Lorikeet, a two-year-old artificial intelligence start-up based in Sydney, is capitalising on strong enterprise demand for AI agents. The company has secured $54M in investment from US-based investors, aiming to scale its platform that automates complex customer support tasks. This move pits it directly against billion-dollar competitors.
AI agents are becoming increasingly popular with companies looking to automate multi-step tasks that previously required human involvement. Lorikeet is at the forefront of this trend. Founded by seasoned professionals from the tech industry, its AI technology works across chat, email and voice platforms. The system acts like an intelligent concierge and can handle tasks such as replacing lost debit cards independently.
The company raised funding as recently as February at a $100M valuation. Its latest growth has caught the attention of venture capitalists. Unlike general-purpose players like OpenAI, Lorikeet is focused on a specialised market, taking on firms such as Intercom, Decagon and Sierra, which have valuations exceeding $1.5B. Lorikeet claims its product consistently outperforms these rivals when evaluated by enterprise clients.
Lorikeet now employs 35 people across Australia, the US and the UK. Two-thirds of its revenue comes from outside Australia. Since launching its first product in October, it reports tenfold revenue growth. Investors believe this momentum could make Lorikeet a global leader in enterprise AI, especially as it gains ground in the US market.
While AI adoption often raises concerns about job losses, Lorikeet’s clients seem to be using the technology to improve service delivery. For example, AI agents enable 24/7 chat support instead of relying on email contact or limited business hours. The company plans to use most of the new funding on product development and market expansion, confident that it is only at the beginning of reshaping customer service operations.
