Swedish startup Pit has secured a $16 million seed round led by Andreessen Horowitz (a16z), with co-founders Fredrik Hjelm and Adam Jafer at the helm. The company aims to automate enterprise processes using AI, creating custom software that learns from clients' businesses and identifies areas for improvement.
Pit's CEO Adam Jafer left Voi, a European scooter giant he co-founded, last summer after seven years. He saw an opportunity to leverage matured AI technology in the enterprise sector, initially planning to replace low-hanging SaaS tools with in-house apps. However, he soon envisioned a broader opportunity beyond that.
Pit is entering a crowded market but differentiates itself by offering an "AI product team as a service," relying on two pillars: Pit Studio, which guides employees through processes that can be handled by AI-generated software; and Pit Cloud, which provides this software while meeting enterprise requirements on governance, certifications, and auditability.
