Scribe hits $1.3B valuation as it moves to show where AI will actually pay off

After helping several enterprises document how work actually happens, Scribe has raised $75 million at a $1.3 billion post-money valuation to roll out Scribe Optimize, a platform that maps workflows across the enterprise to reveal where automation and AI will actually yield returns — instead of becoming another sunk cost.

The all-equity Series C round was led by StepStone, with participation from existing investors Amplify Partners, Redpoint Ventures, Tiger Global, Morado Ventures, and New York Life Ventures. The new funding comes over a year after Scribe raised its $25 million Series B, capital the five-year-old startup has largely not needed to draw down, co-founder and CEO Jennifer Smith (pictured above, left) said in an exclusive interview. With this round, Scribe plans to accelerate the rollout of Scribe Optimize and related products, as enterprises struggle to determine where AI and automation will have the greatest impact.

Many companies are racing to adopt AI, but Smith told Tech Zone Daily that most still cannot answer a fundamental question: What should we automate first? Enterprises often try to find the answer through interviews, workshops, or by bringing in consultants, she said, approaches that take months and still miss much of what people actually do on a day-to-day basis.

“Without really knowing how work is done, it is really hard to know where to improve it, where to automate it, where agents can help,” she said. “Scribe Optimize is all about answering that question. Very simply, it mines across workflows for what people are doing when they’re at work, and then it abstracts those up into being able to show you in a single pane of glass, here are the actual workflows that are being done. Here’s how often, how long it takes, etc.”

Founded in 2019 by Smith and Aaron Podoln (CTO) (pictured above, right), Scribe started before the GenAI boom, and its current flagship product, Scribe Capture, helps automatically document how work is done. When someone completes a process or workflow, Capture generates a step-by-step guide using its browser extension and desktop app, along with text and screenshots. Those guides can be shared with colleagues or embedded in internal tools to reduce repeated questions, minimize errors, and expedite onboarding.

Customers using Scribe Capture report saving 35 to 42 hours per person per month and making new hires 40% faster, the startup said.

The market of process documentation includes players including Tango, Iorad, UserGuiding, and Spekit. Nonetheless, Smith told Tech Zone Daily that Scribe competes against the status quo of people manually recording workflows.

“People are still using stopwatches to sit behind somebody and understand what this process is,” she said. “Even now, when it comes to deploying AI agents, the irony is that the process of deploying agents is incredibly manual.”

To date, Scribe has documented more than 10 million workflows across 40,000 software applications. The startup said that it has more than 5 million users and is used by teams inside 94% of Fortune 500 companies. Further, 78,000 organizations are its paid customers. It counts teams at New York Life, T-Mobile, LinkedIn, Hubspot, and Northern Trust among its users.

“Users come to Scribe not because their boss tells them to, but because they want to,” Smith told Tech Zone Daily. “It starts with the end user, and then goes up to their team lead, department lead, and then some kind of central function who are all interested in it for the question of, how do we scale, what we know, how to do, and how do we get better?”

The San Francisco-based startup sees the U.K., Canada, Australia, and Europe among its biggest markets after the U.S.

Scribe said it has more than doubled its revenue over the past year, though it did not disclose figures, and also said its valuation has increased fivefold since its last round. The startup currently has a headcount of 120 employees, and it plans to double that number in the next 12 months, Smith said.