Daily News

View All News

EOR Borderless AI reports $27 million funding round

March 22, 2024

Borderless AI, an employer-of-record provider, announced a $27 million funding round. The round was led by Susquehanna Financial Group and Aglaé Ventures, the venture arm of Bernard Arnault, CEO of LVMH Moët Hennessy – Louis Vuitton.

Borderless AI’s AI agent, named Alberni, can solve complex problems and automate processes in any country within 10 minutes, the company said.

“As the first company in the world to bring AI agents to HR, we are firm believers that AI agents will become commonplace for companies just like websites in the ’90s and mobile apps in the 2000s,” Borderless AI CEO Willson Cross said in a press release. “Leveraging conversational AI, our platform automates many of the complexities within the global HR stack, without hallucinations, such as payroll set-up, time-off requests or employment agreement generation.”

Borderless AI was founded by Cross and Sean Aggarwal, who also serves on the board of rideshare firm Lyft Inc.

IT AI agent Alberni is available in 170 languages. The company is based in Toronto.

“The HR industry is ripe for innovation, and Borderless AI is one of those companies that has the rare combination of industry expertise, product innovation, and a deeply committed and capable founding team,” Miyuki Matsumoto, partner at Aglaé Ventures, said in a press release. “Globalization isn’t going anywhere, and companies will rely on seamless technology like Borderless AI and Alberni to help them scale successfully on a global level. We strongly believe that AI agents for HR will become mainstream and we’re thrilled to be a part of this journey.”