AI-based workflow automation platform Nanonets secures $29M Series B funding led by Accel, raising total funding to $42M.
AI-based workflow automation platform Nanonets raised $29M Series B funding led by Accel, bringing the total funding to $42M. The company has experienced rapid growth, with 34% of Global Fortune 500 companies using its platform across various sectors. The user base has increased 4x in the last 12 months, and revenue primarily comes from automating finance processes such as accounts payable and reconciliation. Nanonets plans to use the new funding for R&D to improve AI technology, invest in sales and marketing, and expand operations.
March 12, 2024
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