Leena AI, an artificial intelligence-based employee experience platform, has announced an $8 million funding in Series A round led by Greycroft. According to the official release of the company, the funding is going to be used for expanding its go-to-market programs, hiring talent as well as accelerating product development.
Apart from Greycroft, the financing round also included a personal investment from Adam Miller, the founder of Cornerstone OnDemand; Alan Patricof, the chairman of Greycroft; and Jim Moffatt, the ex-chairman and CEO of Deloitte Consulting. Along with the funding, Mark Terbeek, a partner at Greycroft, will also be joining Leena AI’s board.
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In 2018 the company, Leena AI, was working on building an intelligent virtual assistant, aka chatbot, for addressing Human Resources-related issues. However, recently, the company has moved its focus on to more broader HR service delivery. This funding would allow Leena AI to continue its growth and momentum and would enable them to continue developing solutions to modernise legacy employee experience.
For the chatbot, the company leveraged artificial intelligence to provide real-time answers automatically to employee queries for creating a better support system for employees. With Leena AI, businesses can streamline their employee management system as well as meet employee needs and process gaps.
“Our intention is to cover all major workflows and help modernise all the legacy workflows and processes throughout the employee lifecycle with the help of AI.” said Adit Jain, Co-founder and CEO, Leena AI.
He further added, “As a part of our continuous effort to make life easier for enterprise employees, we will also be onboarding resellers and building long-term partnerships.” This funding will push the mission of elevating employee experience with the help of AI-powered conversations and insights and become the Siri for enterprise employees.
When asked, Mark Terbeek, the partner at Greycroft, who will be joining the Leena AI team, stated to the media, keeping employees has been crucial for attracting and retaining world-class talent. With the advent of remote work environments, keeping employees satisfied will be even more critical.
This company, with the help of artificial intelligence, has created a scalable AI platform that addresses employee requests becoming a single access point for all of its critical HR needs, stated Terbeek.
Over the past nine months, Leena AI has grown the team from 30 people to 75 now and brought on more than 100 enterprise customers, including clients like Lafarge Holcim, Abbott, Coca-Cola, AirAsia, Vodafone, Sony Pictures, etc. Leena AI has also managed to grow the individuals on the platform to more than 150,000 employees, with revenue growth of 350%.
According to Jim Moffatt, one of the investors believes that enhancing both the employee experience and engagement is critical for digital transformation. He further stated to the media that Leena AI is uniquely positioned to empower mid-market and enterprise companies to transform their employee’s digital experience, driving huge efficiencies, while maximising employee engagement.