Nebuly raises $21 million Series A to help enterprises measure the ROI of their AI initiatives

NEW YORK, UNITED STATES / TURIN, ITALY, 12 NOVEMBER 2026: Nebuly, the platform that measures the return enterprises get from their AI agents, today announced a $21 million Series A led by Planven. The round includes participation from Exor Ventures, Tenacity Capital, TGVG Capital and Fastweb+Vodafone (via Founders Factory), alongside returning investors and angels. CDP Venture Capital SGR also supported the round through its Artificial Intelligence Fund and Digital Transition Fund (PNRR, Funded by the European Union - NextGenerationEU). 

The round follows strong commercial growth, including multiple six-figure contracts with some of the world’s largest enterprises in telecommunications, automotive, industrial manufacturing, luxury, healthcare and technology. Customers include Oura, Iveco Group, Fastweb+Vodafone, CNH and Zeiss, among others. 

Enterprises have spent the last two years investing heavily in AI; now they need to measure the value it brings to the business. A recent Gartner survey finds that 85% of functional leaders plan to increase their AI spending this year, yet only 22% of organizations have successfully scaled AI across multiple business units. Costs are also becoming harder to control: the Financial Times reports that Uber hit its annual AI budget barely four months into 2026, and that one Amazon project ran 860% over budget after unfinished agent tasks kept running in the background for five months. And most large enterprises run agents from several providers alongside their own custom-built tools, so no single provider can see across all of them. What they need is an independent platform that measures the value of all their AI, wherever it runs. 

“Every enterprise is about to face the same question from its board: what is AI actually worth to us? Nebuly exists to answer it.” “Until now, companies have measured AI by counting users, prompts and responses, which has fueled the recent rise of ‘tokenmaxxing’, where usage itself becomes the goal. None of that tells you whether an employee got an hour of work back or a customer got the answer they needed. Companies are now making decisions about hiring and headcount based on assumptions about AI productivity, not evidence. Decisions of that weight need real data.”

Francesco Signorato

CEO and Co-founder at Nebuly

AI agents are now answering customer questions, helping employees find information and taking on everyday work inside large companies. Increasingly, they also run for hours or days on their own, working through complex tasks with little human oversight, which makes their cost and value even harder to track. Yet as businesses move beyond pilots, many still cannot say what their AI investment returns, how proficient their workforce is at using it, or what revenue it has influenced. 

Nebuly measures what AI is really worth to a business. It analyzes what AI agents actually do inside an organization, across internal employee tools and customer-facing assistants, and brings the results into a single view. For employee-facing AI, it measures two kinds of value: the efficiency AI creates, in hours saved and capacity freed up, and the new tasks it unlocks that teams could not take on before. It also shows whether AI is being used for high-value work or routine tasks, which teams are getting the most out of it and where targeted upskilling can raise the return. For customer-facing assistants, it tracks the revenue AI influences and surfaces signals such as churn risk and upsell opportunities. Every assumption behind the figures stays visible and adjustable, so leadership and finance teams can examine the numbers rather than take them on trust. 

Nebuly connects to the agents a business already uses, including custom-built tools and assistants based on Claude, ChatGPT and Microsoft Copilot. Its purpose-built models analyze AI agent behavior at scale and can run on-premise or in a customer’s private cloud, so enterprise data does not need to be sent to external model APIs. 

"We've worked with Nebuly since its early days and have seen first-hand how both the company and the AI landscape have evolved. As AI becomes increasingly integrated into day-to-day business operations at Iveco Group, understanding the value AI creates and how to optimize it is becoming just as important as deploying the technology itself. Nebuly is helping businesses make that connection by bringing greater clarity to AI’s real-world impact. We’re pleased to see the company reach this milestone and look forward to following its continued growth."

Fabio Ricciato

Head of Digital, Data, AI & Architectures at Iveco Group

Nebuly will use the funding to accelerate its mission of becoming the standard for measuring the business value of AI, scaling its go-to-market team across the US and Europe and further developing its platform.
 

"Measuring AI's return will become a standard part of running any large organization, and Nebuly is building the way to do it." "The team turns what AI agents actually do into evidence of business value, across the tools employees and customers use every day. That capability, and the traction Nebuly has built among major enterprises, made this a compelling investment for us." 

Giovanni Canetta Roeder

Managing Partner at Planven

About Nebuly 

Nebuly measures the economic value of enterprise AI agents. Its platform shows which tasks employees and customers delegate to AI, how well that work gets done and what it is worth to the business. Headquartered in Turin and New York, Nebuly works with customers including Oura, Iveco Group, Fastweb+Vodafone, CNH and Zeiss. Learn more at nebuly.com. 

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