fileAI Secures USD 14M Series A to Revolutionize AI Workflow Automation
Deal News | Feb 04, 2025 | EIN
fileAI, a leader in AI workflow automation and unstructured data processing, has announced raising USD 14 million in a Series A funding round. This investment, led by Illuminate Financial along with Antler Elevate, Insignia, and Heinemann Group, increases fileAI's total funding to over USD 20 million. The Singapore-based company, which serves multinational clients such as MS&AD and Toshiba, will utilize the funds to scale its AI capabilities, reducing enterprise back-office costs and enhancing productivity. In 2024, fileAI processed over 200 million files, saving customers significant costs. The firm supports diverse industries including financial services and manufacturing by handling unstructured data in over 200 languages. fileAI plans to launch a new platform in Q1 aimed at finance, operations, and legal sectors, providing tools for document automation and compliance. The investment reflects confidence in fileAI's potential to offer cutting-edge AI solutions for large-scale data management.
Sectors
- Artificial Intelligence
- Enterprise Software
- Financial Services
Geography
- Singapore – fileAI is based in Singapore, where it serves as a hub for its operations and client interactions.
- United States of America – fileAI has clients in the USA and targets North America as a strategic market for its AI solutions.
- Asia – The company has a significant client base across Asia, including Japan and Hong Kong, indicating its strong presence in this region.
Industry
- Artificial Intelligence – The article focuses on fileAI’s development and application of AI technologies for workflow automation and data management, making this industry classification highly relevant.
- Enterprise Software – fileAI provides software solutions for automating enterprise workflows and data management, placing it squarely within the enterprise software industry.
- Financial Services – The range of services offered by fileAI includes automation in financial sectors, and the funding is led by investors in the finance domain, which implicates the financial services industry.
Financials
- USD 14M – Series A funding raised by fileAI.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| fileAI | Target Company | Company | fileAI is a leader in AI workflow automation, focusing on unstructured data processing for enterprises. |
| Illuminate Financial | Leading Investor | Company | Illuminate Financial is a venture capital firm that led the recent funding round for fileAI, demonstrating strategic interest in AI and financial technology. |
| Antler Elevate | Investor | Company | Antler Elevate participated in the Series A funding round for fileAI. |
| Insignia | Investor | Company | Insignia is one of the investors in fileAI's Series A round. |
| Heinemann Group | Investor | Company | Heinemann Group participated in the funding round for fileAI. |
| Luca Zorzino | Representative of Illuminate Financial | Person | Luca Zorzino is a partner at Illuminate Financial and Head of Asia, involved in the decision to invest in fileAI. |
| Christian Schneider | CEO and Co-founder | Person | Christian Schneider is the CEO and Co-founder of fileAI, driving the company's strategy and innovation. |