BackboneAI, a NYC-based intercompany data automation platform, raised $4.7m in seed funding.
The round was led by Fika Ventures with participation from Boldstart Ventures, Cendana Capital, Dynamo Ventures, GGV Capital, MetaProp, Spider VC, and several notable angel investors. In conjunction with the funding, Eva Ho, general partner of Fika Ventures, joined as a BackboneAI board member along with Jeffrey Leventhal, a partner at BOLDstart Ventures.
The company intends to use the funds to expand operations and its business reach.
Founded in 2019 by Rob Bailey, CEO, and incubated with Boldstart, BackboneAI builds data networks through intercompany automation, a completely new category of automation. Specifically built for data collection within and between organizations, the system makes supplier and customer data smarter by using artificial intelligence to integrate product data from a wide range of sources, both within and beyond a company. The platform can be configured and deployed within a few weeks. Based upon early indicators, BackboneAI is on track for rapid market adoption across Fortune 500 and mid-size companies in categories ranging from automotive to retail to food supply chains and entertainment.