London-based AI startup Re:infer has raised £2.5 million to develop its cognitive automation product suite, including its intelligent business process automation platform.
The company explained that employees often get bogged down by communication, ensuring colleagues, clients and customers are always notified when they need to be. But this is taking their time away from other tasks, so Re:infer developed the technology to automate many of these processes, saving time and making operations more efficient.
“We are at the dawn of enterprise automation and re:infer is leading the way for customers who want to realise its benefits,” said Ed Challis, co-founder and CEO of Re:infer.
“Cognitive automation gives enterprise service businesses the scaling economics of digital-first players like Amazon and Google. Re:infer gives our clients’ infrastructure a new perceptual capability to listen and understand all of their communications in real time and at scale.”
Re:infer already has an impressive roster of businesses on its books, including UK e-commerce business Farfetch and a number of financial organisations around the world.
“Clients can detect and service customer needs they’d otherwise miss – accounting for huge increases in customer satisfaction,” Challis added. “By automating communications data, we drastically improve fulfilment from hours to seconds and massively increase throughput and efficiency – in some settings by over a thousand times.”
The company will also boost its sales and marketing teams to find new routes to market, expanding its focus into new sectors, while using the opportunities to develop its products.
Re:infer’s funding round was led by Touchstone Innovations, with contributions from Crane Ventures, Seedcamp and Dr. Jason Kingdon.
“Re:infer has impressive technology, product strategy and an approach to solving a big problem that every company faces,” Mario Branciforti, Principal at Touchstone Innovations said. “Re:infer are emerging leaders in a new field of corporate AI and are looking to continue UK’s global success in pioneering AI for business.”