AI startup Cohere acquires Ottogrid to boost market research tools and expand its enterprise data intelligence capabilities
The Vancouver-based platform Ottogrid, which specializes in developing enterprise tools for automating specific types of high-level market research, has been acquired by AI startup Cohere.
The deal was disclosed by Sully Omar, one of the founders of Ottogrid, in a post on X on Friday. He refrained from disclosing the terms.
Omar has stated that Ottogrid will discontinue its product; however, customers will be provided with “ample notice” and “a reasonable transition period.”
“We’re very excited to join the Cohere team and integrate Ottogrid into Cohere’s … platform,” Omar said in a statement. “Through our work with Cohere, we’re [going to] dramatically impact how people can automate their workflows, enrich their data, and scale their operations.”
Cohere did not promptly address a request for comment.
Ottogrid’s acquisition by Cohere coincides with Ottogrid’s internal turmoil. The Information reported that Cohere’s revenue projections for the previous year were significantly lower than those it had established in early 2023, with an 85% deficit.
The company recently achieved $100 million in annualized revenue, as reported by Reuters on Thursday. This achievement resulted from a strategic pivot prioritizing private AI deployments for finance, government, and healthcare customers.
Ottogrid AI was established in 2023 as Cognosys under the leadership of Omar and Homam Malkawi. In October 2024, it underwent a significant platform redesign that resulted in introducing a variety of new APIs, tools, and integrations, which enabled it to rebrand.
Ottogrid currently provides a “native table interface” propelled by AI and enables document analysis. For instance, customers may utilize it to automatically enhance sales lead lists or extract data from a website and save it directly to a worksheet.
According to Crunchbase, Ottogrid was able to secure $2 million in venture capital from a variety of investors, including GV (Google Ventures), Untapped Capital, Replit CEO Amjad Masad, Vercel CEO Guillermo Rauch, Cohere co-founders Ivan Zhang and Aidan Gomez, and others, before its exit.
According to Omar, Ottogrid will concentrate on North Cohere’s recently launched ChatGPT-style application, intended to aid knowledge workers in duties such as document summarization as part of Cohere.
