Nebuly raises $21M Series A to turn AI investments into measurable results

Nebuly, a platform that helps enterprises measure the business value of their AI agents, has raised $21 million in a Series A funding round led by Planven. The round included participation from Exor Ventures, Tenacity Capital, TGVG Capital and Fastweb+Vodafone (via Founders Factory), alongside returning investors and angel investors. CDP Venture Capital SGR also supported the round through its Digital Transition Fund, backed by the European Union's NextGenerationEU programme.

As businesses increase their investment in artificial intelligence, measuring its impact on productivity, operational efficiency and revenue has become an important challenge. While AI agents are increasingly used to support employees, handle customer enquiries and automate everyday tasks, many organisations still struggle to determine the returns on these investments.

The challenge is particularly complex for enterprises using AI agents from multiple providers alongside internally developed solutions. Traditional metrics, such as the number of users, prompts or responses, provide insight into adoption but do not necessarily show whether AI is saving time, improving workflows or generating additional revenue.

Nebuly addresses this gap through a platform that analyses how AI agents are used across an organisation, bringing together data from employee-facing tools and customer-facing assistants to measure their business impact.

For internal AI applications, the platform evaluates efficiency gains, including time saved and additional capacity, as well as new tasks that employees can perform with AI assistance. It also identifies how different teams use AI, whether it is being applied to high-value activities and where additional training could improve its effectiveness.

For customer-facing AI assistants, Nebuly measures AI-influenced revenue and identifies potential customer churn risks and upselling opportunities. The platform also allows leadership and finance teams to review and adjust the assumptions behind its calculations.

Every enterprise is about to face the same question from its board: what is AI actually worth to us? Nebuly exists to answer it.
Until now, companies have measured AI by counting users, prompts and responses, which has fueled the recent rise of ‘tokenmaxxing’, where usage itself becomes the goal. None of that tells you whether an employee got an hour of work back or a customer got the answer they needed. Companies are now making decisions about hiring and headcount based on assumptions about AI productivity, not evidence. Decisions of that weight need real data,

said Francesco Signorato, co-founder and CEO of Nebuly.

Nebuly integrates with existing enterprise AI systems, including custom-built tools and assistants based on Claude, ChatGPT and Microsoft Copilot. Its models analyse agent behaviour at scale and can operate on-premises or within a customer's private cloud, allowing organisations to process enterprise data without sending it to external model APIs.

With the new funding, Nebuly plans to expand its go-to-market team across the United States and Europe and further develop its platform to support enterprises in measuring the business value of AI.