Total amount raised
$34.5 Millions
Latest funding date
6/1/2024
Location
Orby AI has successfully raised $30 million in a Series A funding round to develop AI solutions for enterprises. The platform is designed to bring the auto-complete experience to everyday business users, automating mundane tasks through advanced AI technology.
Keep reading to explore the intricacies of Orby AI's fundraising journey and the investors backing this innovative platform.
What Is Orby AI?
Orby AI, founded on June 2, 2022, is headquartered in Mountain View, California. The company specializes in automating mundane tasks for business users through advanced AI technology.
Founded by Bella Liu and Will Lu, Orby AI leverages its proprietary Large Action Model (LAM) to enhance enterprise efficiency. The platform monitors user activities, identifies repetitive steps, and creates zero-code automations.
With a team of 11-50 employees, Orby AI aims to bring the auto-complete experience to everyday business users, streamlining workflows and improving productivity.
How Much Funding Has Orby AI Raised?
- Seed Round
- Amount Raised: $4.5M
- Date: May 2023
- Lead Investors: New Enterprise Associates, Pear VC
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: Initial development and validation of Orby AI's technology and business model.
- Series A
- Amount Raised: $30M
- Date: June 2024
- Lead Investors: New Enterprise Associates, Wing Venture Capital, WndrCo
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: Accelerate development and commercialization of Orby AI's generative AI process automation platform.
Total amount raised: $34.5M. Current valuation: Not publicly disclosed.
Key Investors
- New Enterprise Associates (NEA)
- Details: NEA is a global venture capital firm that invests in technology and healthcare companies at all stages of growth. They have a strong track record of supporting innovative startups and established enterprises.
- Investment Focus Areas: Technology, healthcare, consumer services
- Notable Investments: Uber, Coursera, Robinhood
- Wing Venture Capital
- Details: Wing Venture Capital focuses on early-stage investments in technology companies. They aim to support long-term company building in the business technology sector.
- Investment Focus Areas: Business technology, enterprise software, cloud computing
- Notable Investments: Snowflake, Cohesity, Gong.io
- WndrCo
- Details: WndrCo is a holding company that invests in, acquires, and operates consumer technology businesses. Founded by Jeffrey Katzenberg, it focuses on transformative consumer tech ventures.
- Investment Focus Areas: Consumer technology, media, entertainment
- Notable Investments: Quibi, Aura, MasterClass
- Pear VC
- Details: Pear VC is a seed-stage investment firm that partners with entrepreneurs from the earliest stages to build category-defining companies. They have a hands-on approach to nurturing startups.
- Investment Focus Areas: Early-stage startups, technology, healthcare
- Notable Investments: DoorDash, Gusto, Guardant Health
What's Next for Orby AI?
Orby AI stands at the cusp of a transformative opportunity, leveraging generative AI to automate complex business processes across industries like technology, insurance, and consumer goods. With a focus on large enterprise customers, the potential market is vast, promising significant growth as the platform continues to evolve.
Future fundraising seems likely, given the positive investor sentiment and the substantial $30 million Series A round. This financial backing will be crucial for scaling operations and enhancing the platform's capabilities. However, challenges such as technical hurdles and market competition could pose obstacles. Educating enterprises on the benefits of generative AI will be key to overcoming these barriers.
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