Amelia Announces $175 Million Investment from BuildGroup and Monroe Capital

Trusted AI leader helps customers navigate chatbot frenzy.

NEW YORK, March 7, 2023 /PRNewswire/ -- Amelia, the enterprise leader in Trusted AI, today announced a $175 Million Strategic Investment from BuildGroup and Monroe Capital that will provide financial capital and business leadership. Goldman Sachs & Co LLC and TD Cowen advised the Company on its raise.

This investment comes at a critical time as many companies are considering how to navigate the OpenAI-enabled chatbot market frenzy without getting cut by bleeding-edge technology. Amelia offers a unique industry viewpoint on this hype cycle, moving beyond the limitations of ChatGPT by offering an enterprise AI option that delivers outcomes customers can trust. Amelia's market-leading technology is recognized by analysts as a safe way for enterprises to use cutting-edge AI to deliver better outcomes to customers.

Lanham Napier, BuildGroup's CEO, will join Amelia's Board as Chairman and will step into an active role on the leadership team. Amelia Founder Chetan Dube will focus his leadership on the Company's research and development, and technical elements of delivery.

"Twenty years ago I was blessed to be CEO of Rackspace and help build the Company from $1.5 million to $1.5 billion in sales at the dawn of the internet age. We now find ourselves at the beginning of the AI age, and Amelia is the right company to lead this new market by helping businesses utilize AI to deliver greater outcomes to their customers. I'm thrilled to jump into the fray with Amelians, and I'm excited for what we have the opportunity to build together," said Lanham Napier.

Chetan Dube commented, "For Amelia's customers, employees and partners — and for me personally — this partnership is a long time coming. Amelia has been at the forefront of leveraging AI for the betterment of people, the global workforce and ultimately our planet. This investment by our new partners will bring Amelia into a new era of growth driven by our Trusted AI solutions. We are grateful to BuildGroup and Monroe Capital for joining us on this journey."

About Amelia

Amelia is the enterprise leader in Trusted AI. As an AI pioneer, Amelia has a proven track record of innovation in automation and Conversational AI. Amelia's platform captures the rapid innovation of AI ecosystems and transforms these innovations into enterprise-grade products.  Enterprises use Amelia to drive revenue in conversational experiences and enable productivity through operations automation. Amelia is consistently recognized by analyst firms as a market leader. Enterprises trust Amelia's products and solutions to serve customers globally. Learn more at amelia.ai.

Media Contact:
media@amelia.ai

About BuildGroup

Led by former Rackspace CEO Lanham Napier, BuildGroup invests in high-growth technology companies. Backed by entrepreneurial families, BuildGroup applies a long-term investment approach, unique operating skills, and partnerships with its network of successful business owners. BuildGroup's portfolio includes Anaconda, Andela, Casetext, Cybrary, Fiix Software, Flowspace and Lendio. For more information on BuildGroup, visit www.buildgroup.com.

About Monroe Capital

Monroe Capital LLC ("Monroe") is a premier boutique asset management firm specializing in private credit markets across various strategies, including direct lending, asset-based lending, specialty finance, opportunistic and structured credit, and equity. Since 2004, the firm has provided capital solutions to clients in the U.S. and Canada. Monroe prides itself on being a value-added, user-friendly partner to business owners, management, and both private equity and independent sponsors. Monroe's platform offers a wide variety of investment products for both institutional and high net worth investors with a focus on generating high quality "alpha" returns irrespective of business or economic cycles. For more information, visit https://www.monroecap.com/.

Media Contact:
Mark Solovy
msolovy@monroecap.com