Arteria AI's $30M Series B led by GGV Capital US

Arteria AI, a company established by former Deloitte Canada team members Shelby Austin, Abrar Huq, and Jonathan Wong, is making moves in the management of unstructured data in the financial sector.

• The Issue: The financial world is mired in a sea of unstructured data. Approximately 90% of enterprise data is unstructured, and less than 1% is used to guide decisions. This presents a significant challenge for large-scale enterprises.

• The Solution: Arteria AI, founded in 2020, applies AI technologies to this problem with a particular focus on contract data for institutional finance. The company’s platform structures the data when a contract is drafted automates approval workflow while providing insights into the process, and facilitates decision-making.

• The Impact: Arteria AI has experienced significant growth in customer acquisition, tripling its recurring revenue and gaining major financial institutions as clients, including Goldman Sachs and Citi.

• The Future: Recently, Arteria AI announced a $30M Series B financing round led by GGV Capital U.S. The funds will be used to further develop their AI technology and expand their market reach. Arteria AI is staying nimble, planning to double its team size this year.

• The Differentiator: Unlike other solutions, which traditionally address the unstructured data issue through a legal function, Arteria AI is enabling other business units to understand and use their data in a digital-first approach.

The company anticipates expanding its services across entire banks as more stakeholders understand the value they bring to their operations.