Arteria AI, a leading AI firm in institutional finance, announced its $30 million Series B funding, led by GGV Capital U.S., raising its total funding to $50 million. The round was oversubscribed, with participation from existing investors including Illuminate Financial, Information Venture Partners, BDC Capital, and Citi. Specializing in modern documentation infrastructure, Arteria has gained trust from premier financial institutions, including global Tier 1 banks, for improving operational efficiency and client experience through AI. Since its 2020 launch, the company has seen remarkable growth, tripling its recurring revenue last year.

CEO Shelby Austin highlighted the partnership with GGV U.S. as a step towards solving documentation challenges in financial services. Jeff Richards of GGV Capital U.S. praised Arteria's platform for its significant impact on financial services documentation. GGV's Chelcie Taylor commended Austin's leadership and vision for addressing the unstructured data problem in finance.

Citi, through its SPRINT team, emphasized Arteria's role in digital innovation and enhancing client services. Fernando Dammert of Citi pointed out the importance of documentation in client experience, praising Arteria's efficiency and value-driven approach.

The funds will be used to expand Arteria's market presence and further develop its AI technology in financial services.