Friday, February 23

AI Firm Machinify Raises $10 Million in Series A Round

Artificial intelligence company Machinify has reportedly raised funds amounting to $10 million in Series A funding round. The round was led by Battery Ventures with participation from GV and Matrix Partners.

Through Machinify, the companies feed the system raw data, specify what they’re trying to optimize for. Based on past decisions, the machine can figure out the right thing to do.

“Our core notion is that today, enterprises are collecting a ton of data,” Machinify founder and CEO Prasanna Ganesan stated. “But if you look at how many of them are successful in turning it into smarter decision-making to drive efficiency, very few companies are succeeding.”

Machinify is laser-focused on the critical operational issues created by the deployment of what we often call Software 2.0 within enterprises.

“Software 2.0 is software that is not written by humans like traditional software but is dynamically driven by AI models and large enterprise datasets. Software 2.0 requires a completely different approach, and we believe that the Machinify platform holds the key to unlocking its value,” GV general partner Adam Ghoborah said.