale its team and establish an office in San Francisco in 2024, expanding its presence in the U.S.
