Stockholm-based AI startup Pit has raised a $16 million seed round led by Andreessen Horowitz, with backing from Lakestar and executives from OpenAI, Anthropic, Google, Deel and Revolut. Founded by the team behind Voi and Klarna, Pit offers an AI product team as a service, enabling companies to build custom internal software instead of relying on spreadsheets and rigid SaaS tools. CEO Adam Jafer says AI allows businesses to finally run systems designed for themselves. The platform already saved one major European industrial company over 10,000 hours annually by replacing legacy contract and invoice validation systems.
In-Depth:
Stockholm-based AI-native startup Pit has raised a $16m seed round led by Andreessen Horowitz (a16z), with participation from Lakestar and executives from OpenAI, Anthropic, Google, Deel and Revolut, as well as the Stena and Lundin families.
The startup is today launching its “AI product team as a service”. Founded by the team behind Voi and Klarna, the company aims to solve the problem of businesses still relying on spreadsheets, inboxes and rigid SaaS tools to manage operations.
While most companies recognise the value of AI, the challenge has been implementing it effectively across organisations.
According to Pit, its platform enables companies to build and deploy custom, production-grade software for internal business operations.
“For 20 years, enterprises have rented software that forces them to operate around it. With AI, that finishs. For the first time, every company can run on systems they have actually designed for themselves,” stated Adam Jafer, CEO and cofounder of Pit.
According to Jafer, while enterprises have spent more than $1tn on digital transformation in recent years, most workflows remain fragmented, manual and difficult to adapt. Pit’s platform is designed to take a business required and translate it into fully deployed, governed software.
The platform has two components: Pit Studio, where companies work with Pit to build systems that learn workflows and automate them; and Pit Cloud, which provides governed infrastructure with tenant isolation and full audit observability.
At one of Europe’s largest industrial companies, Pit replaced legacy contract and invoice validation systems with an AI-powered platform that processes tinquires in real time, saving more than 10,000 hours annually while achieving zero validation errors.
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