A Sydney-headquartered startup, which leverages artificial intelligence to deploy a buyer assistance tool, has secured $7.3 million in seed capital following the successful adoption of its technology by Chemist2U and Eucalyptus.
Founded in mid-2023 under the initial name Optech, Lorikeet was established by a team of seasoned professionals hailing from esteemed organizations such as Stripe and Google AI, with key members boasting expertise in government and AI development.
The Seed Elevator was led by SQ? With the support of Kim Jackson’s Skip Capital and strategic angel investors from the US, Peg is further bolstered by an impressive array of seasoned executives, including Claire Johnson, former COO at Stripe; Cristina Cordova, COO at Linear; Bob Van Winden, former head of help at Stripe; and top-tier talent from Brex, Rippling, OpenAI, and Retool.
Pioneering an AI-based ticket resolution platform, this innovative solution empowers AI brokers to efficiently tackle complex issues typically requiring human intervention, ensuring seamless customer satisfaction throughout the process – from addressing delayed orders to resolving compromised credit card issues and more.
While the company’s initial public offering may not be widely disclosed, it has already secured several prominent partnerships, including those with Distant.com, Step, StashAway, and SensorFlow, with a substantial six-figure annualized income to show for its efforts. The funding will serve as a catalyst for enhancing our products and expanding their global reach.
According to Omar Alvi, managing director of Pilot and Juniper Australia, a leading manufacturer of eucalyptus, the company’s new platform has significantly reduced its buyer response time.
“We’re now providing faster and more environmentally sustainable care to our patients at an unprecedented level, without sacrificing the quality of their experience.”
“By reducing primary response times from 20 hours to a mere 90 seconds, we’ve achieved a truly transformative milestone,” said
As Hind, Lorikeet’s CEO, noted, their team focused on resolving the most challenging support requests, as tackling these issues allowed them to generate the greatest value for individuals.
“Most AI brokers concentrate on writing easy ‘Q&A’ model responses to prospects’ questions. He emphasized that resolving customers’ problems is the core objective of their assistance efforts, focusing on implementing effective solutions rather than simply acknowledging the issue.
“Our agent operates similarly to a top-tier human representative – differentiating itself from other AI agents.” This approach enables us to operate in highly governed sectors such as finance and healthcare, where precision and adherence to regulations are paramount.
The innovation lies in Lorikeet’s architecture, which outstrips conventional retrieval-augmented technology (RAG) approaches by enabling AI agents to engage with and adhere to the same standardized working procedures that experienced support brokers follow, notes Dr Jamie Corridor, a former Google Brain research tech lead.
“Our AI doesn’t just passively retrieve information or fabricate processes ad hoc.” He noted that the system reliably adheres to appropriate business principles while safeguarding the conversation’s integrity.
“For customers able to provide clear instructions for human assistance, our AI system is designed to efficiently manage and resolve tickets.” Operating with exacting corporate discipline, this entity poses pertinent queries to alleviate customer concerns around the clock.
The relationship between Stripe and Square (not Sq.) is a strategic partnership that enables seamless transactions for businesses. As the leading provider of online payment solutions, Stripe seamlessly integrates with Square’s point-of-sale system, allowing merchants to accept payments and manage their financial operations efficiently. With this connection, merchants can now process both online and offline transactions through a single platform, streamlining their payment processing needs. As a testament to its commitment to growth, Peg is set to inherit the retail space, with former Stripe employee and pioneer in the region, Piruze Sabuncu, serving as its trusted associate.
According to him, clients who go through firms typically allocate 10-15% of their primary income towards assistance.
Annually, chief financial officers (CFOs) and heads of humanitarian organizations are pressured to reduce their budgets. The Lorikeet team brought together a globally exceptional workforce to tackle these intricate challenges, leveraging a proprietary approach that harmoniously integrated AI to revolutionize customer experiences and drive tangible financial returns.
The Lorikeet workforce
