technology

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


Mumbai: Leena AI, an enterprise software-as-a-service company, has raised $30 million in a Series B funding round led by Bessemer Venture Partners, along with participation of Facebook cofounder Eduardo Saverin’s B Capital Group.

The funding will help the company launch new products, enter new geographies such as North America and Europe, and hire talent for marketing and sales.

The round also saw participation from existing investors Greycroft. With this, the Y Combinator-backed company has raised $40 million so far. The company had previously raised $8 million in its Series A funding round and $2 million as part of its seed round.

“We plan to expand our employee experience suite to products for functions such as IT, sales and finance by early 2022,” said Adit Jain, cofounder and CEO at Leena AI.

Founded in 2017 by Jain, Mayank Goyal and Anand Prajapati, the AI-powered employee helpdesk currently has around three million users across 60 countries. It is expected to reach 100 million users over the next 12 months, said Jain. The platform helps resolve and answer employee queries autonomously with Leena AI’s advanced machine learning, Conversational AI, and Natural Language Understanding platform.

“We are looking at hiring around 500-600 people across functions and geographies to power our growth ambitions,” Jain told ET. “We might consider acqui-hiring to bring in the right talent on board.”

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According to the company, it is soon going to reach an annual recurring revenue of $10 million, a 300% growth year-on-year. “The company’s AI-led innovation enables enterprises to deliver great employee experiences across functional areas,” Anant Vidur Puri, partner at Bessemer Venture Partners, said.

Today, Leena AI counts companies and organisations such as Coca-Cola, Nestle, Abbott, Puma, P&G, Bayer, Al-Jazeera, HDFC Bank, Reserve Bank of India, Houston Methodist, Odessa, and Icertis among its list of clients.

“HR is an area in desperate need of disruption, with many slow, manual processes overwhelming HR departments.” said Mark Terbeek, partner at Greycroft. “The Leena AI team has been able to bring HR into the modern era through automation and machine learning, enabling better employee engagement.”



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