London-based Jaid, a technology firm providing AI-powered human communication solutions has raised £3M in a seed round led by Sure Valley Ventures. Sure Valley Ventures is a London-based VC firm that invests in early-stage software companies across the UK and Ireland.
The investment aims to broaden Jaid’s offering and market reach as it expands into the United States, Europe, and now Asia. This was the company’s second investment from its £95M UK Software Fund.
AI-as-a-Service
Businesses can use the firm’s AI-as-a-Service solutions to automate a variety of use cases. With the additional funding, Jaid intends to grow its machine learning team and build out business development initiatives across North America, Europe, and Asia. Jaid has so far concentrated on the financial services sector, and some of his notable clients are ClearBank, Syndio, Calastone, and Legal & General. This funding, however, will enable the exploration of new verticals such as healthcare, which has an estimated total addressable market of £15B.
Client service automation, sales automation, payment exception processing, and claims administration processing are among Jaid’s AIaaS use cases. While the robovoice may not provide the quickest or most accurate answer to your question (for the time being), the startup claims that their technology helps businesses reduce costs, improve efficiency, and make data-driven decisions.
Dan Kramer, CEO, Jaid, said: “We are honored to have the support of Sure Valley Ventures with their deep experience in the market as we continue to grow and scale our business. This 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. We are committed to delivering innovative solutions that help our clients harness the power of AI so their teams can focus on what matters most.”
Gareth Burchell, Venture Partner, Sure Valley Ventures, said: “At 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. Led 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. In 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.”
Clients of the startup include ClearBank, Syndio, Calastone, and Legal & General.
Jaid is an Al-powered automation platform led by CEO Dan Kramer, founded in 2019 that extracts critical data from all company and customer communications across all channels. It analyses and organises data to produce actionable insights, then integrates it with existing systems and workflows. The company has offices in London and New York.
