The Series B round brings Leena AI's total funding to $40.1M. Here are the top-line bullets you need to know.
Leena AI, a developer of conversational AI chatbots for HR, has raised $30M in a Series B. The round drew participation from Greycroft, Bessemer Venture Partners, and B Capital Group.
How’s the company performing?
- Delaware-based Leena AI helps several companies automate conversations with employees in order to answer general questions and provide access to personal data and documents. It also provides automated employee engagement tools that can be used to conduct surveys related to things like worker sentiment.
- The startup has witnessed 300% year-over-year revenue growth.
- The platform integrates with internal HR systems, such as SAP, Oracle, and Workday, and is used by more than 100 customers, including HDFC Bank, Al-Jazeera, Reserve Bank of India, Odessa, and Houston Methodist.
- Leena AI’s platform has been deployed across 60 countries and currently caters to over 3M employees.
Source: Leena AI
Why does the market matter?
- The AI-powered process automation market is forecasted to grow at a CAGR of 12.9% to reach a value of $24.9B by 2028, according to Data Bridge Market Research
- The market is currently witnessing investment growth. Blue Prism, for instance, raised over $120M last year, while Kryon raised $40M in 2019. Enterprise incumbents are entering the market as well. For example, last year, Microsoft acquired Softomotive and IBM acquired WDG Automation.