Nebuly announced on November 12, 2026 that it had raised a $21 million Series A led by Planven to expand its platform for measuring the economic value of enterprise AI agents.
Exor Ventures, Tenacity Capital, TGVG Capital and Fastweb+Vodafone (through Founders Factory) participated alongside returning investors and angels. CDP Venture Capital SGR also supported the round through its Artificial Intelligence Fund and Digital Transition Fund, with funding from the European Union’s NextGenerationEU programme. Nebuly, headquartered in Turin and New York, plans to scale its go-to-market team across the United States and Europe and further develop the platform.
Nebuly reported multiple six-figure contracts with enterprises in telecommunications, automotive, industrial manufacturing, luxury, healthcare and technology. Its named customers include Oura, Iveco Group, Fastweb+Vodafone, CNH and Zeiss.
How Nebuly Measures AI Value
The platform analyzes what agents do across internal employee tools and customer-facing assistants, consolidating the results into a single view. For employee-facing AI, it measures hours saved and capacity freed, as well as new tasks that teams could not previously undertake. It also distinguishes high-value work from routine tasks, compares results across teams and identifies where targeted upskilling could improve returns.
For customer-facing assistants, Nebuly tracks revenue influenced by AI and surfaces churn-risk and upsell signals. The assumptions behind its reported figures remain visible and adjustable, allowing leadership and finance teams to examine the numbers rather than accept them on trust.
Nebuly connects to custom-built tools and assistants based on Claude, ChatGPT and Microsoft Copilot. The company said its purpose-built models can run on-premises or in a customer’s private cloud, avoiding the need to send enterprise data to external model APIs. The cross-provider design is aimed at enterprises running agents from several providers alongside their own tools; no single provider can see across that entire environment.
Chief executive and co-founder Francesco Signorato argued that measuring AI by counting users, prompts and responses fuels “tokenmaxxing,” where usage itself becomes the goal, while hiring and headcount decisions are still based on assumptions about AI productivity rather than evidence. “None of that tells you whether an employee got an hour of work back or a customer got the answer they needed,” he said.
Gartner Survey Shows Measurement Gap
A Gartner survey released on September 1, 2026 found that 85% of functional leaders planned to increase AI spending in 2026, after allocating an average of 12% of their functional budgets to AI in 2025. Only 22% of organizations had successfully scaled AI across multiple business units or adopted an AI-first approach, while roughly 11% were entirely unaware of what their function spent on AI in 2025.
The survey covered 1,303 respondents from January through April 2026 at organizations with enterprisewide annual revenue of at least $50 million in fiscal year 2025. Gartner reported positive returns in 81% of AI initiatives among high performers, which it defined as organizations that continually track AI return on investment, treat AI as a portfolio of value, regularly assess projects and reallocate or discontinue underperforming initiatives. Low performers did not know the rate of return for 29% of their initiatives.
The findings describe the commercial opening Nebuly is pursuing: AI budgets are rising even though many organizations have not scaled the technology or lack basic visibility into spending. The company’s inspectable, cross-provider measurement layer is designed for that gap. Its challenge is to turn agent activity into financial evidence reliable enough to guide decisions about which AI projects deserve further investment.