2 Sources
2 Sources
[1]
AI agent startup TinyFish raises $47 million in ICONIQ-led round
Aug 20 (Reuters) - AI startup TinyFish has raised $47 million in a Series A funding round led by ICONIQ Capital to scale its platform for building and deploying AI-powered web agents, the company told Reuters. The round included participation from USVP, MongoDB Ventures and Sheryl Sandberg's Sandberg Bernthal Venture Partners. The company plans to use the capital to invest in products and expand its go-to-market operations. Founded in 2024, TinyFish is building web-based agents to automate repetitive and complex online tasks for enterprises. Its technology simulates human-like browsing to perform actions and gather data at a massive scale. The company is initially focusing on the retail and travel sectors. Its primary use cases include dynamic price surveillance, where AI bots track prices, promotions, shipping times, and inventory levels across competitor websites in real-time. These tasks were traditionally handled by large, offshore teams performing manual data entry or by custom software scripts that would often break when a website's design changed. Palo Alto, California-based TinyFish has a team of about 25 people. The new funding provides TinyFish with a runway of three to four years, according to CEO Sudheesh Nair. The AI agent space is experiencing a gold rush, with a flurry of offerings on autonomous software. Big tech companies and startups are racing to capitalize on the shift from static large language models (LLMs) to dynamic agents capable of performing complex, multi-step tasks. TinyFish says its technology could help solve the problem of efficiently and reliably gathering critical data from the dynamic and messy environment of the internet. "If you can turn the internet into analyzable data, it will fundamentally give businesses advantages that others don't have," Nair told Reuters, adding that the goal is to help businesses "make more money," not just save on costs. Its system uses advanced AI models for reasoning and exploration, and then codifies that knowledge for high-speed, deterministic execution at scale, according to Nair. Amit Agarwal, partner at ICONIQ, said the decision to invest was driven by TinyFish's success with early pilot customers, including tech giant Google. "They had operationalized it, productionized it at a very large scale for two large-scale customers who have all the development resources in-house to build these types of things themselves," Agarwal said. Reporting by Krystal Hu; Editing by Stephen Coates Our Standards: The Thomson Reuters Trust Principles., opens new tab
[2]
AI agent startup TinyFish raises $47 million in Iconiq-led round - The Economic Times
Palo Alto, California-based TinyFish has a team of about 25 people. The new funding provides TinyFish with a runway of three to four years, according to CEO Sudheesh Nair.AI startup TinyFish has raised $47 million in a Series A funding round led by Iconiq Capital to scale its platform for building and deploying AI-powered web agents, the company told Reuters. The round included participation from USVP, MongoDB Ventures and Sheryl Sandberg's Sandberg Bernthal Venture Partners. The company plans to use the capital to invest in products and expand its go-to-market operations. Founded in 2024, TinyFish is building web-based agents to automate repetitive and complex online tasks for enterprises. Its technology simulates human-like browsing to perform actions and gather data at a massive scale. The company is initially focusing on the retail and travel sectors. Its primary use cases include dynamic price surveillance, where AI bots track prices, promotions, shipping times, and inventory levels across competitor websites in real-time. These tasks were traditionally handled by large, offshore teams performing manual data entry or by custom software scripts that would often break when a website's design changed. Palo Alto, California-based TinyFish has a team of about 25 people. The new funding provides TinyFish with a runway of three to four years, according to CEO Sudheesh Nair. The AI agent space is experiencing a gold rush, with a flurry of offerings on autonomous software. Big tech companies and startups are racing to capitalise on the shift from static large language models (LLMs) to dynamic agents capable of performing complex, multi-step tasks. TinyFish says its technology could help solve the problem of efficiently and reliably gathering critical data from the dynamic and messy environment of the internet. "If you can turn the internet into analyzable data, it will fundamentally give businesses advantages that others don't have," Nair told Reuters, adding that the goal is to help businesses "make more money," not just save on costs. Its system uses advanced AI models for reasoning and exploration, and then codifies that knowledge for high-speed, deterministic execution at scale, according to Nair. Amit Agarwal, partner at Iconiq, said the decision to invest was driven by TinyFish's success with early pilot customers, including tech giant Google. "They had operationalised it, productionized it at a very large scale for two large-scale customers who have all the development resources in-house to build these types of things themselves," Agarwal said.
Share
Share
Copy Link
AI startup TinyFish raises $47 million in a Series A funding round led by ICONIQ Capital to scale its platform for building and deploying AI-powered web agents, focusing on automating complex online tasks for enterprises.
TinyFish, an AI startup founded in 2024, has successfully raised $47 million in a Series A funding round led by ICONIQ Capital. The funding, which included participation from USVP, MongoDB Ventures, and Sheryl Sandberg's Sandberg Bernthal Venture Partners, aims to scale the company's platform for building and deploying AI-powered web agents
1
2
.Source: Economic Times
TinyFish is developing web-based agents that automate repetitive and complex online tasks for enterprises. The company's technology simulates human-like browsing to perform actions and gather data at a massive scale. Initially, TinyFish is focusing on the retail and travel sectors, with a primary use case in dynamic price surveillance
1
.CEO Sudheesh Nair explained the potential of their technology: "If you can turn the internet into analyzable data, it will fundamentally give businesses advantages that others don't have." He emphasized that the goal is to help businesses "make more money," not just save on costs
1
.The system developed by TinyFish utilizes advanced AI models for reasoning and exploration, subsequently codifying that knowledge for high-speed, deterministic execution at scale. This approach allows for efficient and reliable gathering of critical data from the dynamic and often messy environment of the internet
1
2
.The AI agent space is currently experiencing a gold rush, with both big tech companies and startups racing to capitalize on the shift from static large language models (LLMs) to dynamic agents capable of performing complex, multi-step tasks. TinyFish's technology aims to address the challenge of efficiently gathering and analyzing internet data, providing businesses with a competitive edge
1
2
.Source: Reuters
Amit Agarwal, partner at ICONIQ, cited TinyFish's success with early pilot customers, including tech giant Google, as a key factor in their investment decision. "They had operationalized it, productionized it at a very large scale for two large-scale customers who have all the development resources in-house to build these types of things themselves," Agarwal stated
1
2
.Related Stories
Based in Palo Alto, California, TinyFish currently has a team of about 25 people. The new funding is expected to provide the company with a runway of three to four years, according to CEO Nair. TinyFish plans to use the capital to invest in product development and expand its go-to-market operations
1
2
.TinyFish's AI-powered web agents aim to replace traditional methods of handling online tasks, which often involved large offshore teams performing manual data entry or custom software scripts prone to breaking when website designs changed. By automating these processes, TinyFish's technology offers a more efficient and reliable solution for enterprises
1
2
.As the AI agent space continues to evolve rapidly, TinyFish's innovative approach and significant funding position the company as a potential leader in transforming how businesses interact with and extract value from the internet.
Summarized by
Navi