Arteria AI, a Toronto, Canada-based applied AI company, has raised $30 million in Series B funding, bringing its total funding to $50 million to date.
SaaS Investors
The round was led by GGV Capital U.S., with participation from existing investors including Illuminate Financial, Information Venture Partners, BDC Capital, and Citi.
GGV Capital is a global venture capital firm focused on multi-stage, sector-focused investments with roots in Silicon Valley and Singapore. It invests in mobile, cloud, e-commerce, and media sectors. The firm was established in 2000 and is headquartered in Menlo Park, California.
Arteria AI Use of Funds
The company will use the fund to further accelerate go-to-market activities and continue developing its AI technology for financial services.
About Arteria AI
Founded in 2020,Arteria AI is a financial services-focused AI company that developed AI-enabled software that modernizes documentation processes in institutional finance, helping improve operational efficiency and enhance the client experience. Arteria AI's platform aims to unlock efficiency and speed in various areas, including trading, lending, and asset management. Arteria is headquartered in Toronto, Canada, with operations in New York and London.
The company was recently recognized by the CB Insights AI 100 rankings and as a 2023 Finovate Awards winner.
Funding Details
Company: Arteria AI
Raised: $30.0M
Round: Series B
Funding Month: October 2023
Lead Investors: GGV Capital U.S.
Additional Investors: Illuminate Financial, Information Venture Partners, BDC Capital, Citi
Company Website: https://www.arteria.ai/
Software Category: Contract Lifecycle Management Solutions
Source: https://www.businesswire.com/news/home/20231026291366/en/