As of 2021, the SaaS market alone was worth $130.6 billion, and the B2B SaaS vertical has driven the global enterprise tech industry for quite some time. Jiffy.ai is a name that has been operating in this sector for quite some time, and now, it has taken advantage of the funding boom to raise $53 million.
This funding is part of its Series B round and was led by the global investment firm Eight Roads Ventures. The round also included participation from venture firms Iron Pillar and R-Squared, and existing investors Nexus Venture Partners, Reaction Capital, and Rebright Partners.
The B2B automation platform plans to deploy the funds to strengthen its HyperApp platform and scale up its marketing and sales efforts. Funds will also be used to create autonomous enterprises. This will be made possible by applying AI technology and automation to transform the operations of companies.
This is not the first time Jiffy.ai has raised funds – the four-year-old app-based low-code/no-code intelligent automation platform had earlier raised $18 million in June 2020 in Series A funding. The funds had been used for research and development.
Jiffy.ai is known to help its clients assemble automated business capabilities that can learn and adapt to changing needs with nearly no extra cost or resources. This is possible through its automation platform, which blends tech such as Robotic Process Automation (RPA), Intelligent Document Processing, AI, ML, natural language processing, and no-code workflow management. With this, its clients get end-to-end business process automation and lifecycle management solutions that boost efficiency, reduce OPEX costs, and ensure faster returns on investment.
“We are focusing on strengthening our intelligent automation platform which will enable organizations to compose, configure, monitor, and maintain themselves as autonomous enterprises,” said Babu Sivadasan, co-founder and CEO, Jiffy.ai.
Today, it is a common name among businesses worldwide across various categories, such as banking and financial services, media and advertising, manufacturing, telecommunication agents, finance and accounting, and travel. They use automated workflows and processes built upon the platform.
