About $53M raised by JIFFY.ai in Series B round via Eight Roads Ventures
- ByStartupStory | March 10, 2022
Jiffy.ai, a California-headquartered enterprise automation platform , Palo Alto, raised about $53 million in its Series B round of funding led by Eight Roads Ventures, a Fidelity-backed investment firm. Iron Pillar, R-Squared and returning investors Nexus Venture Partners, Reaction Capital, and Rebright Partners are a few venture funds that also participated in the round.
About $18 million has been raised by the company in a Series A round of funding in June 2020 led by Nexus Venture Partners. The capital has been planned to be utilised in order to scale its sales and marketing and advance its HyperApp platform using artificial intelligence (AI), natural language processing (NLP), machine learning (ML), and advanced analytics which simplifies business process automation.
JIFFY.ai was founded in the year 2018. In order to develop an integrated automation and app development platform for the fintech industry, it was hived-off from its parent company Paanini. Businesses across banking and financial services, media and advertising, manufacturing, telecommunications, finance and accounting, and travel has currently been using the intelligent automation platform of JIFFY.ai.
An end-to-end business process automation and lifecycle management solutions have been helped by the company so as to boost efficiency and reduce OPEX costs. JIFFY.ai has been counted as its primary market by the US and employs over 150 people across four countries. UiPath and Automation Anywhere are the larger incumbents in the RPA space that have been competed by JIFFY.ai.
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