Nebuly secures a $21 million Series A funding round - Startupbusiness.it

AI ROI measurement startup Nebuly has closed a $21 million Series A funding round as enterprises scramble to justify ballooning AI budgets with hard evidence of business value.

The round was led by Planven and joined by Exor Ventures, Tenacity Capital, TGVG Capital, and Fastweb+Vodafone through Founders Factory. Italian public venture fund CDP Venture Capital also participated via its Artificial Intelligence Fund and the EU-backed Digital Transition Fund (PNRR / NextGenerationEU), alongside existing investors and angels.

Nebuly's platform sits across a company's entire AI stack — including third-party tools such as Microsoft Copilot, ChatGPT, and Claude, as well as bespoke internal assistants — and distils activity into a single ROI dashboard. For HR and workforce applications, the platform measures two distinct value types: efficiency gains (hours saved, capacity freed) and capability expansion (tasks teams can now perform that were previously impossible). It also surfaces which teams are benefiting most, whether AI is being applied to high-value or routine work, and where targeted upskilling could improve returns.

For customer-facing deployments, Nebuly monitors revenue impact and flags indicators such as churn risk and upselling opportunities. All underlying assumptions are exposed and editable, giving finance and management teams the ability to interrogate the numbers.

CEO and co-founder Francesco Signorato framed the problem in blunt terms. "Companies are now making decisions about recruitment and staffing based on assumptions about AI productivity, not on hard data," he said in a statement. "Decisions of this importance require real data."

The timing reflects a broader industry reckoning. According to a Gartner survey cited by the company, 85 per cent of functional leaders plan to increase AI spending this year, yet only 22 per cent of organisations have managed to roll out AI across multiple business units. Runaway costs have also emerged as a risk: Uber reportedly exhausted its annual AI budget within four months of 2026, and an Amazon project is said to have overrun its budget by 860 per cent after autonomous agents continued executing tasks unattended for five months.

Nebuly says it has already signed several six-figure contracts with large enterprises across telecoms, automotive, industrial manufacturing, luxury goods, healthcare, and technology. Named clients include smart-ring maker Oura, Iveco Group, CNH, and optical systems group Zeiss. Fastweb+Vodafone appears both as an investor and a client.

Fabio Ricciato, Head of Digital, Data, AI & Architectures at Iveco Group, said the company has worked with Nebuly since its founding and that understanding AI value "is becoming just as important as implementing the technology itself."

Planven managing partner Giovanni Canetta Roeder said AI ROI measurement "will become standard practice for any large organisation" and cited Nebuly's enterprise traction as a key draw for the investment.

The platform can be deployed on-premises or in a customer's private cloud, removing the need to send corporate data to external model APIs — a feature likely to resonate with regulated industries. Terms beyond the round size were not disclosed.