Bird raises $450M in debt to fund dividends and pivot to AI

Bird, the Netherlands-founded communications and software company, has secured $450 million in debt financing to facilitate a dividend distribution to its existing shareholders. The financing includes a $400 million term loan and a $50 million revolving credit facility, involving seven banks including JP Morgan Chase, Capital One, and Citi.

Founder Robert Vis stated the move is intended to reward investors and employees, including former staff, by providing liquidity. The company is currently undergoing a strategic repositioning toward AI-driven operations. This shift has resulted in a significant reduction in workforce, with headcount dropping from a peak of approximately 1,000 employees to around 120, a change Vis attributes to automation and the implementation of AI agents.

Bird is now focusing on its AI Agentic Harness platform, which enables AI agents to manage communications such as messaging, calls, and emails. The company reported an EBITDA of €165 million last year and has shifted its primary customer focus toward the United States market.