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Swedish scaleup becomes one of Europe’s most highly-funded AI companies with $62M in total Series B funding

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Sana, an AI-powered learning and knowledge platform headquartered in Stockholm, has successfully secured an impressive $28 million in a recent investment round. The funding was led by NEA, and received additional support from Workday Ventures. With this latest injection of capital, Sana’s Series B funding has now reached an impressive total of $62 million, solidifying its position as one of the most well-funded AI companies in the industry. The newly acquired funds will play a pivotal role in Sana’s continued growth and development. The company plans to allocate the investment towards enhancing its product offerings, driving further innovation, and expanding its team with top-notch talent.

Sana empowers organizations by providing them with the tools they need to discover, collaborate, and effectively utilize knowledge in order to accomplish their goals. The platform’s approach enables businesses to tap into a wealth of information and expertise, facilitating seamless knowledge sharing and harnessing the power of AI technology to unlock new possibilities.

Sana’s mission is to augment human intelligence through artificial intelligence. To that end, the company has built a category-defining product that blends the best of enterprise search, a learning management system, meeting tools, and a knowledge management system into one single platform.

Underpinning this suite of tools is Sana AI, the company’s latest release. Sana AI is an omnipresent assistant that can do everything from search across all your company’s apps and take actions in response to natural language commands to generating real-time summaries of live meetings and creating entire learning courses from scratch, and writing SQL to query your data. In other words, it’s like ChatGPT for your company’s knowledge.

By augmenting an organization’s ability to capture, organize, and access knowledge at every step through AI, Sana enables any team to move faster and be more productive—from sales and customer support teams to product specialists and software engineers.

“At Sana, we believe every organization’s mission depends on the collective intelligence of its employees. That intelligence depends on knowledge, yet most institutional knowledge today is scattered across multiple tools, trapped in people’s minds, and lost in verbal conversations. AI is the key to solving this problem at scale. By unlocking knowledge for every employee across any organization, we unlock global progress,” said Joel Hellermark, founder and CEO of Sana. “We’re thrilled to have the support from NEA and strategic investors like Workday Ventures on this mission.”

Sana wasn’t looking for funding when NEA made its proactive offer. The scaleup had a healthy runway having closed a $34m Series B round led by Menlo Ventures last December. One of the reasons for the additional investor interest is commercial performance: Sana has grown its business 3x year over year.

NEA will be represented on Sana’s board by CEO Scott Sandell and Managing Director Philip Chopin. Since joining NEA in 1996, Sandell has played a critical role in many industry-transforming businesses, including Robinhood, Salesforce, Tableau Software, and Workday.

“Sana’s past track record and current trajectory are exceptional. Thanks to top talent, bold vision, and rare organizational alignment, we believe they’ve already built a world-class learning and knowledge platform. But what excites us most is where Sana is going next: indexing every form of an organization’s functional data through LLMs to become the de-facto AI platform for the enterprise. The use cases for this type of product are endless,” said Scott Sandell, CEO at NEA.

In addition to Sana’s commercial growth and ambitious team, NEA was impressed by the level of customer advocacy. The platform is used by an impressive client roster of market-leading companies like Merck, Kry/Livi, and Svea Solar—all of whom praise Sana’s superior user experience and product velocity.

“Since day one, we’ve been amazed at Sana’s pace of innovation and commitment to addressing customer feedback. The platform is more than a tool—it’s become Svea Solar’s home for learning and knowledge. We see the latest iteration of Sana AI as a productivity game-changer, ” said Hanna Manberg, CHRO at Svea Solar.

With the additional funding, Sana will continue expanding its product development and commercial teams across Stockholm, London, and New York offices. Sana’s headquarters will remain in Stockholm, where founder and CEO Joel Hellermark founded the company aged 19, six years after teaching himself to code in C.

“Joel is an exceptional founder. This Series B extension is a testament to his technical and commercial prowess and visionary leadership. As we enter the new age of artificial intelligence, we believe the Sana team is well positioned to become one of the world’s most successful and impactful AI companies,” said Philip Chopin, Managing Director at NEA UK.

Click to read more funding news.

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Nurcin Metingil
Nurcin Metingil
A permanent student, a passionate first reader and nowadays doing master’s degree in Publishing Management. Beside these, I am up for games! I have been playing games since I was 6. Now, I am whispering "Business. Business. Numbers. Is this working?"

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