Laiye, a Chinese intelligent automation company, has raised $ 50 million in a Series C + financing.
The round was co-led by the Ping An Global Voyager Fund and the Shanghai Artificial Intelligence Industry Equity Investment Fund with participation from Lightspeed China Partners, Lightspeed Venture Partners, Sequoia Capital China and Wu Capital.
The company intends to use the funds to expand globally and develop products, to enhance its RPA offering with native AI capability, compatibility with more operating systems like Linux and Android. , deploy on all major cloud platforms and recruit top talent.
Over the past year, Laiye has taken several milestones with its innovative product offerings and rapidly developing ecosystem. Laiye has accelerated its international expansion despite the pandemic and now serves a growing customer base that includes many Fortune 500 companies, government agencies, and small and medium enterprises (SMEs). Laiye’s annual robotic process automation (RPA) software subscription revenue has skyrocketed with an impressive 900% year-over-year growth. Its conversational artificial intelligence (AI) product, Laiye Chatbot, has also received positive reviews from the user community. Laiye achieved positive cash flow for its corporate activity and profitability for the chatbot activity in the fourth quarter of 2020.
Led by Li Wei, Co-CEO and Chairman, and Wang Guanchun, Chairman and CEO, Laiye has expertise in RPA + AI to enable businesses and individuals to realize their full potential by optimizing the collaborative human-machine alliance with one of the low-code digital “workforce solutions”.
Core technologies include robotic process automation (RPA), process exploration, natural language processing (NLP), conversational intelligence, text recognition, and image recognition.
Laiye’s global footprint spans Asia, the United States and Europe, with international partners such as Microsoft, Deloitte, KPMG and Digital China. The company currently has a community of over 400,000 developers and over 500 partners, primarily in China. Laiye is currently expanding its community outside of China through partners such as RAAS PAL, a robotics and AI solutions provider in Thailand.