Skan, a San Jose, Calif.-based AI-enabled Process Discovery and Operational Intelligence company, closed a $14m Series A funding.
The round was led by Cathay Innovation with participation from Citi Ventures and existing investors, Zetta Ventures, Bloomberg Beta, Plug and Play Ventures, and Firebolt Ventures. In conjunction with the funding, Simon Wu of Cathay Innovation will join Skan’s board of directors.
The company intends to use the funds to strengthen its product platform and scale operations.
Co-founded by serial entrepreneurs and digital transformation veterans Avinash Misra and Manish Garg, Skan is an enterprise process discovery and monitoring platform for enterprises. Its Operational Intelligence Platform provides cognitive process discovery and real-time process insights for financial services, healthcare, and media organizations to understand, map, and plan their digital transformation and automation efforts.
Combining Process Data Science and Computer Vision, Skan synthesizes the digital traces of all human and screen interactions to surface how work and processes such as underwriting, sales, customer onboarding, servicing, claims, invoicing, and fulfillment get done in an organization.
Customers include large enterprises collectively investing billions of dollars in digital transformation endeavors with limited ROI.