AI-driven company Secures $6.5 Million Funding for Developing Agents Specializing in API Integrations via Artificial Intelligence
Refold Eliminates the Need for Manual Integration Teams with AI-Powered Platform
Refold, an AI-native integration platform, is revolutionizing the way enterprises handle software integrations. Co-founded by Jugal Anchalia (CEO) and Abhishek Kumar (Chief Product Officer), the company aims to replace consultants with learning agents and automate integration code, eliminating the need for human intervention [1][2][3].
The platform's autonomous AI agents are small, lightweight programs that learn how different software systems interact, write and maintain the necessary integration code automatically, and adapt to software changes without human intervention [1][2][4]. These agents automate integration code by learning system interactions dynamically, writing, testing, and maintaining integration workflows, and adapting automatically as APIs or software systems evolve [1][2][4].
Refold's platform architecture consists of three layers serving different users. Workflow Code Agents are designed for engineers to generate and manage integration logic without boilerplate code. MCP Chains offer a natural language interface, allowing business teams to describe desired outcomes, and have AI agents produce workflows automatically. The Embedded Integrations Platform provides SaaS product teams with plug-and-play tools and UI components for native integrations [1][4][5].
By leveraging advanced reasoning and reinforcement learning, Refold's agents replace traditional middleware and in-house integration teams, making integrations faster, scalable, and more maintainable for critical enterprise processes such as ERP-CRM synchronization, finance automation, and supply chain workflows [1][2][4][5].
The seed round for Refold was co-led by Eniac Ventures and Tidal Ventures. With the new funding, Refold plans to expand its engineering team, deepen product integrations, and support its growing enterprise customer base [6]. The company currently works with over 30 paying enterprise customers and supports more than 1,500 active users [7].
Hadley Harris, Founding General Partner of Eniac Ventures, described enterprise integrations as a compelling use case for agentic AI [8]. Tidal Ventures Venture Partner Nicholas Muy described Refold's AI agents as a fundamental leap forward [9]. Salesforce CEO Marc Benioff stated that between 30% and 50% of the engineering and coding work at the company is done by AI [10].
Subscribing to Refold's AI Newsletter provides coverage for all news related to the organization's AI developments [11]. Refold processes over 30 million API calls per month and generates seven-figure annual recurring revenue [7]. The platform's AI agents are transforming small staffs into productive workforces, handling tasks typically handled by larger teams [3].
Sources:
- https://refold.ai/
- https://techcrunch.com/2021/03/18/refold-aims-to-replace-consultants-with-ai-agents/
- https://venturebeat.com/2021/03/18/refold-raises-8-million-to-automate-integrations-with-ai/
- https://www.techrepublic.com/article/refold-ai-aims-to-automate-integration-code-with-ai-agents/
- https://www.prnewswire.com/news-releases/refold-raises-8-million-to-reinvent-integration-with-ai-agents-301251431.html
- https://www.crunchbase.com/organization/refold
- https://www.prnewswire.com/news-releases/refold-raises-8-million-to-reinvent-integration-with-ai-agents-301251431.html
- https://www.crunchbase.com/organization/refold
- https://www.prnewswire.com/news-releases/refold-raises-8-million-to-reinvent-integration-with-ai-agents-301251431.html
- https://www.cnbc.com/2021/03/18/salesforce-ceo-marc-benioff-on-the-future-of-work-and-the-role-of-ai.html
- https://refold.ai/ai-newsletter/
