Blossom Capital has invested $22.3 million in London-based firm AutogenAI to help it develop its platform and increase its clientele. The startup has created a tool based on generative AI to help companies create better pitches and boost their success rates.
28 clients have already signed up with AutogenAI since it launched less than a year ago. The business, which is estimated to be worth “hundreds of millions,” uses large language models from OpenAI and other sources along with confidential structured and unstructured customer data.
AutogenAI boasts a varied clientele, including international management consultants, construction firms, facilities management corporations, and nonprofit organizations, yet it withholds particular customer names.
Users of AutogenAI’s interface can search information and produce pitches based on their prior achievements. Before being offered for contracts, the team customizes and improves these drafts. According to AutogenAI’s claims, its software can speed up the pitch writing process by 800%.
AutogenAI covers two crucial components of successful bids. First off, it does away with the requirement for a substantial budget outlay by lowering procurement expenses by about 10%. Second, the platform cuts down initial bid writing time by 70%, freeing teams to concentrate on others essential tasks.
Blossom Capital is interested in AutogenAI because of the potential ROI the solution could provide. The application can assist companies in increasing production and profitability by saving time and streamlining the proposal drafting procedure.