The new financing, announced Tuesday (Sept. 16), brings the company’s total funding to $144 million and will be used to invest in Invisible’s core AI software platform.
A report by Bloomberg News, citing sources familiar with the matter, says the new funding values Invisible at $2 billion.
“I have spent the last decade experiencing both the promises and limitations of enterprise AI, driven by the fact that 70% of the software in the world is over 20 years old,” CEO Matthew Fitzpatrick said in a news release.
“Despite the recent excitement, most enterprises are still struggling to get AI models into production and to quantify ROI. Invisible changes that. Our software platform, combined with our expert marketplace, enables companies to organize, clean, label, and map their data. This foundation enables them to build agentic workflows that drive real impact.”
The release notes that Invisible was named the number two fastest growing AI companies on the 2024 Inc. 5000 List. The firm’s revenue more than doubled from 2023 to 2024, reaching $134 million, following a 24-fold increase between 2020 and 2023.
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The company’s platform includes components such as “Neuron,” which the company says provides “flexible data infrastructure to integrate and transform structured and unstructured data,” and “Axon,” which employs “agentic automation to orchestrate tasks and decisions across systems.”
The funding round comes at a time of increased focus on agentic AI, a topic that “is filled with gigabytes worth of opportunities and challenges,” as PYMNTS wrote Tuesday.
“Even since summer’s end (just two weeks ago) this space has had its share of urgent developments, technical advancements and other innovations. All of which reinforce the momentum behind agentic AI,” the report added.
Meanwhile, recent PYMNTS Intelligence research finds that despite all the attention centered on Gen Z’s comfort with AI, it’s millennials who are using the technology at work. This embrace, PYMNTS wrote last week, shows how AI is moving from novelty to utility.
The research shows that 52% of millennials use gen AI for work, the highest of any generation, while 61% report that gen AI helps them accomplish more, faster.
“More than 70% of millennial users are highly satisfied with gen AI tools — more than any other generation,” PYMNTS added. “Only 6.5% report low satisfaction, suggesting that their adoption is not just frequent, but confident.”
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