Arteria AI's platform structures data when a contract is drafted and uses an intelligent workflow to speed up approvals, negotiations, and decision-making. It also provides insights into the process, such as bottlenecks or areas for improvement. The company, which launched in 2020, plans to double its headcount this year and continue investing in research to create highly relevant models for its customers.
Key takeaways:
- Arteria AI, a company focusing on unstructured data, particularly in contracts for institutional finance, has raised $30 million in a Series B funding round led by GGV Capital U.S.
- The company's platform structures data at the time a contract is drafted and uses an intelligent workflow to speed up approvals, negotiations, and decision-making.
- Arteria AI has seen significant customer acquisition growth, tripling its recurring revenue and securing major financial institution customers like Goldman Sachs and Citi.
- The company plans to use the new funding for additional go-to-market activities and AI technology development in financial services, and aims to double its headcount this year.