MOUNTAIN VIEW, Calif., June 27, 2024 (GLOBE NEWSWIRE) -- Orby AI (Orby), a technology trailblazer in generative AI solutions for the enterprise, today announced the closing of its series A round of financing, raising $30 million from world-class investors.
The Series A round was co-led by New Enterprise Associates (NEA), Wing VC and WndrCo with additional participation from Pear VC. The new investments will be used to accelerate the development and commercialization of the industry’s first generative AI process automation platform powered by a sophisticated large action model (LAM). The Series A financing follows a seed funding round co-led by NEA and Pear VC.
“At WndrCo, we strongly believe that AI agents will fundamentally transform the future of work,” said Jeffrey Katzenberg, Founding Partner of WndrCo. “Orby’s platform automates the mundane so that organizations can focus on their most strategic and impactful work. We’re thrilled to partner with the Orby team to bring these capabilities to large enterprises.”
Redefining What’s Possible
Most of today's businesses have essential activities, such as data entry, document processing and validation of complex forms, invoices, expenses and contracts, that can be fully automated.
However, many organizations don’t have a clear technical understanding of what is feasible. This forces them to waste time and money discovering what workflows are best to automate first. Unfortunately, traditional automation solutions lack the necessary AI sophistication and remain too costly and technically challenging to automate more complex repetitive work beyond simple rules-based automation.
“We see a massive market opportunity in the application of generative AI technology to address complex enterprise workflows that can negatively impact productivity,” said Bruce Beck, Enterprise Systems CIO at JLL Technologies. “Orby’s unique AI approach stands poised to revolutionize the very fabric of enterprise, untangling the knots of complex workflows and ushering in a future of unparalleled efficiency.”
“Yesterday’s process automation solutions were never designed to address the dynamic and complex nature of work being performed within the enterprise,” said Bella Liu, Co-Founder and CEO of Orby AI. “At Orby, we are blowing the lid off what AI can do for enterprises with a completely new platform that observes and learns any task performed, analyzes it contextually, and creates automated workflows that can be immediately enacted,” Liu concluded.
Orby AI has developed the first self-service, end-to-end generative AI platform to meet these modern automation goals. By removing complexity and creating a unique workflow discovery, Orby’s generative AI platform seamlessly builds automations for virtually any business workflow.
“Orby's approach and large action model technology overcomes key challenges of traditional process automation, simplifying workflow definition for business users,” said Dan Twing, President and Principal Analyst for Intelligent Automation at Enterprise Management Associates. “With neuro symbolic programming, their platform captures standard process flows and ensures robust exception handling to provide a resilient automation solution that now makes AI-driven automation accessible and highly efficient for the enterprise.”
No More Rules
Unlike legacy automation solutions, Orby’s patented technology combines a multimodal large action model (LAM) foundation with an AI agent that leverages state-of-the-art neurosymbolic programming — utilizing symbolic reasoning and neural network-based analysis — to quickly and accurately generate actionable workflow automations that continually learn, adapt and improve. Workers are now empowered to automate what they want, when they want without relying on technical help.
With this unique combination of technologies, Orby’s platform stands alone as the only to continuously observe, learn, automate, and adapt to repetitive workflows for a wide range of enterprise processes that legacy rules-based systems simply cannot support.
Orby radically reduces the time to automation from months to minutes while enabling automation for tasks that require decision-making and domain knowledge that are simply not possible today with traditional approaches.
Enter Generative Process Automation
Generative Process Automation (GPA) represents a new class of business process automation, and the next technological advancement redefining workflow automation within the enterprise.
Also referred to as “agentic process automation (or APA)” this unique approach effectively combines the high-level cognitive abilities of AI with the benefits of automation, enabling systems to perform tasks that involve intricate planning, reasoning, and adaptation.
In this context an AI agent receives a set of instructions and then autonomously generates a workflow that incorporates other specialized agents to carry out various sub-tasks, such as data analysis or customer interaction. This not only offloads repetitive cognitive labor from humans but also enhances the capability of processes to handle complex, variable scenarios autonomously.
Unlike conventional approaches, GPA is based on next-generation large action models (LAMs) and AI agents to automatically learn, reason and act on repetitive enterprise workflow processes in real time. This allows for the automatic discovery, understanding and learning of general patterns and relationships across unstructured datasets to generate complete automation at scale for myriad enterprise workflows.
About ORBY AI
Headquartered in Mountain View, California, Orby AI is fundamentally transforming the way enterprise teams perform, delivering the only enterprise automation platform that leverages purpose-built generative AI to deliver unprecedented automations of any complexity — at scale — without the costly and cumbersome processes required by legacy systems. Founded by AI experts and engineers formerly at Google and UiPath, Orby AI has raised $35 million in financing from premier investment firms including New Enterprise Associates (NEA), Pear Venture Capital, WndrCo and Wing VC.
Media Contacts
David Callisch
david@orby.ai
+1 (408)-504-5487
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/1aeaee8f-1fde-4250-b5eb-c02bc5b3ef65
