Cohere AI Acquires Ottogrid to Boost Market Research Capabilities
▼ Summary
– AI startup Cohere has acquired Ottogrid, a Vancouver-based platform specializing in automating high-level market research for enterprises.
– Ottogrid will discontinue its product but provide customers with a transition period, as announced by co-founder Sully Omar.
– Cohere recently missed its 2023 revenue target by 85% but reported reaching $100 million in annualized revenue after shifting focus to private AI deployments.
– Ottogrid, originally launched as Cognosys in 2023, rebranded in 2024 and raised $2 million from investors including GV and Replit’s CEO.
– Post-acquisition, Ottogrid will integrate into Cohere’s North platform, enhancing AI-powered research tools for knowledge workers.
Cohere AI has strengthened its market research capabilities through the acquisition of Ottogrid, a Vancouver-based enterprise automation platform. The deal, announced by Ottogrid co-founder Sully Omar, marks a strategic move to enhance Cohere’s AI-driven workflow solutions, though financial details remain undisclosed.
Ottogrid will gradually phase out its standalone product, ensuring customers receive sufficient transition support. The integration aims to streamline data enrichment and operational scaling by merging Ottogrid’s AI-powered document analysis tools with Cohere’s existing ecosystem. Omar emphasized the potential to revolutionize automated workflows, calling the partnership a “natural fit.”
The acquisition arrives amid reports of Cohere’s financial challenges, including an 85% shortfall in 2023 revenue targets. However, the company recently reported $100 million in annualized revenue after pivoting toward private AI deployments for healthcare, government, and financial sectors.
Originally launched as Cognosys in 2023, Ottogrid rebranded last year with upgraded integrations and APIs. Its flagship feature—a smart table interface—enables users to extract web data directly into spreadsheets or enhance sales leads automatically. Prior to the acquisition, the startup secured $2 million in funding from notable backers, including GV, Untapped Capital, and executives from Replit and Vercel.
Cohere plans to embed Ottogrid’s technology into North, its ChatGPT-style assistant for knowledge workers. CEO Aidan Gomez highlighted the synergy, stating the merger will introduce “smart tables” to enterprise research, boosting productivity. The move underscores Cohere’s commitment to refining AI tools for complex business tasks.
(Source: TechCrunch)
