Skan AI, a Menlo Park-based AI-powered process intelligence platform, has raised $63 million in Series C funding co-led by Cathay Innovation and Dell Technologies Capital. The company observes how work actually gets done across enterprises using computer vision to create a Context Graph of Work, enabling AI agents and automation with real operational data rather than assumptions. The capital will support product development and sales expansion into financial services, insurance, healthcare, and technology.
AI Agents Need Operational Context
The timing aligns with widespread enterprise AI pilot failures. Only 8% of enterprises have AI agents in production, with 95% of early implementations requiring complete redesign. Competitors like Celonis raised over $1.77 billion with a $13 billion valuation in 2022. Mimica secured $26 million in its Series B in September 2025. Skan AI differentiates by observing screen-level activity across all applications without integrations, capturing the 80% of work that occurs between committed states in system logs.
Observation Replaces Documentation Assumptions
Enterprises struggle because documented SOPs and backend logs miss most actual workflows. Skan AI's platform deploys across regulated industries including banking and insurance, where it has secured 7 of the top 10 US banks as customers. One bank deployment showed 11.2 million context switches across 1,500 staff, identifying $37 million in friction and delivering $18 million in annualized savings.
Closed-Loop Platform Captures Full Work Reality
Skan AI built Blueprint for AI deployment planning, Process Intelligence for observation-based discovery, and Agents for automation execution. This addresses gaps in competitors like UiPath, which replays tasks without semantic understanding, and Apromore, now limited to the Salesforce ecosystem after its October 2025 acquisition. The platform runs on NVIDIA AI Enterprise infrastructure.
"Everyone is obsessed with building a better driver. We think the bigger opportunity is building a better navigation system." — Avinash Misra, CEO
Strategic Investors Validate Vertical Traction
The round brings total funding to approximately $120 million. Existing backers including Citi Ventures participated again, while State Farm Ventures and Wipro Ventures joined as strategic investors who were previously customers. Dell Technologies Capital, which led the $40 million Series B in 2022, co-led this round alongside Cathay Innovation, which had led the $14 million Series A in 2021.
Process Intelligence Market Expands Rapidly
The process mining market is projected to grow from $3.82 billion in 2025 to $15.20 billion by 2032. Task mining is expected to reach $12 billion by 2034 at a 34.2% CAGR. Structural drivers include the convergence of process mining with agentic AI and the shift from log analysis to screen-level observation for full operational visibility.
Founders Bring Repeat Experience
Co-founders Avinash Misra and Manish Garg, childhood friends and IIT classmates, are second-time founders whose prior company was acquired by Genpact. Their domain focus on intent extraction from observed work has created a seven-year head start in building semantic models of enterprise operations.
Deployments Drive Agentic Automation
With 100+ enterprise deployments and over $500 million in identified customer savings, Skan AI plans continued expansion in regulated verticals. Recent product launches include the Agentic Ontology of Work framework and general availability of Blueprint and Agents.