Press Release: Interloom raises $3 million to build the next generation AI-powered process automation software

Munich 14 February 2024: Interloom Technologies, building an AI-powered automation solution for enterprises, has emerged from stealth, announcing a $3 million Seed round led by Air Street Capital.

The last few years have seen an explosion in AI capabilities, with large language models now able to reason well enough to pass some of the world’s most advanced legal and medical exams. Despite this progress, most companies still rely on outdated methods, programming rigid, inflexible rules in an attempt to automate their workflows. This traditional approach frequently fails to capture the nuanced, variable nature of most business tasks. Human effort is wasted in the form of time-consuming escalations and many simple processes simply aren’t automated at all.

Interloom is building a new generation of adaptive automation software for enterprises, which abandons hard-coded workflows altogether.

Their solution pulls all relevant data from various sources and software tools into a single context layer. Combining AI-powered task mining with a proprietary knowledge graph, their system can infer the steps of a process from a vast data pool of past behavior, conversations and task notes. This approach allows Interloom to accurately adapt process decisions to the situation at hand. As such, the software learns from past work and existing precedent within businesses, similar to how team members learn from one another when they are on-boarded to a new company or process.

Interloom is designed to be both cloud and LLM-model agnostic, giving their customers the flexibility to choose whichever model is best suited for specific use cases. The solution is designed to augment and automate processes with a historically high level of manual work, reducing lengthy lead times and unnecessary costs.  Example use cases include automating procurement and risk assessments, customer onboarding, mortgage and claim processing, and managing import/export in logistics.

Fabian Jakobi, Co-Founder and CEO of Interloom said: “We founded Interloom because we believe enterprise automation will drastically change with the emergence of AI. With the capabilities of current AI models, there’s no reason they shouldn't be able to handle significant amounts of sequential and often repetitive knowledge work and process patterns. Instead of piling more layers onto legacy technology, Interloom is building the platform for the age of AI-driven automation, so that humans and AI agents can work together harmoniously to their full potential.”

Interloom was founded by the team that created Boxplot, one of the pioneers of AI-augmented knowledge graphs for the enterprise.

In just under  two years, Boxplot was bootstrapped, served Fortune 500 customers and was ultimately acquired by Hyperscience, a global leader in AI document processing, as part of the company’s $100 million Series E round.

Nathan Benaich, Founding Partner at Air Street Capital said: “Every sector of the economy is eventually going to be rebuilt AI-first. However, in my work as an investor, I’ve seen countless technically brilliant ideas fail when companies try to apply them as an add-on to legacy technology and ways of working. From their experience at Boxplot and Hyperscience, the Interloom team have a uniquely intimate understanding of automating complex workflows. This makes them best-placed to build the process infrastructure that will underpin AI-enabled productivity gains for businesses.

The proceeds of this round will be used to build out Interloom’s engineering team, as they prepare to launch their first enterprise solution.