AI startup Cohere acquires Ottogrid, a platform for conducting market research

AI startup Cohere has acquired Ottogrid, a Vancouver-based level that develops endeavor tools for automating definite kinds of high-level marketplace research.

Sully Omarr, 1 of the founders of Ottogrid, announced the woody Friday successful a post connected X. He didn’t disclose the terms.

Ottogrid volition sunset its product, according to Omarr, but springiness customers “ample notice” and “a tenable modulation period.”

“We’re precise excited to articulation the Cohere squad and integrate Ottogrid into Cohere’s […] platform,” Omarr said successful a statement. “Through our enactment with Cohere, we’re [going to] dramatically interaction however radical tin automate their workflows, enrich their data, and standard their operations.”

Cohere didn’t instantly respond to a petition for comment.

Cohere’s acquisition of Ottogrid comes arsenic the erstwhile experiences a spot of firm turbulence. According to The Information, Cohere fell good abbreviated of gross projections the institution prepared successful aboriginal 2023, missing its people for past twelvemonth by 85%.

The institution told Reuters connected Thursday that its annualized gross precocious reached $100 million, pursuing a strategical displacement with a absorption connected backstage AI deployments for customers successful sectors similar healthcare, government, and finance.

Ottogrid launched successful 2023 arsenic Cognosys, led by Omarr and Homam Malkawi. It rebranded successful October 2024 with a large level redesign that introduced a fig of caller integrations, tools, and APIs.

Today, Ottogrid offers a “native array interface” with AI-powered papers investigation capabilities. Customers tin usage it to extract information from a website and prevention it straight to a spreadsheet, for example, oregon automatically enrich income pb lists.

Ottogrid managed to rise $2 cardinal successful task superior from investors including GV (Google’s task arm), Untapped Capital, Replit CEO Amjad Masad, Vercel CEO Guillermo Rauch, Cohere co-founders Ivan Zhang and Aidan Gomez, and others anterior to its exit, according to Crunchbase.

As portion of Cohere, Omarr says that Ottogrid volition absorption chiefly connected North, Cohere’s precocious launched ChatGPT-style exertion designed to assistance cognition workers with tasks specified arsenic summarizing documents.