AI Startup Cohere has acquired Ottogrid, a Vancouver-based platform that develops enterprise tools to automate certain types of high-level market research.
Sully Omar, one of the founders of Ottogrid, announced the deal in an X post on Friday. He did not disclose the terms.
According to Omar, Ottgrid will bring the product to sunset, but will provide customers with “sufficient notification” and a “reasonable transition period.”
“We are very excited to join the Cohere team and integrate Ottogrid into Cohere’s … platform,” Omar said in a statement. “Through working with Cohere, we [going to] It dramatically impacts the way people automate workflows, enrich data, and scale their operations. ”
Cohere did not immediately respond to requests for comment.
The purchase of Cohere’s Ottogrid is because the former experiences a bit of corporate turbulence. According to the information, Cohere was well below its earnings forecast prepared in early 2023, missing 85% of its target last year.
The company told Reuters on Thursday that annual revenues have recently reached $100 million, following a strategic shift focusing on private AI deployments for clients in sectors such as healthcare, government and finance.
Ottgrid was released in 2023 as a Cognaze led by Omar and Homam Malkawi. It was rebranded in October 2024 with a redesign of major platforms introducing many new integrations, tools and APIs.
Today, Ottogrid offers a “native table interface” with AI-powered document analysis capabilities. Customers can use it to extract data from their websites, for example, to store directly in a spreadsheet or automatically enhance their sales lead list.
Ottogrid has been able to raise $2 million in venture capital from investors including GV (Google Ventures), untapped capital, replica CEO Amjad Masad, Vercel CEO Guillermo Rauch, Cohere co-founder Ivan Zhang and Aidan Gomez, among others, according to Crunchbase.
As part of Cohere, Omar said Ottogrid will focus primarily on North. This is Cohere recently announced a ChatGPT-style application designed to assist knowledge workers with tasks such as document summary.
Updated at 2:03pm on Pacific: Cohere CEO Aidan Gomez said:
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