AutogenAI Secures $39.5M Series B Funding to Revolutionise Bid-Writing with Generative AI
December 6, 2023
In the competitive landscape of proposal writing, where success can hinge on the smallest of margins, UK-based startup AutogenAI is making waves with its innovative approach to automating the arduous task of crafting bids and proposals. Recently closing a significant $39.5 million Series B funding round, co-led by Salesforce Ventures and Spark Capital, with additional support from Blossom Capital, AutogenAI's total investment now stands at an impressive $65.3 million.
The company’s leadership includes Raj Khaira, co-founder and Deputy Global CEO; incredibly multi-talented and she's also published author, a lawyer and also founded the Pink Ladoo Project and South Asian Therapist.org. Tricia Blatherwick, CCO, who led strategic sales teams at some of the world’s largest BPO and ITO companies; and Daniel Whitson, Chief Technology Officer who is the co-founder of AutogenAI, which is the UK's fastest growing AI company, which specialises in helping people to write tenders in minutes rather than days.
AutogenAI, founded by serial entrepreneur and CEO Sean Williams, initially gained traction with its expansion into the U.S. and Australia, spearheaded by appointed CEOs Elizabeth Lukas and Emma Crichton. The startup has rapidly evolved into one of the fastest-growing generative AI companies globally, offering a suite of advanced bid-writing products designed to transform how organisations, from Fortune 500 companies to charities and nonprofits, approach the time-consuming and highly sensitive bidding process.
The core of AutogenAI's offering lies in its bid-writing product suite, leveraging cutting-edge AI technology to enable organisations to craft bids, tenders, and proposals more efficiently and compellingly. According to the company's data, clients have experienced a remarkable 30% uplift in win rates, translating to over $100 million in additional work, while simultaneously cutting associated costs by up to 85%.
Salesforce Ventures, one of the lead investors, emphasised the transformative impact of AutogenAI's software on enterprises that secure business through tendering and proposal drafting. Nowi Kallen, Managing Director at Salesforce Ventures, expressed confidence in AutogenAI's potential, stating that the entire landscape is being revolutionised by generative AI.
Debbie Brockbank, Interim Growth Director at Hinduja Global Solutions, praised AutogenAI for significantly increasing the productivity of bid teams. The quality of finished bids became more consistent and cohesive, and the speed to the first cut transformed, improving communication within the organisation.
Addressing concerns around data security, AutogenAI introduced Bowdleriser, its latest innovation, to remove confidential information from corporate documents while retaining privacy and security. This feature allows for wider distribution within a company, fundamentally changing the way knowledge is managed, retrieved, and reused.
Sean Williams, AutogenAI's founder and CEO, highlighted the company's commitment to dependable source materials and its distinct methodologies, emphasising the tangible return on investment realised by clients in a short period. AutogenAI's platform serves as a launchpad for businesses looking to embrace and expand with generative AI, delivering hundreds of millions of new business wins to its customers.
As AutogenAI continues its upward trajectory, its technology stands to become a standard toolkit for bid teams globally, offering a game-changing solution for enterprises navigating the dynamic landscape of proposal writing and securing vital contracts. With the backing of significant investors, AutogenAI is poised to further develop its bid-writing product suite, solidifying its position as a trailblazer in the field of AI knowledge theory.