"Laiye Technology" completed the C++ round of financing of 70 million US dollars, globalization + integrated two-wheel drive

Recently, the intelligent automation company "Laiye Technology" announced the completion of the C++ round of financing of 70 million US dollars, and the cumulative amount of C round financing exceeded 160 million US dollars. This round of financing was led by Hopu Magnolia Growth Fund, co-led by Yoshan Capital and VMS Group Dingpei Group, and Zhou Jitongli, a subsidiary of Far East Horizon, participated in the investment, and Lightspeed China and Lightspeed America continued to join the investment.

The amount of this round of financing will be mainly used to comprehensively expand the global market, in-depth research and development of the world's leading "integrated" intelligent automation platform, strengthen the construction of the global developer ecosystem and partner ecosystem, and accelerate to become a global leader in the field of intelligent automation.

Laiye Technology Co., Ltd. was founded in 2015. It was the first to provide C-side intelligent assistant products and services in a self-operated model, and launched a companion robot product called "Xiaolai". Lai" dialogue robot platform provides a complete set of solutions for industrial intelligent robots, uses AI technology to improve service efficiency and marketing transformation, and is applied in operators, retail, business travel, education, finance and other industries; in June 2019, Laiye Technology announced the completion of the RPA startup Orson Technology merged; the new "Laiye Technology" also announced the completion of the B+ round of financing of 35 million US dollars and entered the RPA+AI market. In February 2020, Laiye Technology completed a C-round financing of $42 million, and in April 2021, Laiye Technology completed a C+ round of $50 million in financing, maintaining the speed of one round of financing a year.

Compared with the last round of financing, Laiye Technology has two obvious changes: globalization and integration.

First analyze globalization.

In the past few years, Laiye Technology has served more than 200 Fortune 500 companies, more than 200 government departments and thousands of small and medium-sized enterprises. It covers corporate customers in multiple industries such as electric power, banking, insurance, communications, and retail, as well as public utilities including digital government, public medical care, and vocational education in colleges and universities. Clients include: State Grid, China Southern Power Grid, PetroChina, China National Nuclear Corporation, Bank of China, China Construction Bank, China Mobile, China Telecom, China Unicom, China Biotechnology, Shougang Co., Ltd., Zijin Mining, Longfor Real Estate, Yili Group, Johnson & Johnson Medical, Roche Pharmaceuticals, etc.

Laiye Technology believes that because its products and models have been verified in China, it has the opportunity to go abroad and serve global enterprises.

First, China has strong AI capabilities and a group of outstanding AI engineers who are capable of developing better products to suit more business scenarios; second, Chinese companies have complex scenarios, and in these complex scenarios , and more innovative solutions have been born. Wang Guanchun, chairman and CEO of Laiye Technology, for example, for example, China Ping An’s business process intelligence automation may be the best among insurance companies in the world, so these solutions are in The basis for global replication; third, the unit price of customers in developed regions such as Europe and the United States is higher than that in China.

Based on this motivation, Laiye's internationalization process started from developing regions such as Southeast Asia and Latin America, and gradually entered mature markets such as Europe. However, entering mature markets such as Europe with higher customer unit prices will naturally face all-round competition with UiPath.

Laiye Technology believes that it has also taken over UiPath in China. Despite the background factors of domestic substitution, Laiye Technology's advantages in product technology, solutions and services make more Chinese customers willing to choose Laiye Technology; In overseas markets, Laiye Technology believes that the integrated intelligent automation platform it provides, including RPA, conversational AI, IDP and other technologies, is more in line with future trends and the needs of major customers, not inferior to UiPath.

When domestic software manufacturers go overseas, the inevitable "lazy" behavior is to serve the overseas business of Chinese companies and use this packaging as their own overseas business. Grasp the expansion and build a localized team to complete the service. At present, Laiye Technology has established an overseas team of more than 100 people, which are distributed in 15 countries in Southeast Asia, Europe and America. It has also acquired Mindsay, a French conversational AI startup, and established a new European R&D center in Paris.

At the same time, Laiye Technology will continue to increase its investment in the "civilian developer and partner ecosystem", and replicate the successful experience of China's 600+ partner network and 600,000+ developer community to all parts of the world.

Wang Guanchun said: "We have made great strides in the international market in the past year, and have determined to take the European market as a mature market base to make key breakthroughs in large enterprises. Laiye Technology has the confidence and responsibility to promote the entire Chinese software industry. and enterprise service industry to the world. It is estimated that in 2025, more than half of Laiye Technology’s revenue will come from overseas markets.”

Looking at integration, this is also the confidence that Laiye Technology believes that it has advantages on a global scale.

In the past year, Laiye Technology has focused on major customers and vertical industries, and its customer-centric strategic achievements have gradually taken shape. It has deeply served a number of high-quality customers. In the collection of customer needs, Laiye Technology has deeply felt , what major customers need is not only applications or tools that serve specific scenarios or specific departments, but an integrated intelligent automation platform that can integrate and manage various automated and intelligent technologies and products.

Wang Guanchun believes that the premise of "RPA+AI" is to use "+" to connect two single concepts, but at present the biggest opportunity on the market is to truly organically integrate automation and artificial intelligence into a new category of intelligent automation. RPA, conversational AI, intelligent document processing, process mining and other capabilities are combined to form a complete end-to-end solution, which can truly solve the overall problems of large enterprises. The latest progress and technical updates of Laiye Technology's intelligent automation platform products will be released in detail at the LAIYE LEAD product launch conference on April 26.

Despite the epidemic, Laiye Technology has achieved an annualized growth rate of 120% in the past three years. Under the expansion strategy of intelligent automation to serve global customers, Laiye Technology believes that it will continue to maintain an annual triple-digit growth rate in the next three years.