Reworkd AI, a San Francisco, CA-based startup that leverages AI agents to automate workflows, secured $1.25 million in pre-seed financing.
The investment was from Panache Ventures in Canada and Y Combinator (YC) based in California. Reworkd AI is currently participating in YC's Summer 2023 cohort and is focused on developing an artificial intelligence (AI) agent platform.
The startup plans to use the funding to fuel the public launch of AgentGPT and introduce Reworkd for Business, an AI agent offering designed to help automate repetitive tasks for businesses.
According to Shrestha, Reworkd's AI agents incorporate three key components: a powerful large language model (LLM), access to external tools like Google Search or Microsoft Word, and a "self-recursive agent loop" that enables them to think and reason about tasks, allowing them to handle more complex duties beyond typical chatbots.
“With the automation tools of the past, you could automate things on the edge of your business,” said Asim Shrestha, co-founder and CEO of Reworkd. “What we’re trying to do is leverage AI agents to help [companies] automate the core of their business.”
Reworkd AI plans to build a presence in Canada and hire north of the border in the future. “We absolutely love Canada,” he added. “We want to be the next great Canadian company.”
Company: Reworkd AI, Inc.
Round: Pre-Seed Round
Funding Month: July 2023
Lead Investors: Panache Ventures and Y Combinator
Company Website: https://reworkd.ai/
Software Category: AI Agent Platform
About the Company: Founded by Asim Shrestha, Adam Watkins, and Srijan Subedi, Reworkd AI connects businesses to AI Agent automation. Reworkd AI allows companies to automate core business workflows with the help of AI Agents, all while integrating seamlessly with their existing tech stack. With an easy-to-use, no-code platform, Reworkd AI allows companies to eliminate tedious, repetitive tasks and accelerate their operations. The company believes AI's power should be available to all and driven by the community.