London-based AI workflow startup Jaid has received £3m in seed funding led by UK early-stage software investor Sure Valley Ventures.
The startup’s software platform collects data from a business’s internal and external communications. It then organises this data to automate workflows in areas such as sales, client services, payment exception processing and claims administration processing. Customers of its “AI as a service” tools include ClearBank, Legal & General and Syndio.
“We are committed to delivering innovative solutions that help our clients harness the power of AI so their teams can focus on what matters most,” said Dan Kramer, CEO of Jaid.
Jaid will use the seed funding to make hires in its machine learning team, increase its presence in America and Europe, along with launching in Asia.
So far Jaid has focused on the finance industry but plans to move into different sectors, such as healthcare.
Gareth Burchell, venture partner at Sure Valley Ventures, said: “Led by a strong leadership team that is laser-focused on targeting specific customer problems using AI and ML, we have every confidence that Jaid will scale rapidly as it moves into new verticals and new geographies.”
Sure Valley Ventures’ investment in Jaid marks the second from its software fund which it raised back in March to invest in metaverse and AI startups.