FileAI, a pioneering enterprise artificial intelligence (AI) startup based in Singapore, has announced the successful closure of its $14 million Series A funding round. This round was spearheaded by Illuminate Financial, with participation from Antler Elevate, Insignia, Heinemann Group, and other investors. The latest investment elevates fileAI's total funding to over $20 million, underscoring the growing demand for advanced AI-driven enterprise solutions.

Accelerating AI Innovation for Enterprise Efficiency

FileAI plans to channel the newly secured funds towards enhancing its proprietary AI capabilities, aiming to help businesses significantly reduce back-office expenses while unlocking new efficiencies through AI-powered automation. The company's mission is to transform enterprise operations by addressing the persistent challenge of managing unstructured data—a task that remains a critical bottleneck for many organizations.

“This funding milestone marks a significant step forward in our journey to redefine enterprise automation with AI,” said Christian Schneider, Chief Executive Officer and Co-founder of fileAI. “We’re empowering businesses to transform from within by delivering AI applications that slash operating expenses by up to 90% while boosting the topline by unlocking hidden value in unstructured data.”

The funding will specifically support fileAI's research and development (R&D) efforts, enabling the company to expand its AI-driven file management capabilities. This includes refining its predictive and generative AI models, large language models (LLMs), and agentic workflows to streamline data extraction, organization, and enrichment across diverse file types and documents.

Strong Market Traction Across Key Sectors

FileAI has already demonstrated strong traction globally, particularly in the banking, financial services, and insurance (BFSI) sectors, as well as accounting and manufacturing industries. Its platform is trusted by prominent global enterprises, including MS&AD, MSIG, DirectAsia, Toshiba, KFC, Pizza Hut, and Ernst & Young. The company's solutions have proven effective in automating workflows, reducing operational costs, and enhancing data-driven decision-making processes.

Luca Zorzino, Partner and Head of Asia at Illuminate Financial, emphasized the strategic importance of fileAI's offerings: “FileAI represents the cutting edge of enterprise AI, addressing one of the most persistent challenges businesses face—unstructured data management and scalable AI applications. Our continued investment reflects our confidence in fileAI’s ability to redefine back-office processes, delivering measurable value for enterprises across critical sectors like BFSI and logistics.”

Tackling the Global Challenge of Unstructured Data

The complexity of managing unstructured data is a significant challenge for enterprises worldwide. Research indicates that over 80% to 90% of global content is unstructured, encompassing formats such as PDFs, spreadsheets, emails, and other digital and physical documents. The need to process this data across multiple languages and diverse data structures adds further complexity.

FileAI's platform is designed to address these challenges head-on. With support for over 200 languages, the platform processes more than 200 million files annually. Its proprietary AI models enable businesses to automate the processing of long-form documents, offering advanced capabilities in document comparison, discrepancy detection, data validation, and compliance assurance.

In 2024 alone, fileAI processed and automated over 200 million pages and files, saving its clients an estimated 420,000 hours and more than $7 million in operational costs. This remarkable impact highlights the transformative potential of AI in optimizing enterprise workflows and reducing manual data handling efforts.

Expanding Global Footprint and Future Outlook

With a growing customer base spanning Singapore, Australia, Thailand, Hong Kong, Japan, and the United States, fileAI is well-positioned to scale its operations globally. The company’s latest platform, unveiled in the first quarter after three years of intensive R&D, is tailored for compliance, procurement, legal, and finance sectors. It leverages proprietary file processing models to automate complex workflows, ensuring precision, efficiency, and compliance with both internal and regulatory standards.

“This investment will fuel our R&D and enable us to deliver even greater value to our clients as we unlock unparalleled efficiency with AI,” Schneider added. The company aims to continue its expansion and innovation efforts, further solidifying its position as a leader in enterprise AI solutions.

FileAI's successful Series A funding round marks a pivotal moment in its growth trajectory, reflecting the increasing demand for AI-driven enterprise solutions capable of addressing the complexities of unstructured data management. As the company advances its technology and expands its global footprint, it remains committed to empowering businesses to achieve greater efficiency, cost savings, and data-driven insights through the transformative power of AI.