Sana – a leading AI-powered learning and knowledge platform – announced recently that it has raised another $28 million in an opportunistic investment round led by NEA. And Workday Ventures also joined the round. With a combined total of $62 million in Series B funding, the Swedish-born scaleup is now one of the most highly funded AI companies.
Sana’s goal is to augment human intelligence through artificial intelligence. And to that end, the company has built a category-defining product that blends the best of enterprise search, a learning management system, meeting tools, and a knowledge management system into one single platform.
Underpinning this suite of tools is Sana AI, which is the company’s latest release. Sana AI is known as an omnipresent assistant that can do everything from search across all your company’s apps and take actions in response to natural language commands to generating real-time summaries of live meetings and creating entire learning courses from scratch and writing SQL to query your data. Essentially it is like ChatGPT for your company’s knowledge.
By augmenting an organization’s ability to capture, organize, and access knowledge at every step through artificial intelligence, Sana enables any team to move faster and be more productive—from sales and customer support teams to product specialists and software engineers.
Sana was not looking for funding when NEA made its proactive offer. And the scaleup had a healthy runway having closed a $34 million Series B round led by Menlo Ventures last December. One of the reasons for the additional investor interest is due to commercial performance: Sana has grown its business 3x year over year.
NEA will be represented on Sana’s board by CEO Scott Sandell and Managing Director Philip Chopin. And since joining NEA in 1996, Sandell has played a critical role in many industry-transforming businesses, including Robinhood, Salesforce, Tableau Software, and Workday.
Along with Sana’s commercial growth and ambitious team, NEA was impressed by the level of customer advocacy. This platform is used by an impressive client roster of market-leading companies like Merck, Kry/Livi, and Svea Solar—all of whom praise Sana’s superior user experience and product velocity.
With the additional funding round, Sana will continue expanding its product development and commercial teams across Stockholm, London, and New York offices. And Sana’s headquarters will remain in Stockholm where founder and CEO Joel Hellermark founded the company at age 19, six years after teaching himself to code in C.
KEY QUOTES:
“At Sana, we believe every organization’s mission depends on the collective intelligence of its employees. That intelligence depends on knowledge, yet most institutional knowledge today is scattered across multiple tools, trapped in people’s minds, and lost in verbal conversations. AI is the key to solving this problem at scale. By unlocking knowledge for every employee across any organization, we unlock global progress. We’re thrilled to have the support from NEA and strategic investors like Workday Ventures on this mission.”
— Joel Hellermark, Founder and CEO of Sana
“Sana’s past track record and current trajectory are exceptional. Thanks to top talent, bold vision, and rare organizational alignment, we believe they’ve already built a world-class learning and knowledge platform. But what excites us most is where Sana is going next: indexing every form of an organization’s functional data through LLMs to become the de-facto AI platform for the enterprise. The use cases for this type of product are endless.”
— Scott Sandell, CEO at NEA
“Since day one, we’ve been amazed at Sana’s pace of innovation and commitment to addressing customer feedback. The platform is more than a tool—it’s become Svea Solar’s home for learning and knowledge. We see the latest iteration of Sana AI as a productivity game-changer.”
— Hanna Manberg, CHRO at Svea Solar
“Joel is an exceptional founder. This Series B extension is a testament to his technical and commercial prowess and visionary leadership. As we enter the new age of artificial intelligence, we believe the Sana team is well positioned to become one of the world’s most successful and impactful AI companies.”
— Philip Chopin, Managing Director at NEA UK
