Sana Lands $28M Additional Funding to Build AI-driven Learning Platform for Enterprises
Swedish AI-powered learning platform Sana has raised $28 million in n an opportunistic investment round led by NEA.
The company wasn’t looking for funding when NEA made its proactive offer.
With a combined total of $62 million in Series B funding, the Swedish-born scaleup is now one of the most highly funded AI companies in Europe.
Sana, a Swedish AI-powered learning and knowledge platform, announced today that it has landed an additional $28 million in an opportunistic investment round led by global venture capital firm NEA. Workday Ventures also joined the round.
The new capital brings Sana’s Series B funding to a combined total of $62 million, making the Swedish-born scaleup one of the most highly funded AI companies in Europe. To date, Sana has raised more than $85 million.
With the additional funding, Sana will continue growing its product development and commercial teams across Stockholm, London, and New York offices. Its headquarters will remain in Stockholm, where founder and CEO Joel Hellermark started the company at age 19.
Sana aims to augment human intelligence through artificial intelligence. Last year, Sana leveraged generative AI to launch Sana AI, the company’s latest release of tools.
It includes Sana Assistant and Universal Search. The former can generate course questions, explanations, images, and even entire courses by combining learning content with knowledge from the internet, while the latter enables users to search all their company’s apps, from Word documents and emails to messages, slides, and spreadsheets, to answer every question.
Sana AI can also generate real-time summaries of live meetings and create entire learning courses from scratch and write SQL to query data.
“At Sana, we believe every organization’s mission depends on the collective intelligence of its employees. That intelligence depends on knowledge, yet most institutional knowledge today is scattered across multiple tools, trapped in people’s minds, and lost in verbal conversations. AI is the key to solving this problem at scale. By unlocking knowledge for every employee across any organization, we unlock global progress,”said Joel Hellermark, founder and CEO of Sana.
Sana said it wasn’t looking for funding when NEA made its proactive offer, having closed a $34M Series B round led by Menlo Ventures last December. The additional investor interest came as Sana reported a threefold business growth year over year.
Following the new investment, NEA CEO Scott Sandell and Managing Director Philip Chopin will join Sana’s board of directors. Since joining NEA in 1996, Sandell has played a role in many industry-transforming businesses, including Robinhood, Salesforce, Tableau Software, and Workday.
In January, NEA closed on approximately $6.2 billion across two funds. One is dedicated to early-stage investing, and the other will focus on venture growth-stage opportunities. As of Dec 31 last year, NEA has over $25 billion in assets under management.
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