Intelligent automation firm Laiye has completed its $160-million Series C funding round with the latest tranche at $70 million led by HOPU Magnolia.
Other new investors include VMS Group and Youshan Capital. Existing investors such as Lightspeed China Partners and United States-based Lightspeed Venture Partners also participating in this round.
Based in Beijing, Laiye focuses on enterprise customers in the insurance, communications, electric power, finance, retail, and healthcare industries to build end-to-end intelligent automation solutions.
“An AI-enabled digital workforce developed from Laiye’s integrated intelligent automation platform will help our customers accelerate their digital transformation journey,” said Guanchun Wang, chairman and CEO of Laiye. “This new round of funding will continue to fuel our relentless product innovation and triple-digit YoY revenue growth in the years to come.”
This funding round comes on the back of Laiye’s recent acquisition of Paris-based Mindsay, an enterprise conversation AI firm, and the establishment of a new R&D hub in Paris.
Laiye plans to deploy the new capital to accelerate expansion in Asia Pacific, the Americas, and Europe, Middle East and Africa. These regions represent Laiye’s largest growth opportunity, where legacy Robotic Process Automation systems often leave businesses struggling to transform complex processes.
Over the past 12 months, Laiye more than doubled its team outside China to more than 100 employees — about 15% of the total workforce — and grew its partner network to more than 600 organisations.
Ronen Lamdan, CEO of Laiye International, said this latest round of financing will accelerate their business growth and enable them to serve more large enterprises, government organisations, and SMEs across the world.
