JIFFY.ai raises $53M in Series B round

Palo Alto, California-headquartered, Jiffy.ai automation platform has raised $53 million in its Series B round of funding. The round was led by Fidelity-backed investment firm Eight Roads Ventures. In this round, the participation was also made by venture funds Iron Pillar R-Squared. Few of the returning investors are Nexus Venture Partners, Reaction Capital, and Rebright Partners.

Before this funding round, the company had raised $18 million in a Series A round of funding led by Nexus Venture Partners in June 2020.

Jiffy.ai is planning to utilize the capital to scale its sales and marketing and advance its HyperApp platform. The term helps in simplifying business process automation using artificial intelligence (AI), natural language processing (NLP), machine learning (ML), and advanced analytics.

Jiffy.ai was founded in 2018 by Babu Sivadasan (Co-founder and CEO). JIFFY.ai was hived-off from its parent company Paanini to develop an integrated automation and application development platform for the fintech industry. An intelligent automation platform of the company is currently used by businesses across various fields like:

banking and financial services,
media and advertising,
manufacturing,
telecommunications,
finance and accounting, as well as
travel.

It helps them with end-to-end business process automation and lifecycle management solutions to boost efficiency and to downfall OPEX costs. JIFFY.ai considers the US as its primary market. The US market employs over 150 people across four countries.

EXECUTIVE OPINION:

“This funding will advance our mission to help build autonomous enterprises of the future by applying artificial intelligence and automation to transform enterprise operations,” said Babu Sivadasan, Co-founder and CEO at JIFFY.ai.

He further added, “We are focusing on strengthening our intelligent automation platform, which will enable organizations to compose, configure, monitor, and maintain themselves as autonomous enterprises. Using the platform, 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 expenditure. This investment is validation for JIFFY.ai continued progress as a disruptor in the RPA (Robotic Process Automation) and no-code space.”

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JIFFY.ai raises $53M in Series B round

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