Skan AI raises $63M to give AI agents a map of enterprise work
Process intelligence company Skan AI said today it raised $63 million in a Series C round to help further develop a platform that records how enterprise work actually gets done and feeds that record to artificial intelligence agents.
Founded in 2019, the company offers software that sits on employee desktops, grabs screenshots and then processes them on the machine itself. The images never leave. What goes back to Skan AI’s analytics platform is anonymized metadata: which applications were used, in what order and where decisions got made. The company says that lets it map operations without ever collecting the work product.
Skan AI splits the platform into three products. Blueprint maps how a process moves across systems and teams and Intelligence pinpoints where time and money leak out of it. The third, Agents, deploys automation modeled on what a company’s top performers actually do.
In one deployment at a large U.S. bank, Skan AI tracked 11.2 million context switches across 1,500 finance staff and surfaced $37 million in operational friction. Agents built on those observations cut cost per transaction 32% and lifted throughput 41%, worth $18 million in annualized savings, according to the company.
“Everyone is obsessed with building a better car,” co-founder and Chief Executive Avinash Misra said. “We think the bigger opportunity is building a better navigation system.”
The company has seen revenue growth of more than 300% year-over-year, with net dollar retention averaging 150%. The platform has logged upward of 25 billion work signals. Customers include a quarter of the Fortune 50, seven of the 10 largest U.S. banks and three of the five largest U.S. insurers.
U.K. facilities management group Mitie Group plc is among them. Chief Technology and Digital Officer Cijo Joseph credited Skan AI with giving Mitie “unprecedented operational visibility” that accelerated its AI rollout. Across its customer base, Skan AI puts average operational savings at 30% to 40% and cumulative measured customer value at more than $500 million.
The round was co-led by Cathay Innovation and Dell Technologies Capital, with participation from Citi Ventures, Bloomberg Beta, State Farm Ventures and Wipro Ventures. Dell Technologies Capital also led Skan’s $40 million Series B in March 2022, a round Citi backed as well.
Cathay Innovation partner Simon Wu argued that enterprise work context is becoming an infrastructure layer for corporate AI in the way customer relationship management software became the system of record for customer data, and said Skan AI is the only company he has seen building that context from direct observation rather than from documentation or system logs.
Raman Khanna, managing director at Dell Technologies Capital, said enterprise leaders now face a mandate “to identify where AI can create measurable operational advantage.”
Skan AI plans to spend the money on product work and on selling harder into financial services, insurance, healthcare and technology. The new funding takes the total raised by the company to roughly $120 million since 2019.
Image: Skan AI
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