Sana, a Stockholm, Sweden-based learning platform, raised an additional $28 million in Series B, bringing its total Series B funding to $62 million.
The additional was led by global VC firm NEA, with participation from Workday Ventures, bringing Sana's total funding raised to $80 million, valuing the company at $250 million post-money.
The company plans to use the additional funding for product development and to expand its team of 70 employees.
The platform utilizes AI technology to create an index of companies' information, enabling employees to search, query, and perform various tasks such as creating training courses, summarizing information, and translating content.
“It's really a knowledge platform for the enterprise. Think about it as like the Library of Alexandria, all of the questions you might want answers to, all of the company's knowledge, everything is sort of captured in this platform,” founder and CEO Hellermark tells Forbes.
Sana acts as an interface between the licensed language models on one end and a company's information and data on the other. Sana's system ensures that a company's proprietary information remains private.
Company: Sana Labs AB
Raised: $28.0M
Round: Series B
Funding Month: May 2023
Lead Investors: NEA
Additional Investors: Workday Ventures
Company Website: https://www.sanalabs.com/
Software Category: AI-powered Learning Platform
About the Company: Founded in 2016 by Joel Hellermark, Sana is an AI-powered learning platform that empowers organizations to find, share, and harness the knowledge they need to achieve their missions. It provides learning courses, polls, and quizzes to help upskill employees. Sana has about 200 enterprise customers across sectors like healthcare and banking—including fintech platform Klarna, cleaning company Hemfrid, and pharmaceutical brand Merck—and 300,000 individual users. The software developed by Sana utilizes eight different AI systems and large language models, including OpenAI's Whisper, GPT-4, and Dall-E, Anthropic's Claude, and Google's PaLM.Sana has headquarters in Stockholm and offices in London and New York.
Source: https://www.forbes.com/sites/rashishrivastava/2023/05/31/this-26-year-old-has-raised-another-28-million-to-build-an-ai-assistant-for-the-workplace/