$3m for AI business process improvement
25 May 2023 - Investment activity
Business-to-business (B2B) software-focused venture capital firm EVP has led a $3 million funding round for Servicely.
The enterprise software company said the funding will help it progress international expansion and further develop its enterprise service management (ESM) platform.
The Servicely platform, sold through a software-as-a-service (SaaS) business model, uses artificial intelligence (AI) to support business teams in areas such as IT, HR and facilities management. Servicely’s AI analyses workflow patterns and provides recommendations for improvements.
The company raised $1.2 million in its first external raising in July last year. That round was backed by high net-worth individual investors and a family office.
Serial entrepreneur Dion Williams, who has worked in enterprise software for 25 years, founded Servicely with Ben O’Loghlin in 2020. The two had previously worked together at Keystone Management Solutions.
EVP principal Mark Velik said Servicely had achieved rapid traction in a highly competitive market, validating the EVP team’s view that it had developed a leading differentiated product and had the right team to take it to market.
Image: Servicely's platform uses AI to support business teams in improving efficiency.