Atomicwork, a SaaS startup led by Indian founders, has raised $25 million in a contemporary funding spherical backed by Khosla Ventures, because it plans to scale and deploy AI brokers to simplify communication and repair supply between workers and their enterprises.
Amid rising digital adoption, enterprises battle to natively present fast help and easy accessibility to info for his or her workers. The IT service administration market provides instruments to unravel this drawback to some extent. Nonetheless, deploying these options requires time and specialised assets. The emergence of AI has introduced some aid. But, enabling a chatbot-like expertise usually calls for an incumbent enterprise system behind the scenes. It might be ServiceNow, BMC Treatment, or Jira Service Administration.
Atomicwork replaces the incumbent’s presence with a contemporary AI-driven expertise, enabling enterprises to supply automated service workflows. Staff can use these workflows to seek out work-related solutions or entry providers from departments together with HR, IT, or finance by integrations with apps resembling Microsoft Groups, Slack, Intune, Okta, Notion, Salesforce, and GitHub, amongst others.
Vijay Rayapati, co-founder and CEO, defines Atomicwork as a “full-stack AI ServiceNow,” focusing on international corporations with round $1 billion in income and no less than 1,000 folks.
“The distinction [between ServiceNow and Atomicwork] is architectural, what was constructed 25-30 years in the past, versus how we construct in the present day,” Rayapati stated in an unique interview.
Not like deploying ServiceNow or any of its aggressive IT service administration platforms, which includes multi-year implementation cycles, Atomicwork’s platform might be carried out in not more than a few weeks, in keeping with him. The startup additionally supplies a common agent to help enterprises in organising automated workflows.
Based in 2022 by Rayapati, who beforehand based the cloud administration platform Minjar, which was acquired by Nutanix in 2018, together with Kiran Darisi and Parsuram Vijayasankar, each a part of Freshworks’ founding crew, the startup initially began with an AI assistant to automate enterprise workflows.
Because the automation demand has grown and AI capabilities have superior, Atomicwork launched its agentic service administration platform late final 12 months, which brings context-aware AI brokers that analyze a number of information sources to carry out duties throughout enterprise apps, resembling resetting their work electronic mail password, relaying questions in a prospect gross sales name, or accessing their design catalog on Figma utilizing Microsoft Groups or Slack.
ServiceNow — and others on this area — additionally permits enterprises to develop and deploy AI brokers primarily based on their necessities. Nonetheless, Rayapati advised TechCrunch that the startup, with a futuristic strategy, has constructed its software program for people and “non-humans” (learn AI brokers).
“When people need assistance inside a enterprise, they increase a ticket in ServiceNow, BMC, or Jira Service Administration … we’re principally enabling an structure the place [agents] can truly ping a message to get assist — similar to human workers,” he asserted.
Atomicwork makes use of current LLM fashions from OpenAI, Anthropic, Cohere, and Meta, together with its in-house small fashions, which it makes use of for intent detection, routing, and slot submitting, to allow workflow automation.
As AI deployment brings the query of knowledge safety and security, Rayapati stated the startup addresses this by providing enterprises the choice to personal the encryption keys for his or her information or deliver their very own mannequin endpoints into Atomicwork. He additionally said that the startup has signed agreements with cloud service suppliers AWS and Azure to limit information retention and coaching and has a number of compliance certifications.
The all-equity Sequence A spherical, co-led by Khosla Ventures and Z47 (beforehand known as Matrix Companions India), additionally noticed participation from Battery Ventures, Blume Ventures, and Peak XV Companions. It was adopted by a $3.3 million spherical involving over 40 CIOs, CTOs, and trade consultants in September final 12 months and a seed spherical of $11 million in 2023. To date, the startup has raised over $38 million.
At present, Atomicwork has eight clients, most of whom are within the U.S., together with Ammex Company, Zuora, and Pepper Cash.
It plans to make the most of the brand new funding to draw extra clients by “doubling down” its AI R&D to bolster its platform engineering, strengthen its product and expertise, and spend money on constructing extra strategic partnerships to develop integrations with corporations together with Oracle and SAP.
Rayapati didn’t disclose the precise valuation however stated it was near 5x the full capital it raised within the new spherical.
The startup has a crew of greater than 60 folks, together with over 50 in India.
