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Borderless AI Emerges from Stealth Mode with $27 Million Funding for HR Assistant Platform – Alex Riehl, March 21, 2024

business . 

Toronto-based Borderless AI has recently emerged from stealth mode with an impressive $27 million in seed funding for its AI-powered HR assistant, Alberni. Positioned as a pioneer in the integration of AI agents into HR processes, Borderless AI aims to revolutionize the way companies onboard, manage, and compensate international team members.

Alberni, the flagship product, is designed to streamline various HR tasks and is capable of addressing queries related to employment law, finance, and tax in an astounding 170 languages. With global expansion on the horizon, Borderless AI is poised to disrupt the HR industry.One of the key partnerships driving Borderless AI’s success is with Cohere, a Toronto-based AI company and competitor to OpenAI. Borderless AI is leveraging Cohere’s large language model (LLM) to enhance the capabilities of its platform, making it the sole entity deploying Cohere’s LLM specifically for HR purposes. This strategic collaboration underscores Borderless AI’s commitment to harnessing cutting-edge technology to deliver innovative solutions in the HR domain.

The $27 million seed funding round was led by Susquehanna and Aglaé Ventures, with participation from other undisclosed institutional investors. Notably, Aglaé Ventures, the investment arm of Bernard Arnault, the renowned French businessman behind luxury conglomerate LVMH, boasts an impressive portfolio that includes industry giants such as Airbnb, Bytedance, and Netflix. This substantial funding injection reflects investor confidence in Borderless AI’s vision and potential to transform the global HR landscape.

The strategic acquisition of US-based HR tech firm Pingboard by Workleap underscores a significant expansion move within the global HR technology sector. With the trend of globalization continuing to shape business operations, companies increasingly recognize the importance of seamless technological solutions like Borderless AI and its flagship product, Alberni, to facilitate successful scaling on a global level. Aglaé Ventures partner Miyuki Matsumoto expressed confidence in the mainstream adoption of AI agents for HR, highlighting the pivotal role that Borderless AI is poised to play in shaping the future of HR technology.

Founded in 2022 by Willson Cross and former Lyft board chairman Sean Aggarwal, Borderless AI brings together a wealth of experience and expertise in technology and finance. Cross, who previously co-founded and led GoFetch, a successful pet services platform, has a proven track record of entrepreneurial success. Additionally, Aggarwal’s extensive background as Paypal’s former vice president of finance and Trulia’s CFO positions him as a valuable asset in Borderless AI’s leadership team.

Under Aggarwal’s guidance as chairman, Borderless AI aims to leverage its innovative AI-powered solutions to cater to a diverse range of clients, including prominent names such as dating app Raya, global architecture firm MG2, and FinTech startup Affiniti. With a strong leadership team and a growing roster of clients, Borderless AI is well-positioned to drive meaningful transformation in the HR technology landscape and support companies in navigating the challenges of global expansion.

The acquisition of Pingboard by Workleap reflects the strategic consolidation of resources and expertise to enhance Workleap’s position in the competitive HR technology market. This strategic move aligns with Workleap’s vision to provide comprehensive HR solutions that address the evolving needs of global businesses. With Pingboard’s expertise in employee engagement and organizational management complementing Workleap’s existing capabilities, the acquisition sets the stage for enhanced product offerings and expanded market reach. As companies continue to prioritize employee experience and organizational efficiency, Workleap is poised to play a pivotal role in shaping the future of HR technology.

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