MOUNTAIN VIEW, Calif., June 27, 2024 (GLOBE NEWSWIRE) — Orby AI (Orby), a technology pioneer in generative AI solutions for the enterprise, today announced the closing of its Series A funding round, raising $30 million from top-tier investors.
The Series A funding round was co-led by New Enterprise Associates (NEA), Wing VC and WndrCo, with additional participation from Pear VC. The new investment will be used to accelerate the development and commercialization of the industry’s first generative AI process automation platform built on a sophisticated Large Action Model (LAM). The Series A funding follows a seed funding round co-led by NEA and Pear VC.
“At WndrCo, we firmly believe that AI agents will fundamentally change the future of work,” said Jeffrey Katzenberg, founding partner of WndrCo. “Orby’s platform automates mundane tasks so companies can focus on their most strategic and impactful work. We are thrilled to partner with the Orby team to bring these capabilities to large enterprises.”
Redefining the possible
In most businesses today, there are critical activities such as data entry, document processing, and validation of complex forms, invoices, expenses, and contracts that can be fully automated.
However, many organizations do not have a clear technical understanding of what is feasible, forcing them to waste time and money figuring out which workflows are best to automate first. Unfortunately, traditional automation solutions lack the necessary AI sophistication and remain too expensive and technically demanding to automate more complex, repetitive work beyond simple rule-based automation.
“We see a huge market opportunity in applying generative AI technology to tackle complex business processes that can negatively impact productivity,” said Bruce Beck, Enterprise Systems CIO at JLL Technologies. “Orby’s unique AI approach is poised to revolutionize the business structure, untangle the knots of complex workflows and usher in a future of unprecedented efficiency.”
“Yesterday’s process automation solutions were never designed to address the dynamic and complex nature of work in the enterprise,” said Bella Liu, co-founder and CEO of Orby AI. “At Orby, we’re pushing the boundaries of what AI can do for the enterprise with an entirely new platform that observes and learns from every task performed, analyzes it in context, and creates automated workflows that can be implemented immediately,” Liu concluded.
Orby AI has developed the first self-service generative AI platform that meets these modern automation goals. By removing complexity and creating unique workflow recognition, Orby’s generative AI platform seamlessly creates automations for virtually any business workflow.
“Orby’s approach and Large Action Model technology overcome key challenges of traditional process automation and simplify workflow definition for business users,” said Dan Twing, President and Principal Analyst of Intelligent Automation at Enterprise Management Associates. “Using neurosymbolic programming, their platform captures standard process flows and ensures robust exception handling to deliver a robust automation solution that makes AI-driven automation now accessible and highly efficient for the enterprise.”
No more rules
Unlike traditional automation solutions, Orby’s patented technology combines a multimodal Large Action Model (LAM) foundation with an AI agent that leverages cutting-edge neurosymbolic programming – using symbolic reasoning and neural network-based analysis – to quickly and accurately generate actionable workflow automations that continuously learn, adapt, and improve. Employees can now automate what they want, when they want, without relying on technical assistance.
With this unique combination of technologies, Orby’s platform is the only one that continuously observes, learns, automates and adapts to recurring workflows across a wide range of enterprise operations that traditional rule-based systems simply cannot support.
Orby radically reduces time to automation from months to minutes, while enabling the automation of tasks that require decision-making and expertise that are simply not possible with traditional approaches today.
Enter generative process automation
Generative Process Automation (GPA) represents a new class of business process automation and is the next technological advancement that is redefining workflow automation in the enterprise.
This unique approach, also known as Agentic Process Automation (or APA), effectively combines the sophisticated cognitive capabilities of AI with the benefits of automation, enabling systems to perform tasks that require complex planning, reasoning, and adaptation.
In this context, an AI agent receives a set of instructions and then autonomously generates a workflow that involves other specialized agents to perform various subtasks, such as data analysis or customer interaction. This not only relieves humans of repetitive cognitive work, but also improves the ability of processes to handle complex, variable scenarios autonomously.
Unlike traditional approaches, GPA relies on Large Action Models (LAMs) and next-generation AI agents to automatically learn, analyze, and process repetitive enterprise workflow processes in real time. This enables automatic discovery, understanding, and learning of common patterns and relationships in unstructured data sets to achieve complete automation at scale for countless enterprise workflows.
About ORBY AI
Headquartered in Mountain View, California, Orby AI is fundamentally changing the way enterprise teams work, offering the only enterprise automation platform that uses purpose-built generative AI to deliver unprecedented automation of any complexity—at scale—without the costly and cumbersome processes required by legacy systems. Founded by AI experts and engineers formerly of Google and UiPath, Orby AI has raised $35 million in funding from leading investment firms including New Enterprise Associates (NEA), Pear Venture Capital, WndrCo, and Wing VC.
Media contacts
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+1 (408)-504-5487
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/1aeaee8f-1fde-4250-b5eb-c02bc5b3ef65
