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# Startup Wants Finance Teams to Check AI Agents' Math
- URL: https://www.implicator.ai/nebuly-whose-tech-helps-enterprises-measure-business-value/
- Published: 2026-11-15T11:57:52.000Z
- Updated: 2026-11-15T11:57:52.000Z
- Description: Nebuly's chief executive says every enterprise is about to face a board question on what AI is worth. Planven led a $21 million round behind his way of answering it.
- Author: Marcus Schuler
- Tags: AI News, #auto

Nebuly, a Turin-based company that helps businesses measure the financial return from their AI agents, has [raised $21 million](https://siliconangle.com/2026/11/12/nebuly-wants-to-help-enterprises-understand-exactly-what-their-ai-investments-are-worth-after-raising-21m/?ref=implicator.ai) in a [Series A round led by Planven](https://tech.eu/2026/11/12/nebuly-raises-21m-series-a-to-turn-ai-investments-into-measurable-results/?ref=implicator.ai). Exor Ventures, Tenacity Capital, TGVG Capital and Fastweb+Vodafone joined the round, along with CDP Venture Capital's Digital Transition Fund.

"Every enterprise is about to face the same question from its board, if it hasn't already: What is AI actually worth to us? Nebuly exists to answer that question," said Francesco Signorato, the company's co-founder and chief executive.

What Changed

- Turin-based Nebuly raised $21 million in a Series A round led by Planven.
- The platform tracks the work hours AI agents save for employees and how customer-facing agents influence revenue, churn and upsell opportunities.
- Almost all of Nebuly's customers pull in annual revenue of more than $100 million; most are based in Europe, and Signorato plans to increase go-to-market hiring in the U.S.
- Ascerta raised $18 million from Dell's venture arm in September to connect enterprise AI spending with business outcomes.

AI-generated summary, reviewed by an editor. [More on our AI guidelines](https://www.implicator.ai/about/).

## The spending problem

A recent Gartner survey of business leaders found that 85% of respondents plan to step up their AI spending in the next year. Only 22% say they have managed to scale the technology across multiple business units.

Uber revealed earlier this year that it had eaten up the entire budget it set aside for AI in 2026 in four months. An internal Amazon project ran 860% over budget for five months before the overspend was detected.

Signorato said many companies have deployed a patchwork of AI models and applications, using tools from OpenAI, Anthropic, Microsoft, Google and others while also building their own. That makes it harder to see which projects are actually paying off.

"Until now companies have measured AI by counting users, prompts and responses, which has fueled the rise of tokenmaxxing, where usage itself becomes the goal," Signorato said. Counting usage, he said, does not show "whether an employee got back an hour of work or if a customer got the answer they needed."

## What the platform counts

Nebuly's platform connects directly to the AI agents operating inside a customer's IT environment and studies their behavior through a unified control plane. It works with custom-built agents and with assistants powered by Claude, ChatGPT and Microsoft Copilot.

For employee-facing agents, it tracks the hours of work they save and the capacity they free up. It also takes into account net-new work that teams couldn't previously do, and whether staff apply AI to routine tasks or higher-level strategic work. For customer-facing agents, it monitors how they influence revenue, their impact on customer churn and their ability to generate upsell opportunities.

Finance teams can inspect and adjust the assumptions behind the figures. The software can run on-premises or in a private cloud to keep sensitive business data secure.

Signorato founded the company in 2022 with Julien Roux and Diego Fiori. Nebuly initially focused on user analytics for large language models before expanding into measuring the business value of AI.

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## Who buys it

Customers include Oura, Iveco Group, Fastweb+Vodafone, CNH and Zeiss, with contracts worth multiple six-figure sums. Almost all of Nebuly's customers pull in annual revenue of more than $100 million, and about half exceed $1 billion a year. Most of them are based in Europe. Signorato plans to increase go-to-market hiring in the U.S.

Giovanni Canetta Roeder of Planven said he is backing Nebuly because he is convinced that every large organization is going to need a way to measure AI's return on investment. "The team turns what AI agents actually do into evidence of business value," he said.

## Rivals for the same budget

Other companies are pursuing the same market. In September, Ascerta [raised $18 million](https://thenextweb.com/news/nebuly-21m-series-a-enterprise-ai-roi?ref=implicator.ai) from Dell's venture arm to connect enterprise AI spending with business outcomes. Software providers are also changing how they charge for AI, with Zendesk moving toward pay-per-result pricing.

"Companies are making decisions about hiring and head counts based on assumptions about AI productivity, not evidence," Signorato said.

Frequently Asked Questions

What does Nebuly do?

Nebuly is a Turin-based company that helps businesses measure the financial return from their AI agents. Its platform connects directly to the AI agents operating inside a customer's IT environment and studies their behavior through a unified control plane.

Who invested in the round?

Planven led the $21 million Series A. Exor Ventures, Tenacity Capital, TGVG Capital and Fastweb+Vodafone joined, along with CDP Venture Capital's Digital Transition Fund.

What does the platform measure?

For employee-facing agents, it tracks the hours of work they save and the capacity they free up. For customer-facing agents, it monitors how they influence revenue, their impact on customer churn and their ability to generate upsell opportunities. Finance teams can inspect and adjust the assumptions behind the figures.

What is tokenmaxxing?

Signorato uses the term for measuring AI by counting users, prompts and responses, where usage itself becomes the goal.

Who are Nebuly's customers?

Customers include Oura, Iveco Group, Fastweb+Vodafone, CNH and Zeiss, with contracts worth multiple six-figure sums. About half of its customers exceed $1 billion in annual revenue.

AI-generated summary, reviewed by an editor. [More on our AI guidelines](https://www.implicator.ai/about/).

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