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Cohere Acquires Ottogrid to Boost AI-Powered Market Research Automation
AI startup Cohere has officially acquired Ottogrid, a Vancouver-based platform known for developing enterprise tools that automate market research processes. The acquisition comes as Cohere seeks to expand its AI capabilities and integrate Ottogrid’s technology into its broader platform offering.
Ottogrid, founded by Sully Omarr and Homam Malkawi, initially launched in 2023 under the name Cognosys before rebranding in October 2024. The company’s flagship platform offers a “native table interface” with AI-powered document analysis capabilities, allowing users to easily extract data from websites and integrate it directly into spreadsheets or enrich sales lead lists. This tool will now be integrated into Cohere’s AI-driven platform to further streamline workflow automation for businesses.
Omarr, one of Ottogrid’s founders, confirmed the deal on X but did not disclose the financial terms. He also mentioned that Ottogrid will sunset its current product, with customers being given ample notice and a reasonable transition period.
Ottogrid’s Role in Cohere’s Strategy
Ottogrid’s acquisition aligns with Cohere’s strategic shift towards private AI deployments in sectors like healthcare, government, and finance. The company, which has faced some corporate challenges in recent times, including a shortfall in revenue projections for 2023, recently reported an annualized revenue of $100 million. This marks a pivotal point as Cohere refines its focus on AI tools designed for enterprise applications.
Omarr expressed excitement about the merger, noting that the collaboration with Cohere will significantly enhance the way businesses automate workflows, enrich data, and scale operations. Ottogrid’s expertise in AI-driven market research aligns with Cohere’s broader vision of transforming AI interactions into impactful, real-world applications.
Venture Capital Backing and Future Prospects
Before its acquisition, Ottogrid raised $2 million in venture capital from prominent investors, including GV (Google’s venture arm), Untapped Capital, and several tech executives. The company’s AI-powered platform has attracted attention for its ability to simplify complex data analysis, making it more accessible and valuable to businesses seeking actionable insights.
As part of the deal, Ottogrid’s focus will shift primarily towards North, Cohere’s recently launched application designed to help knowledge workers with tasks such as document summarization. The integration of Ottogrid’s tools into North will provide enhanced capabilities for users looking to leverage AI for more efficient and data-rich workflows.
Cohere’s Growing Influence in the AI Market
Cohere, known for its focus on AI-powered language models, continues to grow in both reach and scope. With this acquisition, the company aims to enhance its offerings by incorporating Ottogrid’s market research automation technology, helping businesses not only streamline their operations but also make smarter, data-backed decisions. The move further solidifies Cohere’s position as a key player in the AI landscape, particularly as it focuses on enterprise-level applications in sectors with significant data needs.
Despite recent challenges, the integration of Ottogrid’s technology signals Cohere’s commitment to expanding its product suite and accelerating its growth in the competitive AI market.
