Trusted AI leader helps customers navigate chatbot frenzy.
NEW YORK, March 7, 2023 /PRNewswire/ -- Amelia, the enterprise leader in Trusted AI, today announced it has entered into a strategic partnership with BuildGroup and Monroe Capital that will provide financial capital and business leadership. The partnership accelerates adoption of Amelia's Trusted AI products in the market and helps customers safely navigate the high-profile chatbot news cycle in this emerging AI age.
The $175 million investment is led by BuildGroup, an Austin-based firm that builds high-growth technology businesses, and Monroe Capital, a premier boutique asset management firm specializing in private credit markets. With this funding round, Amelia has the financial foundation to extend its leadership position in the market and double down on serving its customers with innovative, explainable AI products. Goldman Sachs & Co LLC and TD Cowen acted as financial advisors to the Company.
This investment comes at a critical time as many companies are considering how to navigate the OpenAI-enabled chatbot frenzy without getting cut by bleeding-edge technology. Amelia offers a unique viewpoint on this hype cycle, moving beyond the limitations of ChatGPT by offering an enterprise AI option that delivers answers and outcomes customers can trust. Amelia's market-leading Conversational AI products and automation platforms harness the latest AI technologies and integrate them into its solution. Amelia's market-leading platform is recognized by analysts as a safe way for enterprises to use cutting-edge AI to deliver better customer outcomes.
As part of the partnership, Lanham Napier, BuildGroup's CEO, will be joining Amelia's Board as Chairman and stepping into an active role on the leadership team. In this role, Lanham assumes responsibility for building the company, and Amelia Founder Chetan Dube will focus his leadership on the Company's research and development, and technical elements of delivery. As an early AI thought leader, Chetan will continue to push the pace in the industry.
"Twenty years ago I was blessed to be CEO of Rackspace and help build the Company from $1.5 million to $1.5 billion in sales at the dawn of the internet age. We now find ourselves at the beginning of the AI age, and Amelia is the right company to lead this new market by helping businesses utilize AI to deliver greater outcomes to their customers. I'm thrilled to jump into the fray with Amelians, and I'm excited for what we have the opportunity to build together. We will do our best for our customers," said Lanham Napier.
Chetan Dube commented, "For Amelia's customers, employees and partners — and for me personally — this partnership is a long time coming. Amelia has been at the forefront of leveraging AI for the betterment of people, the global workforce and ultimately our planet. This investment by our new partners will bring Amelia into a new era of growth driven by our Trusted AI solutions. We are grateful to BuildGroup and Monroe Capital for joining us on this journey."
Amelia is the enterprise leader in Trusted AI. As a pioneer in AI, Amelia has a proven track record of innovation in automation and Conversational AI. Amelia's platform captures the rapid innovation of AI ecosystems and transforms these innovations into enterprise grade products ready for customer consumption. Enterprises use Amelia to drive revenue in conversational experiences and enable productivity through operations automation. Amelia is consistently recognized by third-party analyst firms as a market leader. With offices in the US, Europe and Asia Pacific, enterprises trust Amelia's products and solutions to serve customers on a global basis. Learn more at amelia.ai.
Led by former Rackspace CEO Lanham Napier, BuildGroup invests in technology companies with modern business models. Backed by entrepreneurial families, BuildGroup applies a long-term investment approach, unique operating skills, and partnerships with its network of successful business owners. BuildGroup's portfolio includes Anaconda, Andela, Casetext, Cybrary, Fiix Software, Flowspace and Lendio. For more information on BuildGroup, visit www.buildgroup.com.
About Monroe Capital
Monroe Capital LLC ("Monroe") is a premier boutique asset management firm specializing in private credit markets across various strategies, including direct lending, asset-based lending, specialty finance, opportunistic and structured credit, and equity. Since 2004, the firm has been successfully providing capital solutions to clients in the U.S. and Canada. Monroe prides itself on being a value-added and user-friendly partner to business owners, management, and both private equity and independent sponsors. Monroe's platform offers a wide variety of investment products for both institutional and high net worth investors with a focus on generating high quality "alpha" returns irrespective of business or economic cycles. The firm is headquartered in Chicago and maintains offices in Atlanta, Boston, Los Angeles, Miami, Naples, New York, San Francisco, and Seoul. For more information, visit https://www.monroecap.com/.