AI-powered enterprise SaaS company BUSINESSNEXT has raised $40 Mn (around ₹386 Cr) in its Series C round from ServiceNow Ventures at a valuation of $700 Mn. As part of the investment, the US-based enterprise software company’s venture arm has acquired a 5% stake in BUSINESSNEXT.
The Delhi NCR-headquartered startup said it will deploy the fresh capital to accelerate agentic AI-led autonomous banking operations, develop private AI systems, and expand its international footprint, particularly in Australia and New Zealand.
As part of the partnership, BUSINESSNEXT will also integrate ServiceNow’s AI platform, including AI Control Tower, with its products to help banks deploy and manage AI agents while maintaining governance and observability.
Founded in 2001 by Nishant Singh and Bidhan Chaudhary, BUSINESSNEXT offers software solutions to banks, insurers and other financial institutions to manage customer relationships, digital journeys, lending, service operations and AI-powered workflows.
Its agentic AI offerings enable financial institutions to automate tasks such as loan processing, document verification, approval routing, customer follow-ups, compliance checks and service request resolution.
The company claims to serve more than 120 financial institutions across domestic and international markets, including HDFC Bank, State Bank of India, Kotak Mahindra Bank, Arab Bank and the Reserve Bank of India. It also says its platform serves more than 1 Mn users across 75,000-plus branches, reaching over 1 Bn end customers globally.
According to Tofler, BUSINESSNEXT reported operating revenue of ₹265.3 Cr in FY25, up from ₹256.8 Cr in FY24. It also posted a net profit of ₹4.6 Cr during the year, compared with a net loss of ₹14.7 Cr in FY24.
In the banking technology market, BUSINESSNEXT competes with enterprise software providers such as Salesforce Financial Services Cloud, Microsoft Dynamics 365, FIS, Temenos and Pegasystems.
The development comes amid growing investor appetite for AI-native enterprise software companies serving regulated sectors such as banking and insurance. In recent months, several Indian SaaS startups have doubled down on AI-led offerings, with companies such as Freshworks, Whatfix and Perfios expanding their AI capabilities to automate enterprise workflows and decision-making.
The funding also reflects the broader shift among Indian SaaS companies towards AI-led enterprise offerings. Freshworks has repositioned itself as an AI-first software company by integrating Freddy AI across its product suite and launching industry-specific AI agents, while other SaaS startups such as Whatfix and Perfios have expanded their AI capabilities to automate enterprise workflows and decision-making.
The post SaaS Company BUSINESSNEXT Raises $40 Mn At $700 Mn Valuation appeared first on Inc42 Media.
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