Artificial intelligence (AI) startup Motion, previously known as Nexusbird Inc., has declared the successful closure of its Series C funding round, amassing $38 million. This latest infusion brings the company's total cumulative funding to $75 million and boosts its valuation to $550 million. The funding round was spearheaded by Scale Venture Partners.

Established in 2019, Motion initially honed in on AI-driven calendar and task management applications. However, in a strategic move this May, the company pivoted to offer AI agent services tailored specifically for small and medium-sized enterprises (SMEs). Remarkably, within just four months of this transition, Motion has secured over 10,000 B2B clients, with its annual recurring revenue soaring past the $10 million mark.

The prowess of Motion's AI agent suite stems from its exceptional integration capabilities, which facilitate effortless connectivity with a wide array of third-party software. Coupled with its competitive pricing, these features have positioned Motion as a formidable player in the market. With the freshly acquired funds, Motion is poised to ramp up its investment in research and development. The company aims to enhance the functionalities of its AI agent suite, bolster market promotion efforts, and forge strategic collaborations to further its reach and impact.