Palo Alto-based enterprise automation startup JIFFY.ai has raised $18 million in series A round funding from Nexus Ventures, Rebright Partners, and others.
The new round of funding led by Nexus Venture Partners also saw the participation of Rebright Partners, W250 Venture Fund (founded by alumni of the Stanford Executive Program), including CTO of Atlassian Sri Viswanath, Richard Galanti (CFO of Costco), Charles Goldman (CEO of Assetmark), Tony Thomas, Jim Brady, and Bob Ward (former COO of Sungard Wealth and Retirement).
JIFFY in its statement said, “The company will use the new round of funding to grow the team further and scale its product roadmap and existing customer base, which already comprises Fortune and Global 1000 companies.”
Launched in 2018 as the go-to-market brand from its parent company Paanini Inc., FIFFY.ai is an AI-first integrated automation and app development platform trained with a focus on the highly regulated fintech industry.
In a statement issued, Babu Sivadasan, Co-founder and CEO of JIFFY said, “Our goal is to set a new standard for business at the intersection of entrepreneurship and innovation.”
“Across our entire team, we’re dedicated to tackling the effects of automation on the workforce, not just by accelerating the path to profit for businesses, but also through our foundation arm, we’ll invest in programs to re-train and up-skill workers whose jobs may be displaced,” Sivadasan added.
Adding to the statement Angela Marano, Managing Director – Business Transformation, Southwest Airlines said, “From automating processes in revenue accounting and supply chains and eventually to our operating groups, we are constantly trying to improve our capabilities to help us achieve our vision of becoming the world’s most loved, most efficient and most profitable airline.”
“Jiffy.ai has been a strong partner since 2019 in helping us begin our automation journey – starting with RPA and moving towards achieving the full value of intelligent automation. This is an increasingly important part of our overall strategy as we embrace the rapid pace of change and desire to free up our people to focus on the highest value activities,” Angela added.
Speaking on the funding, Jishnu Bhattacharjee, Managing Director at Nexus Venture Partners said, “JIFFY.ai is set to make enterprises vastly more efficient and will enable use cases not possible before.”
“We are thrilled to partner with Babu and his team in their pursuit of delivering an end-to-end solution for next-generation AI-powered automation and app development across a broad range of industries,” Jishnu added.