The race to build intelligent AI agents for enterprise use just heated up, as Relevance AI announced a fresh $24 million in Series B funding to expand its platform that helps businesses deploy specialized AI-powered teams.
As companies rush to harness automation and streamline operations, the idea of AI agents working alongside human teams is gaining serious momentum. A recent Boston Consulting Group report projects the AI agent market will grow at a blistering 45% compound annual rate over the next five years. Relevance AI is positioning itself to lead that wave by building what it calls an “AI agent operating system” for modern businesses.
Founded in Sydney and now expanding rapidly in San Francisco, Relevance AI is enabling organizations to create, customize, and scale AI agents that can take on real workflows—learning roles, accessing internal systems, and continuously improving over time. Unlike legacy automation tools, these agents adapt to change, making them more valuable as business needs evolve.
With its latest round led by Bessemer Venture Partners—and backed by returning investors King River Capital, Insight Partners, and Peak XV—Relevance has now raised a total of $37 million. Though the company didn’t share its latest valuation, its momentum is clear. Since its Series A, the startup has seen explosive growth, with over 40,000 AI agents registered on its platform. High-profile clients include companies like Qualified, Activision, and Safety Culture.
According to co-founder and co-CEO Daniel Vassilev, Relevance is competing in a crowded field that includes agent platforms like Qeen.ai, Retell, Gooey.AI, SmythOS, Cykel AI, and even enterprise giants like Microsoft. Still, Vassilev believes the company has a unique edge. “We’re completely tool- and model-agnostic,” he explained, “which means our platform can connect to the full range of a company’s tech stack—unlike others locked into a single ecosystem.”
Big names like Salesforce have already made high-profile bets on AI agents, but Relevance is pushing the category further with new tools aimed at lowering the barrier to adoption. The newly launched “Workforce” feature is a no-code, multi-agent system that helps both engineers and non-technical professionals assemble AI teams that can collaborate on complex tasks—just like a human team would. Meanwhile, the “Invent” tool lets users build new agents using simple text prompts, making AI accessible to more roles within an organization.
To support its growing footprint, Relevance plans to use the fresh capital to enhance its platform capabilities and invest in customer support, particularly across its core markets in the U.S. and Australia. Vassilev has already relocated to San Francisco to open a new office and strengthen the company’s go-to-market team. The company now employs 80 people across both cities—up from just 19 employees in 2023.
As AI agents continue to evolve from novelty to necessity, Relevance AI’s latest funding signals growing investor confidence in the sector—and a clear push to bring this future into today’s workplace.
