#Australia #Sydney #funding #Lorikeet #AI customer support

Lorikeet's Growth Surge in the AI Customer Support Sector

Lorikeet, a leader in AI-driven customer experience solutions based in Sydney, has recently announced it has raised an impressive AUD $9 million in additional funding from Blackbird and existing investors like Square Peg and Skip Capital. This significant funding comes on the heels of a remarkable growth trajectory observed in 2024, primarily across crucial financial hubs in Australia, Asia, and the U.S. This follows merely four months after the company secured a previous seed funding of USD $5 million in 2024.

Since its launch in October 2024, Lorikeet has seen an extraordinary increase in bookings—up to 3.5 times—while attracting several high-profile clients, including unicorns and leading companies in the healthcare, banking, and cryptocurrency sectors. Notable names such as Eucalyptus, Step, and MagicEden have adopted Lorikeet's revolutionary AI agents to tackle complex support inquiries effectively.

The increasing funding will be strategically utilized to enhance Lorikeet's intelligent graph technology and expand its operational capabilities. Furthermore, it aims to accelerate market entry initiatives across critical industries including healthcare, technology, and financial services.

In an age where traditional customer support is faltering, Lorikeet sets itself apart by addressing the pressing need for solutions that operate far beyond basic FAQ responses offered by standard AI chatbots. Currently, support teams are overwhelmed due to high turnover rates and scattered resources, leaving customers in long waits for assistance. Lorikeet aims to resolve these issues with its advanced AI platform that not only matches human agents' capabilities but is also adept at managing delicate, stakeholders' information like health data and digital currency transactions.

A New Era for Customer Support

"We are not content with merely using AI for summarizing FAQs or replicating existing structures from major players like OpenAI," states Steve Hind, co-founder and CEO of Lorikeet. He emphasizes that their intelligent graph architecture is custom-built to empower AI-driven solutions capable of managing complex workflows within highly regulated industries, enabling interactions that were previously impossible.

The proprietary technology developed by Lorikeet ensures sophisticated workflows can be orchestrated for customers, whether it’s performing secure credit card replacements or validating sensitive medical queries and cryptocurrency transactions. One of the key features of Lorikeet’s AI agents is their ability to provide high-quality customer interactions while recognizing their limitations, thereby avoiding potentially misleading information.

The real-world impact of Lorikeet’s solutions is evident through customer success stories. Eucalyptus, a company focused on telehealth services, reported a remarkable 10-point increase in customer satisfaction while managing to double its support volume without expanding its team. Similarly, MagicEden, a popular hub for NFTs, saw its customer satisfaction scores rise from 45% to 75% after collaborating with Lorikeet amidst rising demand from the cryptocurrency market. The fintech entity Breeze successfully resolved a remarkable 40% of its intricate queries solely using Lorikeet's platform within just a month of implementation.

Going Global From Australia

The ongoing success of Lorikeet is a testament to the vibrant and innovative Australian technology landscape, as highlighted by Tom Humphrey, a partner at Blackbird. According to him, Lorikeet exemplifies how advanced AI workflows can tackle complex customer support challenges effectively. The market for AI in enterprise customer support is vast, and Lorikeet stands at the forefront of this evolution.

As the company drives its growth aggressively, particularly in the U.S. where demand is surging across healthcare, tech, and finance, they also plan to enhance their local presence in Sydney. Co-founder and CTO Jamie Hall asserts, "Effective customer support transcends mere conversational AI. Our intelligent graph technology uniquely addresses intricate customer inquiries, ensuring accurate and sensitive information handling."

For those interested in exploring Lorikeet’s innovative offerings, further details can be found on their website: www.lorikeetcx.ai.

About Lorikeet

Founded in Sydney, Lorikeet is transforming the landscape of customer support through its cutting-edge AI platform. By leveraging intelligent graph technology, it provides solutions that empower companies to deliver reliable, high-quality customer interactions across various sensitive sectors, including healthcare and finance. For more information, visit www.lorikeetcx.ai.