Borderless AI, the Toronto-based artificial intelligence-powered human resource management platform, has secured $27 million in a VC funding round led by investment firm Susquehanna and Aglae Ventures, the venture capital company owned by Bernard Arnault.
The fundraise underscores the ongoing fervor in the AI sector, which has continued to attract significant venture capital investment despite a largely subdued economic environment. According to data from PitchBook, AI-related startups captured one-third of all venture capital dollars invested in the United States in 2023, Reuters news report said.
The demand for AI applications, particularly those capable of generating human-like responses to written prompts, has contributed to the sector’s momentum. Borderless AI, founded by Willson Cross and Sean Aggarwal, specializes in leveraging generative AI to automate tasks such as onboarding and managing payments for team members.
Willson Cross, CEO of Borderless AI, highlighted the company’s plans to utilize the funds to expand into new markets and enhance its existing AI product suite. However, the company did not disclose its valuation following the fundraise.
Borderless AI’s flagship model, Alberni, boasts the capability to create employment contracts, analyze legal agreements, and address tax queries, thereby enabling HR teams to streamline processes and reduce costs. Notably, Alberni is available in 170 languages and can solve complex problems and automate tasks within a remarkably short timeframe of 10 minutes.
Willson Cross emphasized that the objective of Borderless AI’s technology is not to replace human involvement in the HR function but rather to augment it, making processes more efficient and seamless for HR professionals.
Among Borderless AI’s notable clients are popular dating and networking app Raya, global architecture firm MG2, and fintech startup Affiniti.
