Iterate. ai, a leader in providing AI solutions for companies, today announced it has raised a new $6.4M funding round.
The financing, which was led by Auxier Asset Management, with participation from former eBags Board members Peter Cobb, Mike Edwards and Dave Zentmyer, is a resounding vote of confidence in Iterate. ai’s path in a fast moving AI industry.
This funding is to power Iterate. ai To accelerate its rapid growth including adding new distribution channels and continuing to enhance its key productivity solution Generate Enterprise.
The re-investment by the investors, who partnered with CEO Jon Nordmark and CDTO/co-founder Brian Sathianathan comes on the heels of a successful run at eBags.
Iterate. ai is also known for its practical approach to AI development, which is geared towards real-world applications for businesses. The company was just named to CRN’s “20 Hottest AI Software Companies” list and by Fast Company as one of the “Best Workplaces for Innovators.
An important aspect of Iterate. ai’s approach is its good relationships with key hardware players including Intel, NVIDIA and Qualcomm and distributors such as TD SYNNEX.
These partnerships are vital to their strategy to achieve a wide-scale deployment of their AI tech. Notably, Iterate. ai has tailored its Generate platform for the on-device capabilities of Intel’s CPUs, GPUs and NPUs to support the burgeoning AI PC revolution.
Iterate. ai has products such as Generate; the AI assistant has a composable architecture and can be socialised in an AI PC offline, while for the cloud Interplay is the AI low code that is cloud agnostic.
With seven received patents and about a dozen more pending, the company offers a low-risk, measurement approach for enterprise innovation teams to scale their digital projects, focusing on agent building using a no-code interface and secure, air-gapped RAG (Retrieval Augmented Generation) technology. This funding will be used to cement Iterate. ai’s role as a major enabler of next generation AI adoption for businesses.
