Enterprise AI Startup Poetic Raises $50 Million at $500 Million Valuation
Poetic, an enterprise AI startup building software for complex workflows inside large companies, raised $50 million at a $500 million valuation. The company said investors in the round include Kleiner Perkins, Founders Fund, First Harmonic and Genius Ventures.
Poetic said its system is aimed at high-accuracy work such as anti-money laundering, fraud investigations and underwriting. The startup said it went from zero to an eight-figure run rate within a year with a four-person team, and now works with customers including AIG, SoFi and Chime; at SoFi, it said the software reached more than 99% quality on fraud investigations in five weeks.
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@feross🚀
@tfnbreakingnewsPoetic raises $50M Series A at a $500M valuation. It was led by @kleinerperkins, with @OpenAI, @foundersfund, and First Harmonic also investing. #ustech #ai #funding #startups #technology #investment #innovation #ent