Lorikeet Secures $9 Million in Additional Funding as Market Demand Surges for its AI Customer Support Agents
New funding to be used to expand Lorikeet's platform and market presence, helping more companies across complex and regulated industries use AI agents to offer human quality support at scale
SYDNEY, Feb. 5, 2025 /PRNewswire/ -- AI customer experience pioneer Lorikeet today announces it has raised an additional USD $9 million in funding from Blackbird and its existing investors Square Peg and Skip Capital, fueled by breakout growth in 2024 across key financial centers in Australia, Asia, and the US and just four months after announcing its USD $5 million seed round fundraise last year.
Since launching in October 2024, Lorikeet has increased bookings by 3.5 times, and added several unicorns and public companies in the US and Australia as customers and pilot partners, including market leaders such as Eucalyptus in healthcare, Step in banking, and MagicEden in Cryptocurrency. The new funding will be used to 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 as we know it is broken. Support teams are scattered across time zones, struggling with sky-high turnover rates while customers wait hours or days for help. Basic AI chatbots have failed to fix the problem – they're too rigid to handle anything beyond simple FAQ responses. Even highly funded Silicon Valley darling startups have failed to ship products that can reliably handle complex support cases. Lorikeet is changing that with an AI platform that doesn't just match human agents, but can also uniquely handle complex support queries involving confidential patient information, movement of digital currencies, and more.
"We're not satisfied with using AI to simply summarize FAQs, or implementing architectures passed on by OpenAI," said Steve Hind, Lorikeet's co-founder and CEO. "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."
The company's proprietary 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, while knowing what they don't know, so that they can avoid giving incorrect answers.
Eucalyptus, a global telehealth player, increased customer satisfaction scores (CSAT) by 10 points while doubling support volume in a year without growing the team. 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.
Global Growth From Down Under
"The Australian technology ecosystem continues to produce world-class innovations in artificial intelligence, and Lorikeet stands out as a prime example," said Tom Humphrey, Partner at Blackbird. "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."
Lorikeet has seen strong traction globally, with special momentum in the U.S. across healthcare providers, financial institutions, and technology companies. The company has plans to aggressively expand into the United States, while also growing its local team in Sydney.
"What sets Lorikeet apart is our fundamental understanding that effective customer support requires more than just conversational AI," said Jamie Hall, Co-founder and CTO of Lorikeet. "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."
For more information about Lorikeet's AI-powered customer support platform, visit www.lorikeetcx.ai.
About Lorikeet
Lorikeet is revolutionizing customer experience with the most powerful AI support platform on the market. Through its pioneering intelligent graph technology, Lorikeet enables enterprises to deliver consistent, high-quality customer support at scale. Founded in Sydney, Australia, Lorikeet serves global customers across healthcare, financial services, technology, and other industries where complex, secure customer interactions are mission-critical. Learn more at www.lorikeetcx.ai.
SOURCE Lorikeet
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