Two former executives from enterprise software giant Icertis have teamed up to launch a new Seattle startup aimed at a multi-trillion-dollar corporate headache.
Rivvun AI, which today is announcing a $7.55 million oversubscribed seed funding round from Sitara Capital and 3one4 Capital, is led by CEO Anand Veerkar and Chief Product Officer Niranjan Umarane.
Both spent the last decade as executives at Icertis, helping scale the contract intelligence platform to more than $350 million in annual recurring revenue. They are joined at Rivvun by co-founder and serial entrepreneur Patrick Linton.
Rivvun is tackling what the founders describe as an “execution gap,” a costly friction point between what a corporation contractually negotiates and what actually hits its books.
“The enterprise has spent a decade being told AI will transform how it operates,” said Veerkar. “What it needed was AI that creates direct, measurable impact on the P&L — not productivity narratives, not dashboards. Rivvun closes the gap between what was agreed and what was collected, recovering money that goes straight to the bottom line.”
Rather than building a conversational chatbot, a copilot or another analytics dashboard, Rivvun has built what it terms an “autonomous value execution layer.”
Rivvun’s agents sit on top of a company’s internal ERP, CRM and procurement databases — like SAP, Ariba and Salesforce — to catch commercial discrepancies and write corrective actions back into those systems.
It dubs these AI agents “stewards” (focused on money going out to manage invoices, suppliers, and leakage) and “sentinels” (focused on money coming in to track renewals and customer behavior).
It has also developed what it calls a “margin bridge”: a financial module that matches what you sell against what you spend to protect profit margins.
According to the company, these agents continuously monitor commercial events across corporate systems, apply governed playbooks and write corrective actions directly back into the systems while preserving an audit trail.
To address specific industries, Rivvun is building vertical-specific logic tailored to sectors like pharmaceuticals, healthcare, banking and retail.
For example, the company said that a large manufacturing company with $3 billion in spend may experience leakage across its disconnected systems, creating an invisible problem that financial dashboards and consultants may miss. In that scenario, Rivvun’s agents could run continuously across the data sources, recovering an estimated $110 million to $138 million annually.
The company is targeting Chief Financial Officers, Chief Revenue Officers and other C-level executives who oversee large budgets, noting that there’s no “rip-and-replace” as the agents tie directly into existing software systems.
Citing research from McKinsey, Rivvun said that companies lost an estimated 3 to 4 percent of their total external spend because of inefficiencies and non-compliance. That’s about $2 trillion when factored across the Fortune 2000 companies, which Rivvun said is money that basically “disappears in the gap between what was contractually committed and what enterprise systems were ever built to collect.”
In a statement, Anurag Ramdasan of 3one4 Capital said Rivvun is one of the strongest teams they’ve encountered.
“They are not pitching a horizontal AI solution and hoping for enterprises to extract value out of it,” Ramdasan said. “They are delivering ROI on AI for large enterprises from the first day of implementation, which is very critical for enterprise AI adoption.”
Similar to how Icertis grew over the past decade, Rivvun is taking a dual approach to its operations. It is headquartered in Seattle, with engineering operations in Pune, India. It employs 15 people, with plans to double this year.
The company plans to use the new seed capital to fund engineering, customer pilots and expand its enterprise global sales operations.
https://ift.tt/WwP0Mql June 10, 2026 at 01:00PM GeekWire
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