UAE - Mubasher: Akkadian Ventures and Mubadala Capital, the asset management subsidiary of Mubadala Investment Company (Mubadala), have co-led a $100 million Series D funding for People.ai, a software platform.
With participation from existing investors including ICONIQ Capital and Lightspeed Venture Partners, the capital raise has brought the platform's valuation to $1.1 billion, according to a recent press release.
The capital will enable People.ai to continue its growth through investments in the company’s SmartData platform and expand into new industry segments and geographies.
People.ai’s SmartData Foundation platform, Artificial Intelligence (AI), SmartMatch, and PeopleGraph identity graph technologies help customers such as AppDynamics, DataRobot, Ivanti, Okta, and Zoom raise the revenues from every sales representative every year.
The Managing Director at Akkadian Ventures, Mike Dinsdale, said: "I have had the privilege to serve as CFO at companies such as DoorDash, DocuSign, and Gusto. Those experiences helped me recognize the hallmarks of companies that fundamentally change the way businesses operate."
Meanwhile, Abdulla AlBanna of Mubadala Capital’s US venture business commented: "By applying breakthrough AI technology to vast data sets, People.ai is significantly improving efficiencies of enterprise processes, increasing productivity and performance across workflows."
