UnifyApps Bags $20 Mn To Expand Its AI Enterprise Play

Software integration startup UnifyApps has raised $20 Mn ( around INR 168.7 Cr) in a Series A funding round led by ICONIQ Growth, along with participation from existing investors, including Elevation Capital among others.

The fresh funds will be used to expand UnifyApps’s enterprise AI agent platform while enabling deeper integration across software-as-a-service (SaaS) applications.

Besides this, the company has roped in former SVP of sales at Sprinklr, Haitham ElKhatib, as cofounder and chief revenue officer. 

“The emergence of enterprise-grade generative AI capabilities is making proprietary data more valuable and highlighting this problem more loudly than ever. We believe Pavitar Singh and UnifyApps are building the central nervous system to deploy generative AI in the enterprise,” ICONIQ Growth wrote in a blog post. 

ICONIQ Growth is a growth equity fund investing in B2B SaaS companies, it has already invested in companies like Airbnb, Uber and Snowflake. 

Founded by Pavitar Singh, Sumeet Nandal, Abhishek Kurana, Rachit Mittal, Abhinav Singi, Rahul Anishetty, Kavish Manubolu, Haitham Elkhatib and Shivam Satrawal, UnifyApps automates workflows and quickly connects various applications.

It provides a unified integration platform that helps enterprises streamline their operations by enabling the creation of custom applications faster, automating complex workflows, and syncing data between applications in real-time. 

Additionally, it leverages advanced generative AI to develop specialised LLM-powered agents for optimised integrations. 

UnifyApps competes against Zoho, Freshworks, Chargebee, and Keka which offer similar solutions in the SaaS sector. 

Earlier in May, with the announcement of $11 Mn fundraising in a Seed round, the company also outlined that it aims to expand its platform to support over 5,000 applications, enhance the capabilities of generative AI, and develop agents powered by large language models.

This comes at the heart of enterprise tech startups garnering huge interest of investors in recent times. 

For the period between 2014 and H1 of 2024, enterprise tech startups have secured a cumulative funding of $16 Bn across 1,847 deals. 

Notably, India boasts a robust enterprise tech ecosystem with over 1261 startups in the sector and has produced  22 unicorns in the likes of Postman, Freshworks, BrowserStack and others.