Relevance AI Advances Workplace AI Agents with $24M Series B Funding

As artificial intelligence increasingly permeates the workplace, AI agents are emerging as vital collaborators alongside human employees. According to a Boston Consulting Group report, the AI agent market is projected to grow at an impressive 45% compound annual growth rate over the next five years, signaling a transformative shift in how businesses operate.

Unlike traditional automation tools, AI agents can be onboarded to learn specific roles, access company data, and adapt continuously to improve their performance. This dynamic capability allows AI agents to integrate deeply into business workflows, enhancing productivity and operational agility.

Relevance AI, a startup based in San Francisco and Sydney, is pioneering this space with its AI agent “operating system” designed to enable businesses to build and manage teams of AI agents. Recently, the company raised $24 million in Series B funding led by Bessemer Venture Partners, bringing its total funding to $37 million.

With rapid growth reflected in 40,000 AI agents registered on its platform, Relevance AI serves notable clients including Qualified, Activision, and Safety Culture. The company competes with other AI agent innovators such as Retell, Qeen.ai, SmythOS, Gooey.AI, Cykel AI, and tech giants like Microsoft.

Co-CEO and co-founder Daniel Vassilev highlights that Relevance AI’s platform is tool- and model-agnostic, enabling customers to leverage their entire technology stack rather than being confined to a single vendor ecosystem. This flexibility supports specialized training of AI agents to fit niche organizational workflows.

The Series B funding will accelerate product enhancements and expand customer support primarily in Australia and the U.S. Relevance AI is also growing its team, increasing headcount from 19 employees in 2023 to 80 across its San Francisco and Sydney offices, with Vassilev relocating to San Francisco to lead go-to-market efforts.

Alongside its funding announcement, Relevance AI unveiled two new platform features: “Workforce,” a no-code multi-agent system that empowers non-technical users and engineers to build specialized AI teams capable of collaborating to complete complex workflows; and “Invent,” a tool that enables users to create AI agents through simple text prompts.

The evolution of AI agents represents a significant opportunity for businesses to enhance efficiency, reduce operational costs, and innovate workflows. Platforms like Relevance AI are at the forefront, providing adaptable, scalable AI solutions that integrate seamlessly with existing technologies and empower organizations to harness AI’s full potential.