Cohere Acquires Ottogrid to Boost AI-Powered Market Research Capabilities
AI powerhouse Cohere has expanded its capabilities through the acquisition of Ottogrid, a Vancouver-based company specializing in enterprise-grade automation solutions for sophisticated market research.
Deal Announcement
Sully Omar, Ottogrid's co-founder, revealed the acquisition via social media on Friday, though financial specifics remain confidential.
Excited to announce that Ottogrid is joining @cohere!
Transition Plan
The Ottogrid platform will gradually phase out operations, with Omar promising customers a smooth transition period. "We're thrilled to integrate our technology with Cohere's ecosystem," Omar stated, "where we'll revolutionize workflow automation and data enhancement at scale."
Cohere's Strategic Move
This acquisition follows recent challenges for Cohere, including reports from The Information indicating the company achieved only 15% of its projected 2023 revenue targets. However, Cohere maintains its strategic pivot toward private AI deployments has recently driven annualized revenue to $100 million.
Ottogrid Evolution
Originally launching as Cognosys in 2023 under Omar and Homam Malkawi's leadership, the company rebranded to Ottogrid in October 2024 following extensive platform upgrades. Their current offering features AI-powered document analysis through an intuitive table interface that streamlines data extraction and enrichment.
Investor Profile
Prior to acquisition, Ottogrid secured $2 million in funding from notable investors including GV (Google Ventures), Untapped Capital, and several tech executives including Replit's Amjad Masad and Cohere's own co-founders.
Post-Acquisition Focus
Cohere CEO Aidan Gomez emphasized the strategic alignment: "Integrating Ottogrid's technology will enhance our North platform, creating smarter solutions for enterprise research workflows and employee productivity."
Industry Event Alert
TechCrunch will host leading AI innovators including Cohere representatives at its upcoming Sessions: AI conference in Berkeley on June 5.
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AI powerhouse Cohere has expanded its capabilities through the acquisition of Ottogrid, a Vancouver-based company specializing in enterprise-grade automation solutions for sophisticated market research.
Deal Announcement
Sully Omar, Ottogrid's co-founder, revealed the acquisition via social media on Friday, though financial specifics remain confidential.
Excited to announce that Ottogrid is joining @cohere!
Transition Plan
The Ottogrid platform will gradually phase out operations, with Omar promising customers a smooth transition period. "We're thrilled to integrate our technology with Cohere's ecosystem," Omar stated, "where we'll revolutionize workflow automation and data enhancement at scale."
Cohere's Strategic Move
This acquisition follows recent challenges for Cohere, including reports from The Information indicating the company achieved only 15% of its projected 2023 revenue targets. However, Cohere maintains its strategic pivot toward private AI deployments has recently driven annualized revenue to $100 million.
Ottogrid Evolution
Originally launching as Cognosys in 2023 under Omar and Homam Malkawi's leadership, the company rebranded to Ottogrid in October 2024 following extensive platform upgrades. Their current offering features AI-powered document analysis through an intuitive table interface that streamlines data extraction and enrichment.
Investor Profile
Prior to acquisition, Ottogrid secured $2 million in funding from notable investors including GV (Google Ventures), Untapped Capital, and several tech executives including Replit's Amjad Masad and Cohere's own co-founders.
Post-Acquisition Focus
Cohere CEO Aidan Gomez emphasized the strategic alignment: "Integrating Ottogrid's technology will enhance our North platform, creating smarter solutions for enterprise research workflows and employee productivity."
Industry Event Alert
TechCrunch will host leading AI innovators including Cohere representatives at its upcoming Sessions: AI conference in Berkeley on June 5.
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Cohere's nonprofit research lab just dropped a new multimodal AI model called Aya Vision, and they're calling it the best in its class. This model is pretty slick—it can whip up image captions, answer questions about pictures, translate text, and even summarize stuff in 23 major languages. Plus, Coh
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