TLDR: Lorikeet, an Australian AI startup specializing in customer service automation, has achieved a significant milestone by ranking eighth globally on Andreessen Horowitz’s ‘AI Apps 50’ list, surpassing fellow Australian tech giant Canva, which placed 17th. This ranking, based on actual startup spending data, highlights Lorikeet’s rapid growth and its innovative approach to enterprise AI solutions.
Sydney-based artificial intelligence startup Lorikeet is rapidly emerging as a significant player in the global AI landscape, recently outshining established Australian tech unicorn Canva in a crucial industry report. According to Andreessen Horowitz’s (a16z) new ‘AI Apps 50: Where Startups Spend on AI’ list, released last week, Lorikeet ranked eighth globally for startup AI expenditure. This places it nine spots above Canva, which secured the 17th position.
The a16z report, developed in partnership with fintech firm Mercury, offers a unique perspective on AI adoption by analyzing real banking transaction data from over 200,000 startups. Unlike traditional rankings based on web traffic or venture funding, this list provides an authentic snapshot of where companies are truly investing their AI budgets. The findings indicate a fragmentation in AI spending, with startups increasingly opting for specialized tools over a few dominant platforms.
Founded in 2023 by Steve Hind and Jamie Hall, Lorikeet leverages generative AI to automate customer interactions, training its systems on a company’s specific chat logs, tone of voice, and documentation. This “vertical AI” approach aims to deliver consistent, on-brand responses at scale, addressing complex customer support challenges. The company’s “concierges” are already in use by several Australian unicorns, including Airwallex, Linktree, and Eucalyptus, as it competes with global customer service giants like Intercom, Zendesk, Decagon, and Sierra.
Lorikeet has demonstrated remarkable growth, reporting a tenfold increase in revenue since late 2024. The company plans to double down on research and development and international expansion throughout 2025. Its rapid ascent is further underscored by recent funding rounds, including a $54 million investment in August 2025 that doubled its valuation to over $200 million, following a $9 million seed round in February 2025.
In contrast, Canva has also made a significant push into generative AI since 2023, integrating its ‘Magic Suite’ across its platform and expanding capabilities through acquisitions like MagicBrief and Leonardo.ai. However, this AI evolution has not been without challenges, as evidenced by recent redundancies, including 10 of its 12 technical writers, following the integration of AI tools into their workflows.
Also Read:
- Australian Gen Z Workers Embrace AI Despite Job Market Concerns
- Commonwealth Bank Secures Top Four Global Position in AI Maturity, Dominating Asia-Pacific
Lorikeet’s co-founder and CEO, Steve Hind, emphasized their differentiated product approach, stating, “Support is perhaps the highest impact and lowest hanging fruit opportunity for enterprise adoption of AI, and the market scale is absolutely enormous.” Tom Humphrey, Partner at Blackbird, an investor in Lorikeet, added, “What sets Lorikeet apart is our fundamental understanding that effective customer support requires more than just conversational AI. Our intelligent graph technology is unique in its ability to both solve complex customer inquiries and know what it doesn’t know to avoid giving incorrect answers or engaging on highly sensitive or regulated topics.” This ability to handle sensitive topics and acknowledge limitations positions Lorikeet as a formidable challenger in the enterprise AI space.
