As part of its Series B round, Bangalore-based (India) Jiffy.ai raised USD 53 million on March 9, 2022. Jiffy.ai is an enterprise tech platform. Fidelity-backed Eight Road Ventures, a leading global investment firm, led the round.
Iron Pillar, R-squared, and existing investors including Nexus Venture Partners, Reaction Capital, and Rebright Partners also participated in the funding.
Jiffy.ai’s Purpose of Funding
The Bangalore-based startup intends to use the newly collected funds to scale its marketing and sales activities.
Further, it wants to advance its Hyper App platform. Hyper App platform combines Robotic Process Automation (RPA), Intelligent Document Processing, no-code workflow management and software creation.
Previously, in June 2020, Jiffy raised USD 18 million in the Series A funding round.
What the co-founder of Jiffy.ai has to say-
“This funding will advance our mission to help build autonomous enterprises of the future by applying artificial intelligence and automation to transform enterprise operations. We are focusing on strengthening our intelligent automation platform, which will enable organisations 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 resource and operational expenditure,” the company’s co-founder and CEO Babu Sivadasan said.
What the investor has to say-
“The automation of business processes has become an integral pillar of the digital transformation agenda of enterprises, especially post-pandemic. JIFFY.ai’s AI-driven approach to automation is unique with an integrated, modular, and intelligent solution that has proven superior alongside a faster and more sustainable ROI. We are thrilled to partner with Babu and his team in their mission to help enterprises reap the benefits of automation at scale.”- Shweta Bhatia, Partner & Head of Technology Investments India, Eight Roads Ventures.
About the company
Jiffy.ai is an app-based low code or no code intelligent automation platform. Low code or no code is a visual software development environment. It allows developers to drag and drop application components, connect them, and create mobile or web apps.
Founded in 2012, Jiffy.ai helps business users to adapt to change and innovate faster.
The company boasts increasing clientele across various geographies. It includes Fortune 500 companies and notable clients such as Docupace Technologies LLC, AirAsia, Orion, ViacomCBS Inc., Fox Corp. and Kinesso LLC.
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