Skan AI Raises $63M to Scale Enterprise AI Context Platform

Skan AI has secured $63 million in funding to bolster its enterprise artificial intelligence platform. Cathay Innovation and Dell Technologies Capital jointly led the round, with participation from Citi Ventures, Bloomberg Beta, State Farm Ventures, and Wipro Ventures. Based in San Jose, the company was founded by co-founder and CEO Avinash Misra.

Skan AI develops technology to capture enterprise work patterns across various systems. The platform then utilizes this context to assist businesses in identifying opportunities and deploying AI agents. The latest funding comes as companies transition from AI experimentation to operational deployment. Many firms have encountered difficulties in turning AI agents into dependable enterprise systems.

Skan AI aims to address this challenge through a continuous context layer, transforming work data into AI context. Traditional enterprise data often falls short in explaining how work is completed, as it lacks details on decisions, exceptions, and workflow sequences. Skan AI's three connected products - Skan AI Blueprint, Skan AI Intelligence, and Skan AI Agents - aim to fill this gap.

The platform is built on NVIDIA AI Enterprise and NVIDIA NIM microservices, ensuring enterprise-grade AI deployment and controlled operation environments. Skan AI reports rapid growth, with a 300% year-over-year revenue increase and 150% average net dollar retention. The company now collaborates with seven of the ten largest US banks and major organizations across banking, insurance, and other regulated sectors.

The platform focuses on operational context, including workflow sequences and decision paths, to identify technology gaps and potential automation opportunities. Skan AI claims its approach has generated over $500 million in cumulative customer value.