AI-as-a-service startup Jaid has raised 拢3 million in seed funding.
Jaid鈥檚 solutions automate a variety of use cases, including client service automation, sales automation, payment exception processing, and claims administration processing.聽
It says its technology helps businesses reduce costs, improve efficiency and make data-driven decisions.
Jaid鈥檚 focus to date has been on the financial services industry with a strong roster of clients including ClearBank, Syndio, Calastone and Legal & General.
Sure Valley Ventures led the round which will expand its machine learning team, build out business development efforts across America and Europe and expand into Asia. Jaid has bases in London and New York.
It is the second investment from Sure Valley Ventures鈥� 拢95m UK Software Fund, which included a cornerstone 拢50m investment from the British 老九品茶 Bank through its Enterprise Capital Funds programme.
Dan Kramer, CEO, Jaid, said: 鈥淲e are honoured to have the support of Sure Valley Ventures with their deep experience in the market as we continue to grow and scale our business.聽
鈥淭his funding gives us the fuel to build on the great work we have done so far, and we are excited about the opportunities it will enable us to pursue.聽
鈥淲e are committed to delivering innovative solutions that help our clients harness the power of AI so their teams can focus on what matters most.鈥�
Gareth Burchell, venture partner at Sure Valley Ventures, said: 鈥淎t Sure Valley Ventures, we invest in software businesses that are resolving a real pain point for their customers and Jaid fits perfectly into our AI-focused portfolio.聽
鈥淟ed 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.聽
鈥淚n the current economic climate, driving efficiencies in processes, cutting costs through embracing technology and enabling scalability using AI will become a key focus for business leaders around the globe.鈥