Palo Alto, Calif, Jun 12 2020: Enterprise automation platform JIFFY.ai raises USD 18 million (around Rs 136 crore) in Series A round funding led by Nexus Venture Partners.
The funding round also saw participation from Rebright Partners, W250 Venture Fund (founded by alumni of the Stanford Executive Program), and corporate leaders led by Sri Viswanath, Richard Galanti, Charles Goldman, Tony Thomas, Jim Brady, and Bob Ward, a statement 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 programmes to re-train and up-skill workers whose jobs may be displaced,” JIFFY.ai CEO and co-founder Babu Sivadasan said.
Over the last 18 months, JIFFY.ai has built a team of 150 global employees, and a customer base of over 20 enterprises.
JIFFY.ai is uniquely structured with 20 co-founders, 70 per cent of whom come from the C-suite level or have previous founder experience, with a team that has successfully led Stamps.com and Envestnet to IPO with a combined market capitalisation of more than USD 5 billion, the statement said.
The company”s largest equity shareholder is its non-profit organisation, Paanini Foundation that will offer job training and placement assistance programmes for people impacted by automation in the workplace.
It will announce new partnerships and program details in the coming months as it tackles demands from its corporate partners and existing client base.