BENGALURU / LONDON (IT BOLTWISE) – UnifyApps, an emerging artificial intelligence startup, recently closed an impressive funding round. The company secured $50 million to fuel its expansion in Europe and further develop its platform. At the same time, Ragy Thomas, founder of Sprinklr, was appointed as the new co-CEO.
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UnifyApps, a young company specializing in integrating AI technologies into enterprise systems, recently closed a significant round of financing. The company raised $50 million in a Series B round led by WestBridge Capital. This investment brings the startup’s total value to around $250 million, according to industry sources.
The funding round, in which ICONIQ also participated, brings UnifyApps’ total funding to approximately $81 million. The company was founded in 2023, shortly after the hype around generative AI was sparked by the launch of ChatGPT. UnifyApps positions itself as an “enterprise operating system for AI,” connecting systems like Salesforce and Workday with large language models to automate routine tasks.
UnifyApps’ customers include well-known companies such as home improvement giant Lowe’s Companies, India’s HDFC Bank and Deutsche Telekom. They use the software to automate HR tasks, speed up claims processing and optimize supply chains. The company reports sales growth that has increased more than sevenfold compared to the previous year, but does not provide exact figures.
UnifyApps competes with other automation technology developers such as UiPath and Automation Anywhere, as well as AI agents from major technology companies such as Microsoft. The need for such tools is growing as companies adopting AI technology struggle with high failure rates. An MIT study showed that about 95% of AI projects did not provide a return on investment for the companies surveyed.
Ragy Thomas, an enterprise software veteran and founder of publicly traded Sprinklr, sees UnifyApps’ advantage in that it was built specifically for AI, unlike competitors that adapt older platforms. Thomas will serve as co-CEO alongside co-founder Pavitar Singh. With the new funding, UnifyApps plans to expand its team of currently around 400 employees by 110, expand its presence in Europe and accelerate platform development.
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