Nebuly Raises $21 Million to Measure AI Efficiency

The widespread adoption of artificial intelligence has presented companies with a new challenge: how to accurately measure the return on investment. To address this, Turin-based startup Nebuly has raised $21 million in a funding round led by Planven. Other participants included Exor Ventures, Tenacity Capital, TGVG Capital, and Fastweb+Vodafone.

The Problem of 'Tokenmaxxing'

Nebuly co-founder and CEO Francesco Signorato argues that many organizations currently measure AI success using flawed metrics. He calls this approach "tokenmaxxing," which focuses solely on tracking user counts, generated text, or the number of requests. According to Signorato, these figures often fail to reflect the actual value the technology provides to a business.

Consequently, companies frequently make miscalculations that lead to significant financial losses. For example, it is known that in 2026, Uber exhausted its annual AI budget in just four months, while one of Amazon's projects exceeded its budget by 860%. Although the cost of individual tokens has decreased, the overall expenditure companies allocate to AI has tripled.

How Nebuly Works

Nebuly’s platform aggregates data from various sources to link AI activity directly to business outcomes. The system integrates with both internal corporate tools and automated customer service assistants. It measures time saved by employees, increases in productivity, and new opportunities created by AI implementation.

Regarding customer relations, the platform tracks revenue generated through AI influence and helps companies identify risks of customer churn. Crucially, finance teams can verify and adjust the assumptions upon which the platform’s calculations are based.

Future Plans

The startup, founded in 2022, already collaborates with giants such as Oura, Iveco Group, and Zeiss. The new capital will be used to expand sales teams in the US and Europe, as well as to further develop the platform. Nebuly’s system supports models including Claude, ChatGPT, and Microsoft Copilot, and can be integrated into both on-premises infrastructure and cloud services.

While market competition is increasing, Nebuly’s focus on real economic results is becoming highly sought after. Businesses are gradually moving from the experimental phase to a regime of strict financial control, which further increases the importance of such analytical tools.