AI customer experience company Lorikeet announced it raised $9 million in funding from Blackbird and existing investors Square Peg and Skip Capital. The funding was driven by breakout growth in 2024 across major financial centers in Australia, Asia, and the US. This announcement comes just four months after the company raised a $5 million seed round last year.
Since launching in October 2024, Lorikeet increased bookings by 3.5x and added several unicorns and public companies in the US and Australia as customers and pilot partners, including market leaders like Eucalyptus, Step, and MagicEden. This new funding round will 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 support teams are often scattered across time zones, struggling with sky-high turnover rates while customers wait hours or days for help. And while basic AI chatbots have failed to fix the problem, it is too rigid to handle anything beyond simple FAQ responses. Lorikeet is addressing this with an AI platform that not only matches human agents but can also uniquely handle complex support queries involving confidential patient information, movement of digital currencies, etc.
The company’s 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, and know what they don’t know so that they can avoid giving incorrect answers.
Global telehealth company Eucalyptus had increased customer satisfaction scores (CSAT) by 10 points while doubling support volume in a year without growing the team. And 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.
Lorikeet has seen notable traction globally, with special momentum in the U.S. across healthcare providers, financial institutions, and technology companies. And the company has plans to aggressively expand into the United States, while also growing its local team in Sydney.
KEY QUOTES:
“We’re not satisfied with using AI to simply summarize FAQs, or implementing architectures passed on by OpenAI. 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.”
- Steve Hind, Lorikeet’s co-founder and CEO
“The Australian technology ecosystem continues to produce world-class innovations in artificial intelligence, and Lorikeet stands out as a prime example. The team’s product approach to solving complex customer support challenges through advanced AI workflows is differentiated. Support is perhaps the highest impact and lowest hanging fruit opportunity for enterprise adoption of AI, and the market scale is absolutely enormous.”
- Tom Humphrey, Partner at Blackbird
“What sets Lorikeet apart is our fundamental understanding that effective customer support requires more than just conversational AI. Our intelligent graph technology is unique in its ability to both solve complex customer inquiries and know what it doesn’t know to avoid giving incorrect answers or engaging on highly sensitive or regulated topics.”
- Jamie Hall, Co-founder and CTO of Lorikeet
