Akkio Raises $15M in Series A Funding
Akkio, Inc., the Massachusetts-based trailblazer in AI technology, has secured a significant milestone with a $15 million series A funding round led by Bain Capital Ventures and Pandome, Inc. This infusion of capital, totaling $18 million for Akkio, is a resounding endorsement of their vision. The funds will serve to fast-track the commercialization of Akkio’s transformative AI platform, promising users an intuitive AI assistant to revolutionize data-driven decision-making.
The company’s standout proposition lies in its no-code platform, a game-changer for enterprises seeking to harness the power of AI. By simplifying AI development and deployment, Akkio empowers business analysts to swiftly integrate AI capabilities into their workflows, unlocking insights that drive growth. Tasks as diverse as fraud detection, sales funnel optimization, and churn reduction can now be empowered with AI’s predictive prowess, without the need for extensive coding expertise.
Akkio’s dedication to innovation is palpable through its AI-driven enhancements. Among these is the chat data prep feature, enabling seamless automation of data cleaning and preparation through natural language conversations. The Chat Explore capability further empowers data analysts by enabling interactions with data using GPT-4, fostering the identification of patterns and dynamic visualization creation. The Forecasting model is another jewel in Akkio’s crown, predicting inventory availability and sales performance based on real-time data analysis.
The company’s customer roster already boasts heavyweights like Ellipsis Marketing, AngioDynamics, and Standard Industries. These businesses, among hundreds of others, are leveraging Akkio’s AI-enabled solutions to augment internal processes and elevate decision-making efficiency.
Akkio’s ascent aligns with the growing trend of no-code AI development, a response to the surging demand for AI capabilities amid a dearth of data science talent. This arena has seen contenders like Google AutoML, Obviously AI, and Fritz AI emerge. According to Gartner, nearly two-thirds of app development is expected to transition to low-code/no-code solutions by 2024.
Are you developing new technology for an existing application? Did you know your development work could be eligible for the R&D Tax Credit and you can receive up to 14% back on your expenses? Even if your development isn’t successful your work may still qualify for R&D credits (i.e. you don’t need to have a patent to qualify). To find out more, please contact a Swanson Reed R&D Specialist today or check out our free online eligibility test.
Who We Are:
Swanson Reed is one of the U.S.’ largest Specialist R&D tax advisory firms. We manage all facets of the R&D tax credit program, from claim preparation and audit compliance to claim disputes.
Swanson Reed regularly hosts free webinars and provides free IRS CE and CPE credits for CPAs. For more information please visit us at www.swansonreed.com/webinars or contact your usual Swanson Reed representative.
