Refold AI raises $6.5M to simplify enterprise software integrations and APIs

Refold AI, an enterprise startup that provides artificial intelligence to automate application programming interface integrations, today announced it has launched with $6.5 million in seed funding.

Eniac Ventures and Tidal Ventures co-led the company’s funding round. Better Capital, Ahead VC, Karman Ventures and Z21 also participated in the investment alongside several unnamed angels.

Founded in 2023 by Jugal Anchalia and Abhishek Kumar (pictured), Refold AI seeks to change how enterprise development teams integrate software by replacing traditional middleware and manual coding with AI agents that can understand system behavior to write and maintain code and adapt to changes.

Application programming interfaces serve as communication channels between various software applications, enabling synchronization between systems such as enterprise resource planning and customer relationship management software, such as SAP Business One and Salesforce. APIs enable development teams to connect two separate systems, ensuring that similar fields in both can be updated and synchronized.

However, should a field in one change or a software update happen to the other, the “connective tissue” of the API may break down until the development team fixes it. This could mean the users and developers lose hours of productivity until it’s working again.

“We were spending more time managing chaos than building software,” said co-founder and Chief Executive Jugal Anchalia. “We started Refold with a simple idea: integrations are repeatable and cumbersome; it should not need humans.”

To address this issue, Refold developed AI software that supports everyone, from advanced engineers to end users.

At its core, Refold offers Workflow Code Agents, which provide engineering teams the ability to generate, test and maintain integration logic without the need to use templates. In addition there are MCP Chains, which enable the use of natural language to describe outcomes to agents and have them generate operating workflows automatically. For software-as-a-service teams, Refold has launched an Embedded Integrations Platform, providing a plug-and-play toolkit with prebuilt user interface components.

Ideally, by using AI agents instead of pre-written middleware or humans that have to react to tickets when things become a problem, software can inform users when something has gone wrong and help fix it automatically. This includes detecting when fields change and need to match up again or a software version modifies how an API works.

An AI agent can be tasked with detecting failures, rerouting tasks and repairing integrations without user intervention. And then, inform the development team so that they can review the change or modify it.

Refold works with more than 1,000 pre-built connectors, including 1Password, Hubspot, Salesforce, Gmail, OpenAI and Slack.

Abhishek Kumar, Refold’s co-founder and chief product officer, said companies shouldn’t have to pay consultants to fix their integrations and APIs when they go down. “In the future, integrations should be free, fast, and invisible,” he added.

According to Refold, the company currently works with over 30 paying enterprise customers, including business intelligence firm Incorta Inc. and marketing operations platform provider Naehas Inc. It supports more than 1,500 active users and processes more than 30 million API calls per month, with an annual recurring revenue in the seven figures.

Image: Refold AI

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