[Funding alert] Enterprise automation startup JIFFY.ai raises $18M in Series A led by Nexus Venture Partners
California-headquartered enterprise automation startup JIFFY.ai has raised $18 million in Series A funding, led by Nexus Venture Partners with participation from Rebright Partners, W250 Venture Fund, and several C-level business leaders.
The C-level executives who invested in JIFFY.ai are Sri Viswanath, CTO of Atlassian; Richard Galanti, CFO of Costco; Charles Goldman, CEO of Assetmark; Tony Thomas, former CIO of Nissan Motors; Jim Brady, former COO of Grant Thornton; and Bob Ward, former COO of Sungard Wealth and Retirement.
Led by CEO and Co-founder Babu Sivadasan, JIFFY.ai is unusually structured with 20 co-founders, 70 percent of whom come from the C-suite level or have previous founder experience.
With a centre in Bengaluru, this startup has a team that has successfully led Stamps.com and Envestnet to IPO with a combined market capitalisation of more than $5 billion.
According to the startup, with deep expertise in AI, natural language processing, fintech, and automation, JIFFY.ai has evolved its core product to make complex process automation and application design available to enterprises in just a few clicks.
“Our goal is to set a new standard for business at the intersection of entrepreneurship and innovation,” Babu said, adding, “Across our entire team, we’re dedicated to tackling the effects of automation on the workforce, not just by accelerating the path to profit for businesses, but also through our foundation arm, we’ll invest in programs to re-train and up-skill workers whose jobs may be displaced.”
Over the last 18 months, JIFFY.ai has built a team of 150 global employees, and a customer base of over 20 enterprises.
According to the startup, it is pursuing a responsible path to AI innovation, and the new funding will be used to deliver on its vision, grow the team further, and scale its product roadmap and existing customer base which already comprises Fortune and Global 1000 companies.