Distyl AI, a startup applying generative AI to enterprise workflows, has raised a new Series A funding round of $20 million, Business Insider has learned. The new round values the startup at least $200 million, two sources familiar said.
Existing investor Coatue participated in the funding round, according to two sources familiar.
Founded in 2022, the company raised a $7 million seed round last April, reported VentureBeat. Coatue and Dell Technologies Capital led the round, which also included former GitHub CEO Nat Friedman and Altimeter founder and CEO Brad Gerstner.
Distyl AI and Coatue did not respond to requests for comment.
Distyl AI develops AI-assisted workflows for enterprise. Deploying AI across key enterprise use cases can be difficult, CEO Arjun Prakash told VentureBeat. “These processes often involve multiple stakeholders, diverse data sources, intricate logic systems, various user groups and sophisticated security policies,” he added.
The startup addresses these challenges by designing AI solutions that meet customers’ specific data needs and smoothly integrate them into their existing workflows. Additionally, Distyl AI conducts thorough testing to ensure that AI systems are reliable and scalable.
The company targets Fortune 100 companies in sectors such as consumer packaged goods, retail, insurance, healthcare, and manufacturing, according to its website. Distyl AI also has a strategic partnership with OpenAI for access to its research and infrastructure, VentureBeat reported.
Prakash previously served as the head of solutions at Snorkel AI, a data labeling unicorn. Before that, he spent eight years at Palantir, where he overlapped with Derek Ho, Distyl AI’s cofounder and COO. Other members of the Distyl AI team have previously worked at Apple and Microsoft.
Venture funding is pouring into enterprise AI. Glean AI, for example, raised $260 million at a $4.6 billion valuation co-led by Altimeter Capital and DST Global in September, reported Fortune. Decagon raised $35 million from Accel and Andreessen Horowitz in June to build AI agents for customer support, while Sybill AI raised a $11 million Series A from Greycroft Capital to automate sales reps’ workflows.
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