AI company Gradient Labs secures 11 million euros in a week using their pitch deck for investment
London-based AI Startup Gradient Labs Secures $13 Million in Series A Funding
Gradient Labs, a London-based AI startup specializing in developing AI-powered platforms for heavily regulated sectors like finance and insurance, has secured $13 million (€11 million) in a Series A funding round.
The funding round, led by Silicon Valley investor Redpoint Ventures, also saw participation from LocalGlobe, Puzzle Ventures, Liquid 2 Ventures, and Exceptional Capital. The round was completed in just one week.
Prior to this Series A round, Gradient Labs had raised $3.6 million (€3.1 million) in a previous seed round. This brings the total amount of funds raised by the startup to around $17 million (€14.7 million).
Founded in 2023 by Dimitri Masin, Neal Lathia, and Danai Antoniou, all of whom previously worked at Monzo, a British startup bank, Gradient Labs plans to use the fresh capital to expand its teams in technology, marketing, sales, onboarding, and customer success.
The company aims to strengthen its leading position in the AI-driven customer service solutions market. Specifically, the funding will help Gradient Labs scale its AI agents that handle customer service queries in regulated industries like fintech. The startup aims to leverage this capital to solidify its position by expanding its technology capabilities and market reach, particularly targeting enterprise clients in the US.
The flagship product of Gradient Labs is "Otto", an AI agent designed to learn company-specific processes and products and handle complex customer inquiries automatically. The startup aims to further improve Otto's capabilities with the new resources, with a focus on automating more complex customer service processes while maintaining high-quality service standards.
Gradient Labs plans to use the funding primarily to support expansion into the US market, grow its engineering, technology, marketing, sales, onboarding, and customer success teams, and increase investment in research and development to enhance Otto's AI-driven customer service solutions. The company is focused on autonomous AI agents that resolve up to 80% of customer queries, achieving high user satisfaction scores up to 98%.
In summary, the $13 million will enable Gradient Labs to deepen its product development, broaden its market presence (especially in the US), and expand team capacity to maintain strong growth and improve AI-driven customer service operations for fintech and other regulated sectors. The startup plans to use the funds to strengthen its research and development activities to solidify its leading position in AI-driven customer service solutions.
What will the $13 million funding be used for in the business expansion of Gradient Labs? The funds will primarily support expansion into the US market, grow engineering, technology, marketing, sales, onboarding, and customer success teams, and increase investment in research and development to enhance Otto's AI-driven customer service solutions, aiming to deepen product development, broaden market presence, and improve AI-driven customer service operations in finance and other regulated sectors.
To strengthen its leading position in the AI-driven customer service solutions market and expand its technology capabilities, Gradient Labs will invest in technology with a focus on automating more complex customer service processes while maintaining high-quality service standards in fintech and other regulated industries through its AI agent, Otto.
