Ferrari-owners Exor to lead £12m funding round for British AI company Jigsaw
Before Jigsaw, the co-founders worked on building XRef, a proofreading software company, which they sold for a reported $10m (£8m).
A venture fund owned by the Italian investment group Exor is reportedly leading a $15m (£12m) series A funding round for British artificial intelligence (AI) startup
Jigsaw, founded by former lawyers Stephen Scanlan and Travis Leon, is set to announce the funding from Exor Ventures tomorrow, according to Sky News.
Exor, which is owned by the billionaire Agnelli family and also owns a majority stake in Ferrari, has been building out its venture arm as it tries to find the stars of tomorrow.
It has previously backed other tech startups, including Multiply Labs and Mistral AI.
Angel investors from law firm Linklaters, investment bank Morgan Stanley and private equity firm KKR are also taking part in the round, which Jigsaw co-founder Scalan said will enable to company to grow its product line.
He said: “We’ve dedicated ourselves to building products that white-collar professionals deeply value for the creation of corporate structure charts, which are used to map out anything from the ownership of a company to the different stages of complex legal and financial transactions.
“We plan to expand our multi-product line focused on visualising complex transactions into an end-to-end platform that facilitates the management of corporate structures and governance.”
Founded three years ago, Jigsaw draws diagrams and images to help users visualise data much faster compared to traditional tools such as Powerpoint. It counts big four accountancy firms and major global law firms including Ashurst and Goodwin Procter among its clients.
Scalan and Leon previously worked on building XRef, a proofreading software company, which they sold for a reported $10m (£8m).
It employs nearly 150 people across global offices in London, Miami, and Singapore.
City A.M. approached Jigsaw and Exor for comment.
