Leena AI gets $30 million funding from Bessemer, B Capital

Mumbai: Leena AI, an enterprise software-as-a-service firm, has raised $30 million in a Collection B funding spherical led by Bessemer Venture Partners, together with participation of Fb cofounder Eduardo Saverin’s B Capital Group.

The funding will assist the corporate launch new merchandise, enter new geographies akin to North America and Europe, and rent expertise for advertising and gross sales.

The spherical additionally noticed participation from current buyers Greycroft. With this, the Y Combinator-backed firm has raised $40 million to date. The corporate had beforehand raised $8 million in its Collection A funding spherical and $2 million as a part of its seed spherical.

“We plan to develop our worker expertise suite to merchandise for features akin to IT, gross sales and finance by early 2022,” stated Adit Jain, cofounder and CEO at Leena AI.

Based in 2017 by Jain, Mayank Goyal and Anand Prajapati, the AI-powered worker helpdesk at the moment has round three million customers throughout 60 nations. It’s anticipated to succeed in 100 million customers over the subsequent 12 months, stated Jain. The platform helps resolve and reply worker queries autonomously with Leena AI’s superior machine studying, Conversational AI, and Pure Language Understanding platform.

“We’re taking a look at hiring round 500-600 individuals throughout features and geographies to energy our development ambitions,” Jain instructed ET. “We’d take into account acqui-hiring to herald the precise expertise on board.”

In accordance with the corporate, it’s quickly going to succeed in an annual recurring income of $10 million, a 300% development year-on-year. “The corporate’s AI-led innovation allows enterprises to ship nice worker experiences throughout purposeful areas,” Anant Vidur Puri, companion at Bessemer Enterprise Companions, stated.

In the present day, Leena AI counts firms and organisations akin to Coca-Cola, Nestle, Abbott, Puma, P&G, Bayer, Al-Jazeera, HDFC Financial institution, Reserve Financial institution of India, Houston Methodist, Odessa, and Icertis amongst its record of shoppers.

“HR is an space in determined want of disruption, with many gradual, handbook processes overwhelming HR departments.” stated Mark Terbeek, companion at Greycroft. “The Leena AI crew has been capable of carry HR into the trendy period via automation and machine studying, enabling higher worker engagement.”