DeepOpinion, an Austrian startup specializing in enterprise agent process automation, has raised €11 million in a Series A funding round.
The company’s technology uses advanced AI agents to automate complex, knowledge-intensive tasks in business operations.
The recent floods in Austria have revealed a major challenge in disaster response: insurance companies are facing a 10-50-fold surge in claims, overwhelmed by traditional processing methods. The current approach, which relies on human administrators, is taking approximately five weeks per claim, causing significant delays and distress for victims.
The underlying problem lies in the processing of huge amounts of unstructured data from various emails, documents, messages, forms, etc. – a perennial challenge for traditional automation solutions. In 2023 alone, 93 million people worldwide are expected to be affected by disasters, making efficient processing essential.
DeepOpinion’s platform addresses this challenge by leveraging a complete system to create agent AI applications with no code, automating claims in as little as 90 seconds, revolutionizing the way unstructured data is processed at scale.
The platform’s key innovations include AI agents that act as intelligent experts between a company’s various software tools, and self-optimizing systems that learn and improve based on human feedback, enabling contactless processing of data from various sources. These technologies enable the creation of custom applications that automate the entire claims process.
DeepOpinion’s proprietary technology leverages contextual understanding and LLM to process any data that may arise in the back office.
It works with any document type and connects to over 200 enterprise software tools, so your business can get more done in weeks, not quarters.
“DeepOpinion is a game changer,” said Stefan Engl, co-founder of DeepOpinion.
“We’re not just improving productivity, we’re reinventing work. Our AI brings full autonomy to knowledge-intensive workflows, automating entire processes end-to-end.”
We address changing workforce dynamics by automating tasks that are unattractive to younger generations and filling gaps created by retiring workers, while simultaneously meeting the demands of the “instant expectation economy” through fast, automated operations.
This allows businesses to seamlessly expand across sectors, increasing growth and efficiency.”
The funding round was co-led by Red River West and AIpha Intelligence Capital, with participation from existing backers Lunar Ventures and Stride VC, and will help DeepOpinion expand globally and further develop its core AI platform.
“DeepOpinion’s ability to fully automate complex knowledge work at scale sets it apart in an AI-crowded world,” said Antoine Blondeau, managing partner at Alpha Intelligence Capital.
Oliver Hughes, partner at Red River West, added:
“Traditional automation tools, such as Robotic Process Automation (RPA) systems, were not built to fully automate end-to-end knowledge work.
Unstructured data such as documents, emails, tickets, etc. make up a large part of the information flow in the business world. Without a solution to handle them, the level of automation is limited.
We spoke to many players and none of them could match DeepOpinion in terms of performance.
DeepOpinion’s technology and ability to process such data provides clients with an exceptional return on investment, positioning the company as a leader in next-generation intelligent automation systems for business operations.”
DeepOpinion’s clients in the insurance, financial services and telecom sectors include insurance companies such as Siemens, e&, BitPanda, HannoverRE, Uelzener and Allianz.
“DeepOpinion is a game changer,” said Karsten Vogel, Innovation Leader at Uelzener Insurance and DeepOpinion user.
“Before working with DeepOpinion, technology wasn’t able to deliver the results we needed and manual intervention was still required.
“Today, we are very happy with the results. DeepOpinion stands out for its technological solutions and advancements. The speed at which they were able to bring the project to market within one quarter is exceptional. This is something we could not have achieved with other providers.”
Lead image: DeepOpinion. Photo: Uncredited.
