JIFFY.ai, an app-based low-code/no-code intelligent automation platform, announced that it has raised $53 million as part of its Series B funding round led by Eight Roads Ventures and Fidelity.
Iron Pillar, R-Squared, and existing investors Nexus Venture Partners, Reaction Capital and Rebright Partners also participated in the funding round.
JIFFY.ai plans to use the funding to scale its sales and marketing efforts, and to advance its HyperApp platform, which combines Robotic Process Automation (RPA), Intelligent Document Processing, and no-code workflow management and software creation.
“This funding will advance our mission to help build autonomous enterprises of the future by applying artificial intelligence and automation to transform enterprise operations,” said Babu Sivadasan, JIFFY.ai’s Co-founder and Chief Executive Officer. “We are focusing on strengthening our intelligent automation platform which will enable organizations 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. This investment is validation for JIFFY.ai’s continued progress as a disruptor in the RPA and no-code space.”
Commenting on the investment, Shweta Bhatia, Partner & Head of Technology Investments India, Eight Roads Ventures said: “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.”
“Digital transformation, led by cognitive technologies, is experiencing a paradigm shift in the post-pandemic world,” Sanjay Poonen, former President of SAP, and COO of VMware noted. “JIFFY.ai offers a compelling suite of these technologies, which power digital transformation with vertically integrated applications. They combine an engaging, omni-channel end-user experience with autonomous, AI-powered middle and back-office.”
Intelligent Automation thought leader, author and influencer, Pascal Bornett said, “Scaling Intelligent Automation (IA) transformations is the holy grail that most companies in the world are targeting. According to my research, the combination of capabilities such as artificial intelligence, automation and low-code into the same platform is a critical asset to reach that goal. It enables the automation of the most complex use cases while involving and empowering most people in the company. There is no doubt that JIFFY.ai is on its way to bridging that gap in the market, and becoming the key enabler for companies to harness the benefits of IA at scale.”
“The Iron Pillar team is delighted and humbled to be investing in JIFFY.ai, and joining a remarkable team and co-investors in helping build the leader in next-generation intelligent enterprise process automation,” said Mohanjit Jolly, Partner at Iron Pillar.“JIFFY.ai has combined the ease of building enterprise workflows with the power of AI, ML, IDP and other core technologies to deliver a powerful, comprehensive solution. It is not surprising that senior executives from JIFFY.ai’s enterprise customers have invested in this round as well. We are excited to be a part of JIFFY.ai’s journey to become the leader in the next generation of low-code/no-code based enterprise applications.”
“JIFFY.ai’s intelligent automation platform powered by a no-code development engine is set to accelerate digital transformation of the global enterprise,” said Jishnu Bhattacharjee, Managing Director of Nexus Venture Partners. “We are excited to continue our partnership with Babu and the team toward building a remarkable company.”
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