Eight Roads Ventures led a $53 million fundraising round for Jiffy.ai, a business-to-business (B2B) automation platform. According to the company, the funds will be used to expand the company’s sales and marketing operations and advance its HyperApp platform.
According to the company, Iron Pillar, R-Squared, and existing investors Nexus Venture Partners, Reaction Capital, and Rebright Partners all participated in the round.
“This funding will help build autonomous enterprises of the future by applying artificial intelligence and automation to transform enterprise operations,” said Babu Sivadasan, cofounder and chief executive, Jiffy.ai.
The company, founded in 2018 as Paanini Inc.’s go-to-market brand, is focusing on developing its intelligent automation platform. Clients can use the platform to build automated business capabilities to learn and adapt to changing needs with minimal additional resources and operational expenditure.
“The automation of business processes has become an integral pillar of the digital transformation agenda of enterprises, especially post-pandemic,” said Shweta Bhatia, partner & head of technology investments in India at Eight Roads Ventures.
“Jiffy.ai’s intelligent automation platform, powered by a no-code development engine, is set to accelerate the digital transformation of the global enterprise,” said Jishnu Bhattacharjee, managing director of Nexus Venture Partners.
“Jiffy.ai has combined the ease of building enterprise workflows with the power of AI, ML, IDP and other core technologies to deliver a powerful, comprehensive solution,” said Mohanjit Jolly, Partner at Iron Pillar.
B2B enterprise software-as-a-service (SaaS) has attracted a lot of interest from risk investors, and it’s been one of the greatest beneficiaries of the recent funding boom.