SUMMARY
Eight Roads Ventures led JIFFY.ai’s investment round along with Iron Pillar and R-Squared
Other existing investors, who participated in the funding round are Nexus Venture Partners, Reaction Capital and Rebright Partners
JIFFY.ai works with The Paanini Foundation to upskill and empower individuals for emerging career opportunities
Enterprisetech startup, JIFFY.ai has raised $53 Mn as part of its Series B funding round. Eight Roads Ventures led this funding round along with Iron Pillar and R-Squared.
Other existing investors, who participated in the funding round are Nexus Venture Partners, Reaction Capital and Rebright Partners.
“The automation of business processes has become an integral pillar of the digital transformation agenda of enterprises, especially post pandemic. JIFFY.ai’s AI-driven approach to automation is unique with an integrated, modular, and intelligent solution that has proven superior alongside a faster and more sustainable ROI. We are thrilled to partner with Babu and his team in their mission to help enterprises reap the benefits of automation at scale,” Shweta Bhatia, partner and head of Technology Investments India, Eight Roads Ventures said.
JIFFY.ai, which is operated by Paanini, will deploy funds to scale its sales and marketing efforts, and advance its hyper app platform, which combines robotic process automation (RPA), intelligent document processing, and no-code workflow management and software creation.
“This funding will advance our mission to help build autonomous enterprises of the future by applying artificial intelligence and automation to transform enterprise operations,” said Babu Sivadasan, cofounder and CEO of JIFFY.ai.
Founded by Babu Sivadasan and a cohort of serial entrepreneurs in 2012, Paanini offers big data based, AI-enabled intelligent and integrated platform for the modern-day digital enterprise. Its solution, JIFFY.ai uses bots to automate tasks within a company’s daily workflow that would otherwise be performed by the company’s employees.
JIFFY.ai’s cloud-native enterprise-grade platform brings the power of AI, ML, natural language processing and analytics to business users. It empowers them to deliver end-to-end business process automation and lifecycle management solutions that boost efficiency, reduce OPEX costs, and ensure faster returns on investment.
“We are focusing on strengthening our intelligent automation platform which will enable organizations to compose, configure, monitor and maintain themselves as autonomous enterprises. Using the platform, they will be able to assemble automated business capabilities that can learn and adapt to changing needs with little or no additional resource and operational expenditure. This investment is validation for JIFFY.ai’s continued progress as a disruptor in the RPA and no-code space,” Sivadasan added.
According to its statement, JIFFY.ai works with The Paanini Foundation to upskill and empower individuals for emerging career opportunities that require innovative human-machine collaboration, and aims to build a new paradigm of productivity.
In 2020, JIFFY.ai raised $18 Mn in Series A funding round led by Nexus Venture Partners.
Rebright Partners and W250 Venture Fund also participated in the round, alongside software company Atlassian’s CTO Sri Viswanath, wholesale corporation Costco’s CFO Richard Galanti, investment solution provider Assetmark CEO Charles Goldman, automobile maker Nissan Motor’s former CIO Tony Thomas, advisory firm Grant Thornton’s former COO Jim Brady and management solution Sungard Wealth and Retirement former COO Bob Ward.
With this capital infusion, the startup deployed this funding for product development, team and customer base expansion and product roadmap enhancements.
