Arena, a New York-based company developing an AI-powered platform designed to help company leaders make business decisions, announced that it raised $32 million in Series A funding to build autopilot for high-frequency decisions.
The round was led by Initialized and Goldcrest Capital, along with Founders Fund, Flexport, and a colorful cast of characters, including retired general David Petraeus, Peter Thiel, and Y Combinator CEO Michael Seibel.
The closing of Arena’s Series A today marks the company’s first external raise and allows to expand Arena’s core technology while growing into industries such as manufacturing, renewable energy, and financial services.
Company: Arena Technologies, Inc.
Round: Series A
Funding Month: Aug 2022
Lead Investors: Initialized and Goldcrest Capital
Additional Investors: Founders Fund, David Petraeus, Peter Thiel, and Michael Seibel
Company Website: https://www.arena-ai.com/
Software Category: AI-Powered ‘Autopilot’ for enterprise business decisions.
About the Company: Founded in 2020 by Pratap Ranade and Engin Ural, Arena empowers businesses across industries to make high-frequency, critical path decisions fully autonomous. Arena’s products have helped some of the world’s largest CPG companies, as well as small merchants and tech companies, transform intensive sales and supply chain processes into autonomous, self-learning systems — unlocking efficiencies and resulting in a better, more affordable consumer experience. Arena believes that, if safely and equitably delivered, real-world autonomy can positively transform humanity, from helping renewable energy providers reduce green premiums, to making physical infrastructure safer and more efficient. The arena is committed to bringing our technology where it can have the highest impact.
Source: https://techcrunch.com/2022/08/02/arena-raises-money-from-peter-thiel-and-david-petraeus-for-its-decision-making-ai/ https://blog.arena-ai.com/32-mm-to-help-enterprises-make-high-frequency-decisions-autonomously/