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 our work with Cohere, we’re (we’re going) dramatically impacting 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.