JIFFY.ai Raises $53M in Series B Funding
PALO ALTO, Calif.–(BUSINESS WIRE)–JIFFY.ai, an award-winning application-based low-code/no-code intelligent automation platform, today announced it has raised $53 million in its Series B funding round Eight Roads Ventures, a leading global investment firm backed by Fidelity, led this investment round, which included participation from venture capital firms Iron Pillar, R-Squared and existing investors Nexus Venture Partners, Reaction Capital and Rebright Partners.
JIFFY.ai plans to use the funding to scale up its sales and marketing efforts and to advance its HyperApp platform, which combines robotic process automation (RPA), intelligent document processing, workflow management working without code and creating software.
“This funding will advance our mission to help build the autonomous businesses of the future by applying artificial intelligence and automation to transform business operations,” said Babu Sivadasan, co-founder and CEO of JIFFY. have. “We are focused on strengthening our intelligent automation platform that will enable organizations to compose, configure, monitor and sustain themselves as autonomous businesses. form, they will be able to assemble automated business capabilities that can learn and adapt to changing needs with little or no additional resources and operational expenses.This investment is a validation of JIFFY.ai’s continued progress as a disruptive in the RPA space and no code.
JIFFY.ai’s cloud-native enterprise platform brings the power of artificial intelligence (AI), machine learning, natural language processing, and analytics to business users. It enables them to deliver end-to-end business process automation and lifecycle management solutions that improve efficiency, reduce OPEX costs, and ensure faster returns on investment.
Leaders such as the Fortune Global 500 from multiple industries such as banking and financial services, media and advertising, manufacturing, telecommunications, finance and accounting, and travel use highly efficient automated workflows and processes based on the platform.
Commenting on the investment, Shweta Bhatia, Partner and Head of India Technology Investments, Eight Roads Ventures, said: “Business process automation has become an integral pillar of companies’ digital transformation agenda, especially post-pandemic. JIFFY.ai’s AI-based automation approach is unique with an integrated, modular and intelligent solution that has proven superior with faster and more sustainable ROI. We are thrilled to partner with Babu and his team on their mission to help businesses realize the benefits of automation at scale. »
Gartner predicts that business-driven hyperautomation needs will be one of the top three drivers of low-code adoption through 2022. They estimate that low-code will be responsible for more than 65% of the app development activity by 2024 and the pressure to deliver digital solutions as the fallout from the global pandemic has accelerated this adoption.
“Digital transformation, led by cognitive technologies, is experiencing a paradigm shift in the post-pandemic world,” noted Sanjay Poonen, former chairman of SAP and COO of VMware. “JIFFY.ai offers a compelling suite of these technologies, which are powering digital transformation with vertically integrated applications. They combine an engaging omnichannel user experience with an autonomous, AI-powered middle and back office. »
Pascal Bornett, intelligent automation thought leader, author and influencer, said, “Scaling intelligent automation (AI) transformations is the holy grail that most companies around the world are targeting. According to my research, combining capabilities such as artificial intelligence, automation and low-code in the same platform is a key asset in achieving this goal, enabling the automation of even the most complex use cases. while engaging and empowering most people in the business.There is no doubt that JIFFY.ai is poised to close this gap in the market and become the primary enabler for businesses to harness the benefits of Large-scale AI.
Over the past few years, JIFFY.ai has significantly expanded its customer base across all geographies. Almost all of these industry innovators testify that business automation has helped them improve efficiency and save millions of dollars every year.
“The Iron Pillar team is thrilled and honored to invest in JIFFY.ai and join an outstanding team and co-investors to help build the leader in next-generation intelligent business process automation” , said Mohanjit Jolly, partner at Iron Pillar. “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. It’s no surprise that senior executives from JIFFY.ai’s corporate clients have also invested in this round. We are excited to be part of JIFFY.ai’s journey to become the leader in the next generation of low-code/no-code enterprise applications.
“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. “We are excited to continue our partnership with Babu and the team to build a remarkable business.”
While JIFFY.ai believes in the power to advance cognitive applications and automation, it is also aware of the social impact of these disruptive technologies. The company 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 productivity paradigm.
About Eight Roads Ventures
Eight Roads Ventures is a global investment firm backed by Fidelity. Eight Roads Ventures manages $8 billion in assets across Asia, Europe, Israel and the United States, with a focus on technology, health and consumer. Some of Eight Roads Ventures’ global technology investments include Appsflyer, Akulaku, Alibaba, Decibel Insight, Icertis, FarEye, Fireblocks, Kyligence, LeadIQ, MoEngage, Neo4J, Plaid, StashAway, Securonix, SaaSLabs, Whatfix and Yappli. More information: www.huitroads.com
About the Iron Pillar
Iron Pillar is a venture capital investor specializing in “built from India” mid-stage technology companies. Founded in January 2016, Iron Pillar provides growth capital and active assistance in global business expansion to companies in the enterprise and consumer technology sectors. The Fund supports founding teams who want to build companies with enterprise value over $1 billion, built to last. Additional information about Iron Pillar is available at https://ironpillarfund.com
Founded with a mission to radically change the way companies achieve autonomy by automating complex business processes, JIFFY.ai’s intelligent automation platform empowers business users to adapt to change and innovate faster. . The integrated platform uses the cognitive capabilities of no-code software development, intelligent document processing, natural language processing, RPA, machine learning and AI, as well as a whole human approach to power the next generation of enterprise applications. . Built on this platform, JIFFY.ai’s HyperApps (as-a-service) are pre-packaged automation applications that can be extended across the enterprise to accelerate end-to-end automation. Fortune Global 500 companies, Big4 consulting firms, and global leaders in banking and financial services, media and advertising, manufacturing, telecommunications, finance and accounting, and travel use the platform of JIFFY.ai to achieve operational excellence, improve customer experience and realize the true value of digital transformation. Explore more at www.jiffy.ai.