AI Startup Cohere Acquires Ottogrid, Enhancing Enterprise Tools for Market Research Automation
In a recent development, AI startup Cohere has announced the acquisition of Ottogrid, a Vancouver-based platform specializing in the development of enterprise tools for automating high-level market research processes.
The deal was disclosed by Sully Omar, one of the founders of Ottogrid, in a post on X. While the terms of the acquisition were not disclosed, Omar mentioned that Ottogrid will be sunsetting its current product. However, customers will be given ample notice and a reasonable transition period.
Expressing excitement about the acquisition, Omar stated, āWeāre very excited to join the Cohere team and integrate Ottogrid into Cohereās platform. Through our collaboration with Cohere, we aim to revolutionize automation workflows, enhance data enrichment, and scale operations significantly.”
On the other hand, Cohere is yet to respond to requests for comments regarding the acquisition.
The purchase of Ottogrid by Cohere comes at a time when Cohere is facing some corporate challenges. According to reports from The Information, Cohere fell short of its revenue projections for the previous year by 85%. However, it was reported by Reuters that Cohere’s annualized revenue has recently reached $100 million following a strategic shift towards private AI deployments in sectors like healthcare, government, and finance.
Ottogrid, formerly known as Cognosys, was founded by Sully Omar and Homam Malkawi in 2023. The platform underwent a rebranding in October 2024, introducing new integrations, tools, and APIs to enhance its services.
Today, Ottogrid offers a unique “native table interface” with AI-powered document analysis capabilities. Users can leverage the platform to extract data from websites and directly save it to spreadsheets or automatically enrich sales lead lists.
Prior to its acquisition, Ottogrid managed to secure $2 million in venture capital funding from investors such as GV (Google Ventures), Untapped Capital, Replit CEO Amjad Masad, Vercel CEO Guillermo Rauch, Cohere co-founders Ivan Zhang and Aidan Gomez, among others.
Under Cohere’s umbrella, Ottogrid will now focus on North, Cohere’s recently launched application similar to ChatGPT, designed to aid knowledge workers in tasks like document summarization.
Update at 2:03 p.m. Pacific Time: Cohere CEO Aidan Gomez expressed his excitement about the integration of Ottogrid into North, stating, “Iām super excited to bring the Ottogrid team aboard and incorporate Ottogridās product directly into North. Weāre bringing enterprises a new way to tackle research with smart tables, helping make employeesā day-to-day work more enjoyable and productive.”
