Nexus leads $18 mn funding round in enterprise automation firm JIFFY.ai

Palo Alto, California headquartered enterprise automation company JIFFY.ai has raised $18 million in Series A funding round led by Nexus Venture Partners. 

Rebright Partners, W250 Venture Fund, along with C-suite executives, such as Atlassian CTO Sri Viswanath, Costco CFO Richard Galanti and Assetmark CEO Charles Goldman, participated in the round, as per a statement.

The company will use the fresh capital to grow its team and scale its product roadmap, it said.

“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,” Babu Sivadasan, CEO and co-founder of JIFFY.ai, said in the statement.

JIFFY.ai was hived off as a separate entity from its parent company Paanini in 2018 to create an integrated automation and app development platform for the fintech industry. A group of 20 co-founders, a majority of whom are enterprise veterans and entrepreneurs, set up the platform.

The company provides complex process automation and application design for enterprises on its platform. With expertise in artificial intelligence (AI), natural language processing and fintech, JIFFY.ai offers products such as no-code application development, cognitive workbench and a configurable analytics dashboard.

A majority of its 150-plus workforce operates from its Bengaluru office, with a presence in Kochi and Thiruvananthapuram. The firm has a customer base of 1,000 global companies.

“JIFFY.ai is set to make enterprises vastly more efficient and will enable use cases not possible before,” Jishnu Bhattacharjee, managing director at Nexus Venture Partners, said in the statement.

Another Nexus-backed software-as-a-service (SaaS) company Postman, which provides a platform to test and develop application program interface (API), raised $150 million in a Series C funding round, at a valuation of $2 billion. Nexus is also an investor in cloud data backup and recovery unicorn Druva.