Skan AI raised $63 million in a Series C round, announced in August 2026 and led by Cathay Innovation and Dell Technologies Capital. The company didn't disclose a valuation for the round, but the raise comes as it scales past 300% year-over-year growth and pushes toward a general availability launch.
Here's the full breakdown of the round, the backers, and what Skan AI plans to build.
What is Skan AI?
Skan AI is an enterprise AI platform that observes how employees actually work in order to build workflow maps, or "context graphs," that ground AI agent deployment in real operational reality rather than assumptions about how a process is supposed to run. Founded in 2018 by Avinash Misra and Manish Garg, the company sells into large enterprises that need to understand their own operations before they can safely automate them.
Skan AI's customers include Unum and Mitie, and the company says its platform is in use at 7 of the top 10 US banks and 1 in 4 Fortune 50 companies. That concentration in banking makes sense given the "context graph" pitch — large financial institutions run some of the most complex, highly regulated back-office workflows of any industry, and getting an AI agent deployment wrong in that setting carries real compliance risk, not just a bad user experience.
The raise: $63M Series C
The headline numbers:
- Amount: $63 million
- Round: Series C
- Valuation: not disclosed
- Announced: August 2026
- Lead investors: Cathay Innovation, Dell Technologies Capital
For context, Skan AI's earlier rounds were also led by its Series C leads: a $14 million Series A led by Cathay Innovation, followed by a $40 million Series B led by Dell Technologies Capital. Both existing lead investors returning to co-lead the Series C is a notable vote of continued confidence from backers who've watched the company's metrics over multiple rounds. It's also a contrast with the headline-chasing pattern common elsewhere in AI funding this year — Skan AI's raise leaned on the same two lead investors across three consecutive rounds rather than bringing in a new marquee name each time, suggesting a steadier, more conviction-driven backing relationship.
Who invested in Skan AI?
The round was led by Cathay Innovation and Dell Technologies Capital, with participation from:
- Citi Ventures
- Bloomberg Beta
- State Farm Ventures
- Wipro Ventures
Citi Ventures and State Farm Ventures — both arms of large financial and insurance institutions — are notable participants given Skan AI's stated customer base already includes a majority of top US banks, suggesting some of these investors may also be customers or prospective customers.
What Skan AI will do with the money
Skan AI says the funding will go toward platform development ahead of a general availability launch, expansion of its Skan AI Agents product, and market scaling to support the company's reported 300% year-over-year growth and 150% net dollar retention.
Net dollar retention above 150% is an unusually strong number — it means existing customers are expanding their spend with Skan AI substantially faster than the company is losing any accounts, which is a big part of why investors are willing to fund a scaling push even without a headline valuation attached. Pushing toward general availability also suggests Skan AI has spent its earlier rounds in a more controlled, enterprise-by-enterprise rollout, and is now ready to sell to a much broader swath of the market at once.
Why it matters
- Skan AI has identified a structural gap in enterprise AI deployment. A recurring reason automation projects fail isn't weak models — it's that teams don't have an accurate picture of how work actually happens. Skan AI's bet is that mapping real workflow behavior first makes every downstream AI agent deployment more reliable.
- The numbers back the thesis. Skan AI says its platform has delivered more than $500 million in verified operational savings, alongside that 150% net dollar retention — rare, concrete proof points in a space often short on measurable ROI.
- Process intelligence is becoming a prerequisite layer for AI agents. As more enterprises deploy AI agents into real workflows, tools like Skan AI that ground those agents in verified operational context are positioned as necessary infrastructure rather than a nice-to-have add-on.
Skan AI's Series C is a sign that enterprise buyers — and their investors — increasingly see workflow understanding as the missing prerequisite for AI agents to work reliably at scale.
Source: Skan AI Raises $63M Series C for Enterprise Workflow Monitoring
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