DeepOpinion, an Innsbruck-based company specialising in automating repetitive cognitive tasks across multiple industries, has raised €11 million in a Series A funding round. The investment was led by Red River West and Alpha Intelligence Capital, with participation from existing investors Lunar Ventures and Stride VC.
The raised capital will be allocated towards two primary objectives: global expansion and further development of its core AI platform. This strategic investment positions DeepOpinion as a leader in the emerging field of agentic automation for complex business processes.
Addressing real-world challenges
The company’s technology has shown significant potential in addressing critical challenges, such as the surge in insurance claims following natural disasters. DeepOpinion’s platform automates claims processing in just 90 seconds, representing a major advancement in handling unstructured data at scale.
Speaking specifically about technology, DeepOpinion’s proprietary technology leverages context-understanding capabilities and large language models (LLMs) to process diverse back-office data. It can adapt to any document type, offering zero-shot document understanding that eliminates the need for templates or training data and connects to over 200 enterprise software tools.
The platform’s AI agents act as intelligent intermediaries between various software tools, creating a self-optimizing system that improves based on human feedback. The company aims to disrupt the $850 billion global back-office operations market with its advanced AI stack, positioning itself at the forefront of the emerging field of agentic automation for business processes.
Behind the agentic competitive edge
Unlike competitors, DeepOpinion uses advanced AI agents to automate complex, knowledge-intensive tasks in business operations across shared services, manufacturing, and telecommunications, with claims processing, document management, and underwriting in the insurance sector. Furthermore, it simplifies customer onboarding, trade financing, and loan processing for banking.
Speaking to TFN, Stefan Engl, DeepOpinion’s co-founder, shared: “In banking, we are helping companies realize trade financing in 3 days on average instead of 4 weeks. Banking onboarding of B2B Customers happens in 3 days instead of 24.5 days. Bank loan processing also in 3 days instead of an average of 22.”
Engl continued: “We are achieving 2-4x higher straight-through processing than competitors in RFPs. Our zero-shot AI performance is significantly superior on unstructured data driving an exponential impact on this STP, in addition, our complete modular solution makes it easy to automate all of a company’s different horizontal business processes in different business areas by creating custom solutions.”
Investors’ take on DeepOpinion
“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 with 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.”
Looking ahead
The company’s ability to handle unstructured data efficiently provides its clients with a significantly higher return on investment, setting a new standard in the industry. As the company moves forward, it needs to not only deliver on its technological promises but also address these broader challenges to truly establish itself as a leader in the intelligent automation industry.
