DeepOpinion, an Innusbruk, Australia-based company specializing in building artificial intelligence agents to automate business tasks, said today it has raised €11 million, or $12.2 million, in early-stage funding.
Co-led by led by Red River West and Alpha Intelligence Capital, the Series A round was also joined by the company’s existing investors Lunar Ventures and Stride VC.
DeepOpinion uses its technology to automate back-office business tasks with generative AI large language models and create customizable solutions to improve their knowledge work performance. Its models validate unstructured data from numerous industries such as financial services, insurance, telecommunications and manufacturing to make short work of complex tasks.
In a real-world example, the company’s platform has been put to use by insurance companies in the wake of recent flooding in Australia caused by torrential rains in 2023 and 2024. Heavy rains hit Sydney, Australia in June, causing widespread flash flooding, leading to evacuations and property damage.
Not only did this lead to a struggle for disaster response, but it also created a challenge for insurance outfits with a 10- to 50-fold increase in insurance claims. Traditional processing can take up to five weeks per claim, which would be crippling under these circumstances. However, DeepOpinion said that with its platform and AI agents helping handle the equally torrential flood of emails, documents, messages, forms and more, processing time for claims was reduced to 90 seconds.
The company said it’s using generative AI models to act as intelligent experts within a self-optimizing system that works alongside human employees that learn based on human feedback. Enterprise businesses can use this technology to create end-to-end AI applications to automate processes.
“We’re not just improving productivity; we’re reinventing work itself,” said co-founder Stefan Engl. “We’re addressing the evolving workforce dynamics by automating tasks unappealing to younger generations and filling gaps left by retiring workers. Simultaneously, we’re meeting the ‘instant expectation economy’ demands through rapid, automated operations. This empowers businesses to expand seamlessly across sectors, driving growth and efficiency.”
DeepOpinion said its platform is built to fit into most back-office environments by adapting to any document type by offering zero-shot document understanding that eliminates the need for templates or training data. It also connects to more than 200 enterprise software tools. For developers, the company provides a robust application programming interface that can be extended to fit into application processes.
“The big challenge for us is dealing with highly unstructured data and very different invoices, and ensuring that they are all processed accurately,” said Karsten Vogel, an innovation leader at German insurance brokerage firm Uelzener Insurance and a user of DeepOpinion. “Before working with DeepOpinion, the technology wasn’t able to deliver the results we needed, and manual intervention was still required.”
Vogel added that the insurance company is pleased with the results of implementing DeepOpinion’s platform. “The speed at which we can bring projects to market — within a quarter — is extraordinary,” Vogel said. “This is not something we could have achieved with other providers.”