Singapore’s fileAI raised $14 M Series A funding from Illuminate Financial, Antler Elevate, others
The enterprise artificial intelligence (AI) startup FileAI, based in Singapore, revealed that it had secured $14 million in Series A funding.
The company’s total funding raised to date is just over $20 million, according to a statement from fileAI, which was led by returning enterprise solution investors Illuminate Financial, Antler Elevate, Insignia, Heinemann Group, and others.
The funding, according to the statement, will expedite FileAI’s objective to improve its proprietary A capabilities as it becomes the solution for businesses looking to save millions of dollars on their back-office costs while leveraging AI to unlock new efficiency.
With significant global traction in the manufacturing, accounting, and financial services and insurance (BFSI) industries, the funds will support product development to expand their knowledge of AI file management.
“This funding milestone marks a significant step forward in our journey to redefine enterprise automation with AI,” said Christian Schneider, Chief Executive Officer and Co-founder of fileAI.
“We’re empowering businesses to transform from within by delivering AI applications that slash operating expenses by up to 90 percent while boosting the topline by unlocking
hidden value in unstructured data,
“This investment will fuel our research and development (R&D) and enable us to deliver even greater value to our clients as we unlock unparalleled efficiency with AI,” he added.
According to Luca Zorzino, Partner and Head of Asia at Illuminate Financial, fileAI is the state-of-the-art in enterprise AI, solving scalable AI applications and unstructured data management, two of the most enduring problems that businesses encounter.
“Our continued investment reflects our confidence in fileAI’s ability to redefine back-office processes, delivering measurable value for enterprises across critical sectors like banking, financial services and insurance (BFSI) and logistics,
“We are excited to support their expansion and innovation as they scale their impact globally,” he added.
Using cutting-edge AI, FileAI is a platform that automates unstructured data processing at scale, making it easier to extract, organize, and enrich data across all document types.
Singapore, Australia, Thailand, Hong Kong, Japan, and the United States are just a few of the many places where the company has clients.
The platform is utilized by multinational corporations such as Ernst & Young, KFC, Pizza Hut, DirectAsia Toshiba, MS&AD, and MSIG.
Over 200 million files are processed by fileAI each year, and it supports more than 200 languages.
According to cited research, between 80 and 90 percent of the world’s content is unstructured, making it difficult for businesses to handle enormous volumes of data in a variety of formats, such as spreadsheets, emails, portable document formats (PDFs), and other unstructured formats.
The requirement to process data from various languages, structures, and data sources—both digital and physical—adds even more complexity.
With a proprietary combination of large language models (LLMs), agentic workflows, and predictive and generative AI, FileAI addresses these problems and makes file processing and workflow integration smooth.
Over 200 million pages have been processed and automated by fileAI in 2024 alone, saving its clients an estimated 420,000 hours and over $7 million in expenses.
Its solutions cover a wide range of sectors, including manufacturing, insurance, accounting, and financial services.
