The launch comes amid increased investment in AI tools for specific verticals and a growing market for employers of record. However, Borderless faces competition from established players like Velocity Global and Deel, and challenges in integrating new HR tech with existing systems. Despite this, the company, which is operational in 170 countries and primarily serves small- to mid-sized tech firms, is confident in its focus on building trustworthy, accurate AI models for international hiring needs.
Key takeaways:
- Borderless AI, a new startup co-founded by Lyft board member Sean Aggarwal and entrepreneur Willson Cross, has emerged from stealth with $27 million in seed funding. The company uses an AI agent, Alberni, to automate HR tasks such as onboarding and paying international workers.
- The company is partnering with AI model developer Cohere to augment its large language model with proprietary data specific to employment law around the globe. Alberni can generate employment agreements, process global new hire paperwork, and reimburse global expense requests.
- The funding round was led by Susquehanna and Aglaé Ventures, the venture arm of billionaire Bernard Arnault. The funds will be used to help Borderless grow into more geographies and invest in AI. The company is operational in 170 countries and primarily serves small- to mid-sized tech firms.
- Despite the competition from established players like Velocity Global and Deel, Borderless AI aims to sell services to much larger companies that don’t need employers of record, but want direct access to using its agent, Alberni, to automate some of their in-house HR tasks.