Jiva.ai Revenue, Valuation & Funding (2024)

As of November 2021, Jiva.ai had zero paying customers. Patel stated that approximately a dozen prospects were in pilot or pipeline stages, with three expected to convert to paid contracts within the following month. The conversion criterion is demonstrated value: pilots must show measurable cost savings or operational efficiencies before a healthcare provider commits to a subscription.

Patel indicated that average contract values for the platform would be in the range of £3,000 to £4,000 per month for corporate customers, with academic and research and development clients paying in the hundreds of pounds per month. He acknowledged those figures were forward-looking estimates based on anticipated pricing rather than realized contracts, given the company's pre-revenue status at the time of the interview.

Jiva.ai operates a subscription model with two revenue streams: subscriptions to the general-purpose machine learning platform and subscriptions to its proprietary diagnostic products. Platform pricing is tiered by customer type, with academic and research and development users paying in the hundreds of pounds per month and corporate clients targeted at £3,000 to £4,000 per month.

As of November 2021, the company was pre-revenue with zero paying customers. Monthly net burn was approximately £50,000, with total expenses capped at no more than £100,000 per month, the higher figure driven by sporadic regulatory work. With £1,300,000 raised in the May 2021 seed round, the company had approximately 13 months of runway remaining at the time of the interview. Profitability, gross margin, churn, LTV, CAC, and retention metrics were not discussed, as the company had not yet generated revenue.

Jiva.ai had six full-time staff as of November 2021, supplemented by six part-time workers described as a mix of consultants and board members. Patel said the decision to bring in experienced advisors rather than junior hires early in the company's life was deliberate, and he credited that choice with helping the company survive and secure funding through the COVID-19 period.