Atomicwork, a Software as a Service 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 staff and their enterprises.
Amid rising digital adoption, enterprises wrestle to natively present fast help and quick access to data for his or her staff. The IT service administration market provides instruments to unravel this downside to some extent. However, deploying these options requires time and specialised sources. The emergence of AI has introduced some reduction. Yet, enabling a chatbot-like expertise typically calls for an incumbent enterprise system behind the scenes. It could possibly be ServiceNow, BMC Remedy, or Jira Service Management.
Atomicwork replaces the incumbent’s presence with a contemporary AI-driven expertise, enabling enterprises to supply automated service workflows. Employees can use these workflows to search out work-related solutions or entry companies from departments together with HR, IT, or finance by integrations with apps similar to Microsoft Teams, 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 world firms 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 at this time,” Rayapati mentioned in an unique interview.
Unlike deploying ServiceNow or any of its aggressive IT service administration platforms, which entails multi-year implementation cycles, Atomicwork’s platform could possibly be carried out in not more than a few weeks, in accordance with him. The startup additionally supplies a common agent to help enterprises in establishing automated workflows.
Founded 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 group, the startup initially began with an AI assistant to automate enterprise workflows.
As 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, similar to resetting their work e-mail password, relaying questions in a prospect gross sales name, or accessing their design catalog on Figma utilizing Microsoft Teams or Slack.
ServiceNow — and others on this area — additionally permits enterprises to develop and deploy AI brokers primarily based on their necessities. Nonetheless, Rayapati informed TechCrunch that the startup, with a futuristic method, 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 Management … we’re mainly enabling an structure the place [agents] can truly ping a message to get assist — identical to human staff,” he asserted.
Atomicwork makes use of present 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 information safety and security, Rayapati mentioned the startup addresses this by providing enterprises the choice to personal the encryption keys for his or her information or carry 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 Series A spherical, co-led by Khosla Ventures and Z47 (beforehand known as Matrix Partners India), additionally noticed participation from Battery Ventures, Blume Ventures, and Peak XV Partners. It was adopted by a $3.3 million spherical involving over 40 CIOs, CTOs, and business specialists in September final 12 months and a seed spherical of $11 million in 2023. So far, the startup has raised over $38 million.
Currently, Atomicwork has eight clients, most of whom are within the U.S., together with Ammex Corporation, Zuora, and Pepper Money.
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 put money into constructing extra strategic partnerships to develop integrations with firms together with Oracle and SAP.
Rayapati didn’t disclose the precise valuation however mentioned it was near 5x the overall capital it raised within the new spherical.
The startup has a group of greater than 60 folks, together with over 50 in India.
