Since its launch in November 2018, Intuit Circles has been working with startups, providing them with a personal ecosystem to enable business growth and knowledge. One of them is Artivatic, a Bengaluru-based startup that uses patterns of psychology, genomics science and neuroscience capabilities to automate decision making in real time to improve ROI, cross-sector intelligence and a personalised recommendation experience.
The journey of Artivatic began in December 2016 when Layak Singh and Puneet Tandon decided to use their experience in Machine Learning (ML) to build an AI engine that could make banks win customers faster and reduce non-performing assets by studying the credit history of a prospective client. Prior to founding Artivatic, both founders had experience with startups and corporates. While Layak was still working with his last startup which focused on human behaviour analysis, he wondered if they would able to make these decisions for humans with the help of technology, they could enable better-decision making, and Artivatic was born.
Artivatic is an AI-decision platform for insurance and healthcare enterprises to enable patient on-boarding, patient profiling, medical and diagnostic data digitisation, health risk profiling, prior-authorisation and claims denial prediction, health insurance, health claims, policy decisions, underwriting for insurance, device-based health intelligence, preventive healthcare, health population, health personalisation, and more. They use ML/Deep Tech/Neuroscience/NLP technologies to develop their algorithms, products and solutions.
The duo is building a machine that can provide an insurance policy or a loan to individuals in a matter of minutes. The machine is able to study a prospective customer's bank history and verify their Aadhaar details before underwriting a policy or disbursing a loan.
Based out of Bengaluru, the company has 30+ technology team with more than three patents filed in India and the US in health and decision-making areas. They have raised about USD 850K as funding from multiple HNIs, Indian Angel Network and IAN Fund I. Recently, they onboarded Rajesh Relan, Ex-MD, India - PNB MetLife as their Board Member and Advisor to strengthen Artivatic's domain capabilities to build intelligent solutions.
From hiring the right talent to connecting with corporates for business integration to scaling to funding to R&D costs, Artivatic had several challenges to tackle along the way. But one of the critical ones from Day 1 was to hire the right financial or accounting team to manage their finances. Like most startups, they used Excel or personal finances, which later became a problem when it came to cash flow assessment or while providing financials to investors or while filing annual returns.
They heard about Intuit Circles from the Intuit team and decided to opt for QuickBooks Online. Intuit Circles is also helping them connect to other businesses for collaborations and helping them scale their solutions through Intuit products. That's not all, being a part of Intuit Circles has helped Artivatic get mentoring and branding opportunities.
They have opted for the QuickBooks Online annual subscription, using which their accountant can have access to the system, and simplify their accounting-related activities. Although they are at an early-stage with the programme, they have already partnered with the Intuit Circles team to co-develop unique solutions. "We recommend other startups to join Intuit Circles. If you're looking to scale and get relevant business relations, this is the right catalyst," says Layak.
Watch how Intuit Circles helped Artivatic directly sync with QuickBooks Online to break down the complicated financial process.
Like Artivatic, you too can scale your business quickly with the help of Intuit Circles. If you are a startup looking to get financially successful or with a product solution that can integrate with QuickBooks Online, click here to apply for the programme.