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AutogenAI: Helping Businesses Automate Proposal Writing

Image Credits: AutogenAI
By: Headliners News / December 19, 2023

UK-based startup AutogenAI, specializing in generative AI for automating proposal writing, has secured $39.5 million in a Series B funding round co-led by Salesforce Ventures and Spark Capital, with participation from Blossom Capital. The latest funding brings AutogenAI’s total investment to $65.3 million, following its recent expansion into the U.S. and Australia.

Founded by CEO Sean Williams, AutogenAI addresses the laborious process of writing proposals for requests-for-proposals (RFPs), while aiming to heavily automate the task with human supervision. This innovative startup provides a bid-writing product suite leverages advanced AI technology to transform how organizations, from Fortune 500 companies to nonprofits, approach the time-consuming bidding process.

AutogenAI’s software is designed to streamline bid, tender, and proposal creation efficiently, delivering a significant impact on business outcomes. According to the company, clients of theirs have experienced a notable 30% increase in win rates, translating to over $100 million in additional work, while simultaneously reducing associated costs by up to 85%.

Salesforce Ventures, a co-leader in the funding round, expressed confidence in AutogenAI’s potential to transform enterprises’ tendering and proposal drafting processes. The company’s software, powered by generative AI, is considered a game-changer in the landscape of securing business through tendering.

Debbie Brockbank, Interim Growth Director at Hinduja Global Solutions, praised AutogenAI for significantly boosting the productivity of bid teams. The platform’s impact includes improved bid quality, consistency, and communication within organizations, as well as a notable reduction in the time to reach the first cut.

AutogenAI prioritizes data security for businesses in its AI adoption, addressing concerns by focusing on privacy and factual accuracy. The company’s latest innovation, Bowdleriser, removes confidential information from corporate documents, ensuring privacy and security while allowing for externally shareable copies.

CEO Sean Williams emphasized AutogenAI’s commitment to dependable source materials and highlighted the tangible return on investment realized by clients in a short period. As the company continues its expansion, AutogenAI aims to position its technology as a standard toolkit for bid teams in the UK, U.S., Australia, and potentially beyond. The funding will be instrumental in advancing AutogenAI’s mission and expanding its footprint across the world.

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