Akkio – an AI company delivering generative analytics and machine learning to businesses – recently announced that it had closed a $15 million Series A with participation by Bain Capital Ventures (BCV) and Pandome. This funding round accelerates the commercialization of Akkio’s powerful, easy-to-use, and affordable AI platform. Plus, Akkio has hundreds of customers that chat with their data, generate live dashboards, and use machine learning to predict future outcomes across their operations, such as lead scoring, forecasting, content optimization, and more.
Generative AI assistants have been rapidly changing how work gets done. And copywriters now rely on ChatGPT, graphic designers lean on Dall-e, and software engineers depend on CoPilot to speed their delivery. Data analysts now also have a go-to generative AI solution with consumer-level usability to accelerate their work.
The ease of use is at the core of Akkio’s product strategy and design. And the platform empowers customers to use GPT-4 to generate insights, visualizations, and dashboards from their favorite spreadsheet tools or live business data sources and data warehouses such as Google Big Query, Hubspot, Salesforce, and Snowflake. Analysts have been building predictive models for any business priority and deploying these models for real-time decision-making in minutes—all without writing a single line of code. And Akkio is the most affordable solution for generative analytics and machine learning, with plans starting at $49, making it possible for small and medium businesses to become more competitive and efficient.
This year, Akkio released several updates to the platform, including:
1.) Chat Data Prep – A feature that uses generative AI to automate the process of data cleaning and preparation through chat. Customers combine columns, summarize records, translate languages, convert formats, and perform complex calculations without writing formulas or code.
2.) Chat Explore – A chatbot with generative AI to securely explore data, identify patterns, find actionable insights, and report on business outcomes ten times faster than traditional methods. And with the power of GPT-4, customers easily and quickly ask questions, get detailed analyses, and create live, custom charts and reports.
3.) Forecasting – An ML model for quickly creating forecasts to predict inventory availability, sales, and marketing performance. Customers use it to understand patterns, analyze influential factors, and effortlessly make forecasts with live data.
KEY QUOTES:
“Akkio’s customers rely on data and want to leverage the latest in generative AI and ML capabilities, but lack the tools, technical expertise, or data science experience to do it. This investment allows us to scale and advance our platform so business analysts can leverage AI technologies to work faster, unlock new insights, and make a bigger impact for their organization.”
— Abe Parangi, Co-Founder & CEO, Akkio
“A new wave of AI tools is enabling the long tail of business users to increase their impact due to consumer-level ease-of-use and design. Akkio’s generative AI assistant is meeting the needs of analysts and consultants looking to harness the power of AI to become more impactful, making our second investment in the mission a no-brainer.”
— Ajay Agarwal, Partner at Bain Capital Ventures
