AutogenAI, a New York-based enterprise-level artificial intelligence company, has closed a $39.5 million Series B funding, bringing its total raised to $65.3 million.
SaaS Investors
The round was co-led by Salesforce Ventures and Spark Capital, with participation from Blossom Capital.
Founded in 2009, Salesforce Ventures is a corporate venture capital arm of Salesforce based in San Francisco, California, that helps enterprising founders build companies that reinvent the way the world works. The firm seeks to invest in cloud-based and technology companies.
Founded in 2005, Spark Capital is a venture capital investment firm that invests in seed-stage, early-stage, growth-stage, and later-stage companies. Based in Boston, Massachusetts, the firm seeks to invest in business products, business services, consumer products, consumer services, financial services, information technology, SaaS, and fintech sectors in the United States.
AutogenAI Use of Funds
The company will use the funding to support the further development of its bid-writing product suite, which aims to help businesses efficiently secure more work through the tendering and proposal process.
About AutogenAI
AutogenAI helps organizations to win more work. AutogenAI deploys cutting-edge artificial intelligence technology so that organizations can write bids, tenders, and proposals faster and more compellingly. The company's platform, used by Fortune 500 companies, government agencies, and various industries, has helped businesses achieve an increase in win rates and reduce associated costs. The company is on a mission to use artificial intelligence as a supercharger for human ingenuity and make the world a better place.
Funding Details
Company: AutogenAI Ltd.
Raised: $39.5M
Round: Series B
Funding Month: December 2023
Lead Investors: Salesforce Ventures and Spark Capital
Additional Investors: Blossom Capital
Company Website: https://autogenai.com/
Software Category: AI Writing Software
Source: https://newsdirect.com/news/backed-by-salesforce-ventures-ai-company-autogenai-raises-39-5m-series-b-569561383