DeepOpinion, an Austrian startup specialising in enterprise agentic 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.
Recent floods in Austria have exposed a critical challenge in disaster response: insurers face a 10 to 50-fold surge in claims, overwhelming traditional processing methods. The current approach, relying on human administrators, takes about five weeks per claim, causing significant delays and distress for disaster victims.
The core issue lies in handling vast amounts of unstructured data from various emails, documents, messages, forms, and more - a persistent challenge in traditional automation solutions. With 93 million people globally affected by disasters in 2023 alone, efficient processing is crucial.
DeepOpinion's platform addresses this challenge by leveraging a complete system to create agentic AI applications without code. The platform automates claims in just 90 seconds, representing a significant shift in handling unstructured data at scale.
The platform's key innovations include AI agents acting as intelligent experts between a company’s various software tools and a self-optimising system that learns and improves based on human feedback to realise touchless processing of data from diverse sources. These technologies enable the creation of custom applications that automate the entire claims process.
DeepOpinion's proprietary technology leverages context-understanding capabilities and LLMs to process any data you’d expect to encounter in a back office.
It adapts to any document type and connects to over 200 enterprise software tools. The solution streamline operations in weeks instead of several quarters.
Stefan Engl, DeepOpinion's co-founder, shared:
"We're not just improving productivity; we're reinventing work itself. Our AI delivers full autonomy for knowledge-intensive workflows, automating entire processes end-to-end."
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."
This funding round, co-led by Red River West and AIpha Intelligence Capital, with participation from existing backers Lunar Ventures and Stride VC, will fuel DeepOpinion's global expansion and further development of its core AI platform.
"DeepOpinion stands out in the crowded AI landscape with its ability to fully automate complex knowledge work at scale," said Antoine Blondeau, Managing Partner at Alpha Intelligence Capital.
Oliver Huez, Partner at Red River West added:
"Traditional automation tools, like robotic process automation (RPA) systems, were never structured to fully automate end-to-end knowledge work.
Unstructured data, such as documents, emails, and tickets, constitute the bulk of information flow in the business world. Without a solution to handle these, the level of automation is limited.
We talked to many players, and none have come close to DeepOpinion in terms of performance.
DeepOpinion’s technology and ability to handle such data provide its clients a higher return on investment, an order of magnitude higher, positioning it as a leader in the next wave of intelligent automation systems for business operations.”
DeepOpinion clients across the insurance, financial services, and telecommunications sectors include Siemens, e&, BitPanda, HannoverRE, and insurers such as Uelzener and Allianz.
Karsten Vogel, an Innovation Leader at Uelzener Insurance, and a user of DeepOpinion said:
"Before working with DeepOpinion, the technology wasn’t able to deliver the results we needed, and manual intervention was still required.
"Currently, we are extremely satisfied with our results DeepOpinion stands out because of its technological solution and progress. The speed at which we can bring projects to market—within a quarter—is extraordinary. This is not something we could have achieved with other providers."
Lead image: DeepOpinion. Photo: uncredited.
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