Arteria AI, a leading applied AI company, has successfully secured $30m in its latest funding round, bringing its overall total to $50m.
The Series B round, which was oversubscribed, was led by GGV Capital U.S. and saw participation from all major existing investors, which include Illuminate Financial, Information Venture Partners, BDC Capital, and Citi.
The new funds are planned to be utilised to expedite go-to-market activities and further enhance its AI technology in the realm of financial services.
Arteria AI is a trusted partner of numerous prestigious financial institutions, including several global Tier 1 banks. They empower these organisations with AI-enabled software that brings documentation processes into the digital age. This transformation is conducted at an enterprise scale, resulting in increased speed and efficiency in areas such as trading, lending, and asset management.
The firm’s innovative platform eliminates the need for manual processes by structuring data from the outset of the documentation lifecycle. It surfaces data and insights through intelligent workflow tools, facilitating faster decision-making for all stakeholders. By connecting documentation processes to the automation lifecycle, Arteria enables true straight-through-processing in core business activities across the enterprise.
Shelby Austin, CEO and co-founder of Arteria AI, said, “We are thrilled to partner with GGV U.S. on our mission to address the documentation challenges in financial services. This milestone is proof positive that we are driving real and recognisable value throughout our customers.”
Jeff Richards, Managing Partner of GGV Capital U.S., said, “Automation has come in waves to large financial institutions but little has been done to effectively target documentation. It’s not just about cost and inefficiency – there are troves of valuable data that are just sitting idle. Arteria has built a powerful platform that is used across the leading financial services enterprises. We’re delighted to lead Arteria’s Series B and support the team’s vision to transform documentation in Financial Services.”
Chelcie Taylor, Investor at GGV Capital U.S., said: “We were immediately drawn to Shelby’s ability to communicate the scale—and opportunity—of the unstructured data problem. Her deep expertise and ability to attract incredible talent and drive growth, gave us confidence that Arteria could usher in a new AI-driven paradigm for how the modern financial institution engages with documentation.”
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