A British artificial intelligence company that helps clients map complex business transactions is raising millions of pounds to fuel its growth from a vehicle backed by one of Italy’s renowned business dynasties.
Sky News understands that Jigsaw, founded by Stephen Scanlan and Travis Leon, two former lawyers, will announce on Tuesday that it has secured $15 million in Series A funding.
The round is being led by Exor Ventures, which is part of the Agnelli family’s business empire and which has backed technology companies including Mistral, one of the world’s most prominent AI startups.
Jigsaw claims it helps customers create diagrams and images to help them visualize, design and manage corporate structures at many times the speed of existing software tools such as PowerPoint.
Angel investors from law firm Linklaters, investment bank Morgan Stanley and private equity firm KKR also participated in the fundraising.
Jigsaw’s co-founders previously founded XRef, a proofreading software company, which they sold for about $10 million.
Its latest venture was launched three years ago and is used by four major accounting firms and major global law firms, including Ashurst and Goodwin Procter.
Employing around 150 people, Jigsaw has offices in cities including London, Barcelona and Chicago.
Scanlan said, “We are dedicated to building products that white-collar professionals deeply value for creating corporate structure charts, which are used to map anything from the ownership of a company to the different stages of legal processes. and complex financial transactions.
“We plan to expand our multi-product lineup focused on visualizing complex transactions on an end-to-end platform that facilitates the management of corporate structures and governance.”
Growth Stage, which works with technology entrepreneurs on fundraising and other corporate transactions, advised Jigsaw on the financing round.
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