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Home»Technology
Technology

Startup using AI technology secures $10 million in seed funding from Madrona and Point72 Ventures for workflow automation.

June 9, 2024No Comments3 Mins Read
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A Seattle-based startup named Tektonic AI has recently secured $10 million in funding to support the development of its artificial intelligence-powered software that automates business operations. This software aims to streamline complex workflows that involve dynamic processes and data, which traditional tools like robotic process automation (RPA) software may struggle with. Tektonic AI is focusing on creating AI agents that can understand natural language queries and assist employees in completing tasks efficiently across various applications and systems, with an initial focus on sales and revenue teams for tasks like quoting and renewals.

With the increasing number of software applications used by employees, there has been a rise in time spent switching between different apps. Tektonic AI’s founder and CEO Nic Surpatanu noted the challenge of streamlining tedious work required to make these apps work together, especially when faced with complex data and changing contextual requirements. Surpatanu believes that generative AI can help users find answers with computational programs but is not yet advanced enough for activities like precisely pricing a product. Tektonic aims to serve as a bridge between these activities, providing a better way for employees to handle these repetitive tasks efficiently.

Tektonic AI is one of the newer AI startups looking to revolutionize how companies utilize their data. With the broad potential of generative AI in understanding and processing unstructured corporate information, startups like Tektonic are exploring ways to leverage this technology for enhanced productivity and efficiency. Surpatanu’s extensive experience in the tech industry, including stints at cybersecurity company Tanium, UiPath, and Microsoft, positions him well to lead Tektonic in this competitive landscape. He believes that Tektonic stands apart by focusing on automating more complex workflows that cross application and expertise boundaries, rather than just enhancing productivity within specific verticals or walled gardens.

Tektonic is currently in the early stages and does not yet have paying customers. Targeting companies with over $50 million in annual revenue, Tektonic has drawn support from Seattle-based venture firm Madrona and Point72 Ventures. These investors see the potential of generative AI models in transforming process automation by reasoning across data silos within applications and orchestrating tasks in novel ways. Initially incubated within Madrona Venture Labs, Tektonic brings together a team with diverse expertise, including co-founder David Hsu, an engineering director with experience at StubHub and Google, and head of engineering Mario Blendea, a former engineering manager at Meta.

As Tektonic AI continues to develop its AI-powered automation software, it aims to provide companies with a more efficient way to handle complex workflows and repetitive tasks. By leveraging generative AI technology, Tektonic seeks to bridge the gap between user requests and computational programs to streamline operations and improve productivity. With the backing of investors like Madrona and Point72 Ventures, Tektonic is poised to make a significant impact in the evolving landscape of enterprise automation solutions. By differentiating itself through a focus on automating intricate workflows and tackling digital overload and application sprawl, Tektonic is set to challenge established players in the industry and offer innovative solutions to companies seeking to optimize their business operations.

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