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Sana, a Swedish AI-powered studying and data platform, introduced in the present day that it has landed a further $28 million in an opportunistic funding spherical led by world enterprise capital agency NEA. Workday Ventures additionally joined the spherical.
The brand new capital brings Sana’s Sequence B funding to a mixed complete of $62 million, making the Swedish-born scaleup probably the most extremely funded AI firms in Europe. To this point, Sana has raised greater than $85 million.
With the extra funding, Sana will proceed rising its product growth and industrial groups throughout Stockholm, London, and New York places of work. Its headquarters will stay in Stockholm, the place founder and CEO Joel Hellermark began the corporate at age 19.
Sana goals to enhance human intelligence via synthetic intelligence. Final 12 months, Sana leveraged generative AI to launch Sana AI, the corporate’s newest launch of instruments.
It contains Sana Assistant and Common Search. The previous can generate course questions, explanations, photos, and even total programs by combining studying content material with data from the web, whereas the latter permits customers to look all their firm’s apps, from Phrase paperwork and emails to messages, slides, and spreadsheets, to reply each query.
Sana AI can even generate real-time summaries of reside conferences and create total studying programs from scratch and write SQL to question knowledge.
“At Sana, we imagine each group’s mission depends upon the collective intelligence of its staff. That intelligence depends upon data, but most institutional data in the present day is scattered throughout a number of instruments, trapped in folks’s minds, and misplaced in verbal conversations. AI is the important thing to fixing this drawback at scale. By unlocking data for each worker throughout any group, we unlock world progress,”
stated Joel Hellermark, founder and CEO of Sana.
Sana stated it wasn’t on the lookout for funding when NEA made its proactive supply, having closed a $34M Sequence B spherical led by Menlo Ventures final December. The extra investor curiosity got here as Sana reported a threefold enterprise progress 12 months over 12 months.
Following the brand new funding, NEA CEO Scott Sandell and Managing Director Philip Chopin will be part of Sana’s board of administrators. Since becoming a member of NEA in 1996, Sandell has performed a job in lots of industry-transforming companies, together with Robinhood, Salesforce, Tableau Software program, and Workday.
In January, NEA closed on roughly $6.2 billion throughout two funds. One is devoted to early-stage investing, and the opposite will give attention to enterprise growth-stage alternatives. As of Dec 31 final 12 months, NEA has over $25 billion in property beneath administration.
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