AI startup TinyFish has raised $47 million in a Series A funding round led by ICONIQ Capital to scale its platform for building and deploying AI-powered web agents, the company informed Reuters.
The round included participation from USVP, MongoDB Ventures and Sheryl Sandberg’s Sandberg Bernthal Venture Partners. The company plans to utilize the capital to invest in products and expand its go-to-market operations.
Founded in 2024, TinyFish is building web-based agents to automate repetitive and complex online tinquires for enterprises. Its technology simulates human-like browsing to perform actions and gather data at a massive scale.
The company is initially focutilizing on the retail and travel sectors. Its primary utilize cases include dynamic price surveillance, where AI bots track prices, promotions, shipping times, and inventory levels across competitor websites in real-time.
These tinquires were traditionally handled by large, offshore teams performing manual data enattempt or by custom software scripts that would often break when a website’s design alterd.
Palo Alto, California-based TinyFish has a team of about 25 people. The new funding provides TinyFish with a runway of three to four years, according to CEO Sudheesh Nair.
The AI agent space is experiencing a gold rush, with a flurry of offerings on autonomous software. Big tech companies and startups are racing to capitalize on the shift from static large language models (LLMs) to dynamic agents capable of performing complex, multi-step tinquires.
TinyFish states its technology could assist solve the problem of efficiently and reliably gathering critical data from the dynamic and messy environment of the internet.
“If you can turn the internet into analyzable data, it will fundamentally give businesses advantages that others don’t have,” Nair informed Reuters, adding that the goal is to assist businesses “create more money,” not just save on costs.
Its system utilizes advanced AI models for reasoning and exploration, and then codifies that knowledge for high-speed, deterministic execution at scale, according to Nair.
Amit Agarwal, partner at ICONIQ, stated the decision to invest was driven by TinyFish’s success with early pilot customers, including tech giant Google.
“They had operationalized it, productionized it at a very large scale for two large-scale customers who have all the development resources in-houtilize to build these types of things themselves,” Agarwal stated.
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