Swedish AI startup Sana has recently raised $55 million in funding at a valuation of $500 million to scale its operations in the United States. The company was founded in 2016 by Joel Hellermark with the goal of using artificial intelligence to create personalized workplace training plans. Now, Sana is focusing on integrating its AI technology into internal databases and business apps to streamline repetitive tasks for office workers.
The company’s latest move was the creation of a free version of its AI agent, allowing users to draft emails, take meeting minutes, and complete simple forms. This strategy has resulted in around 100,000 new workplaces signing up for the free tier, with larger teams paying $30 per user per month for additional features. Sana’s goal is to cater to the next billion AI users by providing a user-friendly interface that simplifies the use of AI assistants.
Sana’s recent funding round, led by venture capital fund NEA, brings its total funding to over $130 million, making it one of Europe’s best-funded AI startups. The company is competing with the likes of Microsoft’s Copilot tool and other startups focused on automating tasks for specific industries. Hellermark believes that Sana’s ability to bridge multiple software tools and integrate with a company’s existing data will set it apart from the competition.
The company’s revenue currently exceeds $20 million annually, but it is not yet profitable. Despite this, NEA’s executive chairman, Scott Sandell, believes in the power of the company’s free tier business model and sees immense growth potential for Sana in the future. The company is focused on becoming the user interface layer for AI, allowing companies to easily access and utilize their internal data across multiple platforms.
In addition to its recent funding round, Sana has also made strategic acquisitions, such as purchasing Tel Aviv-based AI agent startup CTRL and hiring experienced professionals from companies like Google and Apple. These moves, along with the company’s focus on Scandinavian design principles, will enable Sana to expand its reach and help companies transition from using a few internal AI use cases to thousands. With a clear path to becoming a leader in enterprise software, Sana is poised for significant growth in the coming years.
