ServiceNow has acquired a 5% of BusinessNext, an India-based banking software provider, in a deal that values the company at $700 million. The investment is part of a $40 million series C round from ServiceNow Ventures, announced on July 22.

BusinessNext CEO Nishant Singh told Reuters the funding will mainly support sales efforts, with an initial focus on expanding distribution in Southeast Asia and Australia.

Singh also said BusinessNext has generated more than $50 million in annual revenue.

The companies said the partnership will help ServiceNow’s AI Control Tower monitor BusinessNext’s AI agents more closely. Banks are increasingly adopting AI tools from companies to tailor services, handle customer queries, and automate operations.

🔗 Source: Reuters

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