Australian artificial intelligence (AI) startup, SourseAI, has successfully secured $3 million in Series A funding. The funding round was led by former Deloitte Managing Directors, John Meacock and Luc Maasdorp, through their venture capital firm, Centerstone Capital.

SourseAI has carved a niche for itself in the telecommunications sector, helping companies leverage AI to aggregate and interpret data for strategic decision-making. The company's AI-driven solutions are designed to optimise customer acquisition and retention strategies, and are currently utilised by three quarters of Australian telcos.

"Our AI technology is transforming the way telcos approach customer acquisition and retention," said Tanya Hyams-Young, CEO of SourseAI. "We're excited about the opportunities this funding will open up for us, particularly in terms of global expansion."

The funding will be instrumental in fuelling SourseAI's ambitious global expansion plans. The company aims to bring its innovative AI solutions to telcos worldwide, helping them make data-driven decisions to enhance customer experiences and drive growth.

Luc Maasdorp, CEO of Centerstone Capital, expressed his confidence in SourseAI's potential. "SourseAI is at the forefront of AI innovation in the telco sector," he said. "We believe in their vision and are excited to support their global growth ambitions."

Mark Fazio, Co-CEO at Australian Telco, Mate, one of the companies currently using SourseAI's solutions, also voiced his support. "SourseAI has been a game-changer for us," he said. "Their AI-driven insights have significantly improved our customer acquisition and retention strategies."