About Simplifai AI
Simplifai AI is a Technology company based in Norway founded in 2017 by Bard Myrstad and Erik Leung. Conversational AI solutions automate customer request management for businesses. Simplifai AI has raised $3.34 million across 2 funding rounds from investors including Idékapital. Its chief executive, as recorded, is Bard Myrstad. Its Indian entity Simplifai Cognitive Services Private Limited reported revenue of ₹18.69 Cr. Simplifai AI offers products and services including AI Agents, Bodily Injury AI Agent, Motor AI Agent, Travel AI Agent, and DIY AI Agent. Its focus areas include Enterprise Applications, Enterprise Information Management, Enterprise Content Management and Document Management.
Company details
Simplifai AI was founded in 2017 in Norway and operates within the artificial intelligence sector. Conversational AI and chatbot development solutions are provided to enable businesses to automate responses and processes for handling customer requests. The platform incorporates a dashboard for tracking and monitoring conversations. Services focus on streamlining customer interactions across various industries.
- Headquarters Norway
- Founders Bard Myrstad, Erik Leung
- SectorsTechnology
- Email••••••••
- Phone•••• ••••
- Website simplifai.ai
- Social LinkedIn X Facebook Instagram YouTube
- Legal Name Simplifai Cognitive Services Private Limited
- Date of Incorporation 09 Mar, 2018
- Indian entity revenue₹18.69 Cr
FY 2024 · +15% YoY
- Indian entity net profit₹1.82 Cr
FY 2024 · 10% margin
- Indian entity EBITDA₹2.55 Cr
FY 2024 · 14% margin
- Total Equity Funding$3.34M (USD)
in 2 rounds
- Latest Funding Round$2.77M (USD), Series A
May 2024
- Investors
Associated legal entities of Simplifai AI
Simplifai AI operates through Simplifai Cognitive Services Private Limited (active). Its filings, financials, charges and directors are on the company page.
| Legal entity | Status | Incorporated | Registered in | Revenue (FY 2024) | Employees | Directors | Company page |
|---|---|---|---|---|---|---|---|
| Simplifai Cognitive Services Private Limited CIN U74999PN2018FTC175269 | Active | 09 Mar 2018 | Pune, Maharashtra | ₹18.7 Cr | 94 | 4 | View details |
Products & Services of Simplifai AI
Simplifai AI offers a comprehensive portfolio of products and services, including AI Agents, Bodily Injury AI Agent, Motor AI Agent, Travel AI Agent, and DIY AI Agent.
Automates insurance claims and processes for efficiency
Handles reports and legal tasks in insurance claims
Manages details and communications for motor claims
Processes travel claims and improves customer service
Adapts to specific business needs for task automation
Apps and channels of Simplifai AI
its YouTube channel Simplifai has 349 subscribers and 30 videos.
Videos from Simplifai AI
The most watched videos on Simplifai AI's YouTube channel, Simplifai (349 subscribers). Click a video to play it here.
More on Simplifai.
Funding Insights of Simplifai AI
Simplifai AI has successfully raised a total of $3.34M across 2 strategic funding rounds. The most recent funding activity was a Series A round of $2.77 million completed in May 2024. This substantial capital infusion reflects strong investor confidence in the company's business model, growth potential, and market opportunities. The funding enables strategic expansion, product development, market penetration, and operational scaling to drive long-term value creation and competitive advantage.
- Total Funding $3.34M
- Total Rounds 2
- Last Round Series A — $2.77M
- First Round $578,203
(Mar 2020)
- Investors Count 1
All 2 funding rounds of Simplifai AI with amounts and investors; the two latest post-money valuations are shown, the rest are part of the premium plan.
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| May 2024 | $2.77M | Series A | – | – | |
| Mar 2020 | $578,203 | Seed | – | – | – |
1 investors in total: 1 institutional.
Investors in Simplifai AI
Simplifai AI has secured backing from 1 investor, including venture fund investors. Prominent investors backing the company include Idékapital.
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
Venture capital funding is provided to Norwegian tech companies. | idek.no | Oslo, Norway |
Investor details for Simplifai AI
The complete investor list, round-by-round participation and investor portfolios require an active premium plan.
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Board of directors of Simplifai Cognitive Services Private Limited (Simplifai AI)
Simplifai Cognitive Services Private Limited is the primary company behind Simplifai AI. The board of Simplifai Cognitive Services Private Limited currently have 4 directors; the longest-serving is Ho Kwan Leung, appointed in 2018. 1 earlier director has ceased.
| Director | Designation | Appointed | Tenure | Entity |
|---|---|---|---|---|
| Ho Kwan Leung DIN 08082391 | Director | 09 Mar 2018 | 8 yrs 7 mo | Simplifai Cognitive Services Private Limited |
| Imran Rajjak Tamboli DIN 08082392 | Director | 09 Mar 2018 | 8 yrs 7 mo | Simplifai Cognitive Services Private Limited |
| Bard Hammernes Myrstad DIN 08082390 | Director | 09 Mar 2018 | 8 yrs 7 mo | Simplifai Cognitive Services Private Limited |
| Vasim Saheblal Shaikh DIN 08054144 | Director | 09 Mar 2018 | 8 yrs 7 mo | Simplifai Cognitive Services Private Limited |
People of Simplifai AI
23 people are tracked at Simplifai AI (6 in leadership, 3 in board & advisors, 14 in team).
