A British artificial intelligence company which helps customers to map complex corporate transactions is raising millions of pounds to spur its growth from a vehicle backed by one of Italy’s renowned business dynasties.
Sky News understands that Jigsaw, which was founded by Stephen Scanlan and Travis Leon, two former lawyers, will announce on Tuesday that it has secured $15m 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 tech companies including Mistral, one of the world’s hottest AI start-ups.
Jigsaw says it helps clients to create diagrams and images to help clients visualise, design and manage corporate structures at many times the speed of existing software tools such as PowerPoint.
Angel investors from the law firm Linklaters, investment bank Morgan Stanley and private equity firm KKR also participated in the fundraising.
The Jigsaw co-founders previously established XRef, a proofreading software company, which they sold for a reported $10m.
Their latest venture launched three years ago, and is used by big four accountancy firms and major global law firms including Ashurst and Goodwin Procter.
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Employing nearly 150 people, Jigsaw has offices in cities including London, Barcelona and Chicago.
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Mr Scanlan said: “We’ve dedicated ourselves to building products that white-collar professionals deeply value for the creation of corporate structure charts, which are used to map out anything from the ownership of a company to the different stages of complex legal and financial transactions.
“We plan to expand our multi-product line focused on visualising complex transactions into an end-to-end platform that facilitates the management of corporate structures and governance.”
The Growth Stage, which works with technology entrepreneurs on fundraisings and other corporate transactions, advised Jigsaw on the funding round.
