Home News Automated proposal writing startup AutogenAI raises $39.5M

Automated proposal writing startup AutogenAI raises $39.5M

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Writing proposals to fulfill requests-for-proposals (RFPs) and win funding could be a slog, even for these organizations with expertise doing it — because it sometimes entails a mixture of offering tedious, repetitive however extremely particular data in many various type fields, all whereas hewing to very stringent necessities. However getting it proper is the whole lot for the organizations submitting proposals, because it’s the distinction between successful an important contract or dropping one.

Now, the UK-based startup AutogenAI believes this course of will be closely automated, with human supervision, and buyers appear to agree.

Contemporary off its enlargement within the U.S. that VentureBeat coated in October, AutogenAI earlier at present announced it has raised a $39.5 million Series B funding round co-led by heavy hitters together with Salesforce Ventures and Spark Capital, with contributions from Blossom Capital. That brings AutogenAI’s complete funding to-date to $65.3 million.

The corporate has no direct connection or relation to Microsoft’s AutoGen, an AI agent framework.

A powerful basis based mostly in expertise

Based by serial entrepreneur and CEO Sean Williams, who started his journey as a bid author, AutogenAI has quickly advanced into one of many fastest-growing generative AI corporations within the UK.

Now, it’s making vital strides globally, with its enlargement into the U.S. and Australia, spearheaded by appointed CEOs Elizabeth Lukas and Emma Crichton, respectively.

The core of AutogenAI’s providing lies in its superior bid-writing product suite. This suite is designed to revolutionize the way in which organizations, starting from Fortune 500 corporations to charities and nonprofits, method the extremely delicate and time-consuming bidding course of. By harnessing cutting-edge AI know-how, AutogenAI permits these organizations to craft bids, tenders, and proposals extra effectively and compellingly.

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What units AutogenAI aside is the tangible influence of its software program on enterprise outcomes. In line with the corporate’s information, shoppers have skilled a exceptional 30% uplift in win charges, translating to over $100 million in further work, whereas concurrently chopping related prices by as much as 85%.

Nowi Kallen, Managing Director at Salesforce Ventures, lauded the software program, stating in a press launch: “The funding in AutogenAI by Salesforce Ventures highlights our conviction that AutogenAI’s software program is a game-changer for enterprises that safe enterprise through tendering and drafting proposals. Your entire panorama is being remodeled by generative AI, and the revolutionary means AutogenAI employs this know-how to help corporations to safe extra enterprise is groundbreaking.”

This sentiment was echoed by Debbie Brockbank, Interim Development Director at Hinduja International Options, who described AutogenAI’s influence as considerably boosting the productiveness of bid groups.

“The standard of the entire completed bid is extra constant and cohesive,” Brockbank mentioned in a press launch. “The velocity to get to the primary lower is remodeled. Contributors can get entry to data shortly and communication within the group is improved.”

In response to growing considerations round information safety in AI adoption, AutogenAI has prioritized privateness and factual accuracy from its inception.

The corporate’s newest innovation, Bowdleriser, removes confidential data from company paperwork to retain privateness and safety, whereas offering externally shareable copies.

Tangible return-on-investment (ROI)

Williams expressed confidence within the distinct methodologies of AutogenAI, emphasizing the corporate’s dedication to reliable supply supplies as the muse of verifying data.

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He famous the tangible return on funding that shoppers understand in a short while, leveraging the platform as a launchpad for embracing and increasing with generative AI.

As AutogenAI continues its upward trajectory, it stands to motive that its know-how might quickly among the many normal toolkits of bid groups within the UK, US, Australia…and possibly sometime quickly, past.

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