| Name | Role | Group |
|---|---|---|
| Co-Founder & CEO | Leadership | |
Erik Leung | Co-Founder & COO | Leadership |
Rishikesh Kulkarni | Head Of Products | Leadership |
Bikash Agrawal | Head, R&D | Leadership |
Ketan Vijayvargiya | Head Of Engineering | Leadership |
Even Birkedal | Sales Director | Leadership |
Pål Njølstad | Director | Board & advisors |
Øivind Horpestad | Director | Board & advisors |
Patrik Egeland | Director | Board & advisors |
Mansi Vegad | Sr. UI UX Designer | Team |
Yash Jagtap | AI Trainer | Team |
Rajit Yadav | QA Lead | Team |
Oleksandr Iatsyshyn | Lead Data Scientist | Team |
Niyaz Ahmad | AI Trainer -arabic | Team |
Harsh Kumar | Data Scientist | Team |
Anang Raj | Data Scientist | Team |
Omkar Kakde | Frontend Developer | Team |
Pratik Misal | Sr. Frontend Developer | Team |
Bogdan Malizhev | Frontend Technical Lead | Team |
Nilesh Rahinj | Software Developer | Team |
3 more people are available in the full profile.
Complete people profiles for Simplifai AI
Full employee and board profiles, team structure, tenure and professional contact details require an active premium plan.
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Financials of Simplifai AI
Figures of Simplifai Cognitive Services Private Limited, the primary company behind Simplifai AI, for FY 2024. Revenue was ₹18.69 Cr (+15% year on year). Net profit was ₹1.82 Cr (10% margin). EBITDA was ₹2.55 Cr (14% margin). Revenue has grown at a compounded annual rate of +42% over three years and +54% over five years.
- ₹18.69 CrRevenue · FY 2024 · +15% YoY
- ₹1.82 CrNet profit · 10% margin
- ₹2.55 CrEBITDA · 14% margin
- ₹5 LakhPaid-up capital
- 94Employees (provident fund records)
- +42%Revenue CAGR, 3 years
- +54%Revenue CAGR, 5 years
Balance sheet, profit and loss, cash flow and ratios of Simplifai Cognitive Services Private Limited are on its company page.
Detailed financial statements for Simplifai AI
Statement rows, ratios, five-year trends and downloadable financials of the group companies require an active premium plan.
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Timeline of Simplifai AI
3 dated milestones of Simplifai AI across 7 years, from founding to its latest funding, stage changes and deals.
- Founded Simplifai AI is founded.
- Funding First funding round of $578K.
- Funding Latest funding round, Series A, of $2.8M.
Web traffic of Simplifai AI
The website of Simplifai AI (simplifai.ai) receives about 3.5K visits a month.
- Monthly visits3.5K
▼ 20% vs previous month
Websites whose visitors overlap most with Simplifai AI. Affinity shows how closely the audiences match.
| Website | Domain | Audience affinity | Monthly visits | Global rank | Profile |
|---|---|---|---|---|---|
| tovie.ai | 100% | 7.4K | #2,364,390 | View details | |
| beam.ai | 78% | 134.2K | #304,202 | View details | |
| mendix.com | 78% | 509.2K | #76,879 | View details | |
| vodex.ai | 73% | 15.8K | #1,910,285 | View details | |
| floatbot.ai | 70% | 17.8K | #1,554,662 | View details | |
| •••••••••• | ••••••.com | ••% | •.•M | #••••• | – |
| •••••••••• | ••••••.com | ••% | •.•M | #••••• | – |
| •••••••••• | ••••••.com | ••% | •.•M | #••••• | – |
All 12 similar websites and full traffic analytics for Simplifai AI
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- 12 similar websites
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Related news about Simplifai Ai
Complete news archive for Simplifai AI
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Frequently Asked Questions about Simplifai AI
Simplifai AI was founded in 2017 and raised its 1st funding round 3 years after it was founded.
Simplifai AI is headquartered in Norway.
Bard Myrstad is the CEO of Simplifai AI, as recorded in our data. They have also founded this company.
Simplifai AI is a funded company, having raised a total of $3.34M across 2 funding rounds to date. The company's 1st funding round was a Seed of $578.2K, raised on Mar 2020.
The primary company behind Simplifai AI, Simplifai Cognitive Services Private Limited, reported revenue of ₹18.69 Cr for FY 2024, up 15% year on year.
Simplifai AI was founded in 2017 in Norway and operates within the artificial intelligence sector. Conversational AI and chatbot development solutions are provided to enable businesses to automate responses and processes for handling customer requests. The platform incorporates a dashboard for tracking and monitoring conversations. Services focus on streamlining customer interactions across various industries.
Simplifai AI offers AI Agents, Bodily Injury AI Agent, Motor AI Agent, Travel AI Agent, and DIY AI Agent.
Simplifai AI has 1 investor. Key investors include Idékapital.
Simplifai AI operates through Simplifai Cognitive Services Private Limited.
The legal entities of Simplifai AI currently have 4 directors, including Ho Kwan Leung, Imran Rajjak Tamboli, Bard Hammernes Myrstad and others.